Optimal Blue, the leading provider of secondary marketing solutions and data services in the mortgage industry, announced today the release of their Competitive Analytics solution. With mortgage rates at all-time lows, lenders are experiencing a surge in production, requiring access to real-time business intelligence to understand how well they are performing. Updated with new data daily, this game changing innovation positions Optimal Blue clients ahead of their peers by enabling them to gauge performance through sophisticated visualizations that illustrate market position, compare margins and profitability, and assess the effectiveness of current pricing strategies.
Competitive Analytics provides three types of sophisticated industry benchmarking capabilities, including:
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VOLUME BENCHMARKING
Advanced volume benchmarking allows the user to compare their loan production to the overall market and chart volume trends across specific time periods – by week, month, quarter, or year. In addition, volume benchmarking provides a production percentile market rank by business channel, institution type, state, MSA, loan type, and other parameters, as well as the ability to compare the percentage of their locks that observed change requests or lock extensions to the overall market.
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LENDING PROFILE BENCHMARKING
Lending profile benchmarking enables clients to compare characteristics of their loan production by charting loan level parameters such as FICO, LTV, loan amount, property type, occupancy, loan type, and loan purpose against the overall market.
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PRICING STRATEGIES BENCHMARKING
Pricing strategies benchmarking provides a market comparison for a variety of secondary marketing metrics that impact profitability. Through this powerful capability, clients can compare margins, concessions, price, and note rate to the market, and filter by business channel, institution type, state, MSA, and more.
Competitive Analytics joins Optimal Blue’s already established suite of business intelligence offerings including the Optimal Blue Mortgage Market Indices™ (OBMMI™) published earlier this year, as well as the unrivaled Enterprise Analytics solution which provides Optimal Blue clients with compelling visualizations that illustrate highly granular data on their own operation.
“The Optimal Blue Marketplace Platform has supported the daily activity of mortgage buyers and sellers for close to two decades,” explained Scott Happ, CEO of Optimal Blue. “This has generated an incredible amount of transactional data that uniquely positions Optimal Blue to achieve an entirely new scope of market transparency and competitive insight.”
ABOUT OPTIMAL BLUE
Optimal Blue’s Marketplace Platform connects the industry’s largest network of originators, investors, and providers. More than $750 billion of transactions are processed across the platform each year, facilitating a broad set of secondary market interactions like pricing, locking, hedging, and trading of mortgage loans. For more information, please visit www.optimalblue.com.
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