PLANO, Texas – March 15, 2024 – Optimal Blue announced today that it has appointed Sara Holtz as chief marketing officer. As a seasoned marketing and communications leader, Holtz brings more than 20 years of career experience, including a decade of driving change in the mortgage industry. As chief marketing officer, Holtz will drive unified marketing and communications strategies to advance Optimal Blue’s business priorities and further extend the company’s influence.

“As the only comprehensive capital markets solution in the mortgage industry, Optimal Blue helps lenders realize greater profitability and operational efficiency, which plays an essential role in making the dream of homeownership attainable for the American borrower,” said Holtz. “It’s an honor to join Optimal Blue – a company that’s been regarded for its innovation and expertise for decades. I am energized by the opportunity to build on the company’s momentum to drive meaningful transformation for Optimal Blue’s valued clients and the borrowers they serve.”

Holtz joins Optimal Blue from ICE Mortgage Technology, where she most recently served as vice president of demand marketing and communications. In this role, she led a dynamic team focused on generating sales opportunities and engaging industry audiences. Holtz joined ICE with the company’s acquisition of Ellie Mae in 2020. During her tenure at Ellie Mae, Holtz helped advance the company’s corporate communications strategies, including both internal and external brand narratives.

“Sara is a highly respected professional and her unique blend of experience makes her the perfect addition to Optimal Blue’s senior leadership team,” says Scott Smith, interim CEO of Optimal Blue. “She has a track record of proven leadership, and she will play an integral role as we continue to expand our position as the leader in mortgage secondary marketing technology.”

Holtz was honored as a HousingWire Marketing Leader in 2023, a prestigious award that celebrates the most creative and influential minds of the housing economy.

About Optimal Blue

Optimal Blue is a market leader in mortgage secondary marketing technology. The company facilitates transactions among mortgage market participants through its Marketplace Platform, actionable data, and technology vendor connections. The platform supports a range of functions for originators and investors to automate and optimize core processes related to product, pricing, and eligibility, hedge analytics, MSR valuation, loan trading, social media compliance, and counterparty oversight. The company’s premier products are used by 68% of the top 500 mortgage lenders in the U.S. For more information on Optimal Blue’s end-to-end secondary marketing automation, visit  http://www.OptimalBlue.com.

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Media Contact
Olivia DeLancey, Optimal Blue
904.854.5459
Olivia.DeLancey@OptimalBlue.com

Spring Buying Season Kicks Off With an Uptick in Purchase Applications Despite Climbing Interest Rates

Optimal Blue Issues February 2024 Originations Market Monitor

OB Originations Market Monitor

PLANO, Texas – March 11, 2024 – Today, Optimal Blue released its February 2024 Originations Market Monitor report, which reveals that the spring homebuying season has kicked off with a jump in monthly purchase mortgage locks. The seasonal spike in purchase locks propelled a net increase in origination activity, even as higher interest rates led to steep declines in mortgage refinances.

Key findings from the February 2024 Originations Market Monitor report, which reflects month-over-month changes in mortgage lock data, show:

  • Lock activity up despite steep decline in refinances: Rate lock volumes saw a 5% increase due to a notable 8.3% increase in purchase activity. The rise in purchase activity outpaced the decrease in refinancing activity, which fell by 22.5% for rate/term refinances and 3.1% for cash-out refinances.
  • Purchase market nearing its floor: Purchase lock counts, which control for changing home prices, rose 7%, a significant growth compared to the 2% increase in the same period last year during a similar uptick in interest rates. The 7% year-over-year decline in lock activity was the smallest such drop since the Fed began hiking interest rates in March 2022.
  • Interest rate trend reverses: The benchmark Optimal Blue Mortgage Market Indices (OBMMI) observed an end to three consecutive months of rate declines — the result of strong economic readings, which significantly lowered market expectations of a near-term rate cut. The OBMMI 30-year conforming rate index rose 36 bps to 6.89%, FHA rose 28 bps to 6.66%, VA rose 41 bps to 6.50%, and jumbo rose 37 bps to 7.35%.
  • Non-conforming products see gains: Non-conforming loan products, including jumbo and non-QM loans, claimed an additional 183 basis points of market share, ending the month with 11% of the total volume. Meanwhile, conforming loans maintained a steady 57%, with slight decreases in FHA and VA loans.
  • ARMs become slightly more popular: The rate increase nudged the share of ARM loans up, though they still account for only 6% of total production volume. The current economic scenario, particularly the inverted yield curve, will likely constrain further demand growth for these products.
  • Credit quality and loan amounts continue upward trend: Credit quality continued to improve across all loan products, except VA loans, which held steady. The average loan amount increased from $355.6K to $359.3K, while the average home purchase price climbed from $444.9K to $454.1K.

“As the spring buying season commenced, we saw a resurgence in purchase locks, despite the rise in interest rates,” said Brennan O’Connell, director of data solutions at Optimal Blue. “Although lock counts were down on a year-over-year basis, the rate of decline is decelerating and suggests we may be nearing a floor for purchase lending in the current rate environment.”

View the full February 2024 Originations Market Monitor report for more detail.

About the OMM Report:
Each month, Optimal Blue issues the Originations Market Monitor report, which provides early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE — the mortgage industry’s most widely used product, pricing, and eligibility engine — the Originations Market Monitor provides a view of early-stage origination activity.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.</em?

About Optimal Blue
Optimal Blue is a market leader in mortgage secondary marketing technology. The company facilitates transactions among mortgage market participants through its Marketplace Platform, actionable data, and technology vendor connections. The platform supports a range of functions for originators and investors to automate and optimize core processes related to product, pricing, and eligibility, hedge analytics, MSR valuation, loan trading, social media compliance, and counterparty oversight. The company’s premier products are used by 68% of the top 500 mortgage lenders in the U.S. For more information on Optimal Blue’s end-to-end secondary marketing automation, visit OptimalBlue.com.

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Media contact:
Olivia DeLancey
904.854.5459
Olivia.DeLancey@OptimalBlue.com

View Report

PLANO, Texas – March 1, 2024 – Today, Optimal Blue announced its vice president of finance, Mike Schommer, has been honored as a 2024 HousingWire Finance Leader. The award program celebrates senior finance executives who have exhibited exceptional leadership in corporate finance, capital markets, and accounting within the mortgage and real estate sectors.

Schommer is a veteran financial professional with over 30 years of experience operating in the housing finance industry. His significant contributions to Optimal Blue include leading the company’s spin-off from Intercontinental Exchange (ICE) and constructing a best-in-class financial planning and analysis function. Schommer’s proficiency in managing third-party audit relationships and his skill in engaging with the investment community have set him apart as a leader in his field. A valued member of Optimal Blue’s executive team, Schommer is relied on as a steady source of advice and counsel.

“Mike Schommer’s impact on Optimal Blue cannot be overstated. His strategic financial management, coupled with his unwavering dedication to our team and values, has been a driving force behind our success,” said Optimal Blue interim CEO Scott Smith. “This recognition by HousingWire is a testament to his hard work, expertise and leadership. We are incredibly proud to have Mike as part of our executive team and are excited to see his continued influence on our growth and innovation.”

“Even the best business operators, innovators and entrepreneurs have no chance at winning or growing without creative, diligent and strategic financial management and execution,” said Clayton Collins, CEO of HW Media. “The executives recognized in the 2024 HousingWire Finance Leaders program represent the strategic finance leaders that unlock and empower progress. They navigate capital markets, execute strategic growth initiatives and facilitate accretive M&A deals. The 2024 Finance Leaders exemplify excellence.”

About Optimal Blue

Optimal Blue is a market leader in mortgage secondary marketing technology. The company facilitates transactions among mortgage market participants through its Marketplace Platform, actionable data, and technology vendor connections. The platform supports a range of functions for originators and investors to automate and optimize core processes related to product, pricing, and eligibility, hedge analytics, MSR valuation, loan trading, social media compliance, and counterparty oversight. The company’s premier products are used by 68% of the top 500 mortgage lenders in the U.S. For more information on Optimal Blue’s end-to-end secondary marketing automation, visit OptimalBlue.com.

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Media contact:
Olivia DeLancey
904.854.5459
Olivia.DeLancey@OptimalBlue.com