Optimal Blue and LoanLogics Join Forces to Automate Loan Acquisition for Correspondent Lenders
– New Alliance Includes Optimal Blue Acquisition of LoanLogics’ PPE Business, LoanDecisions™ –
Optimal Blue, the leading secondary marketing automation platform in the mortgage industry, and LoanLogics, a recognized leader in loan quality technology for mortgage manufacturing and loan acquisition, announced today a newly formed strategic partnership aimed at changing the digital correspondent experience. By delivering a real-time integration between LoanLogics’ LoanHD® Correspondent Lending platform and Optimal Blue’s product eligibility and pricing platform, the companies significantly advance the automation of correspondent loan transactions and create a compelling competitive advantage for clients of both firms. In conjunction with this partnership, Optimal Blue has acquired LoanLogics’ product, pricing, and eligibility (PPE) technology business, LoanDecisions™.
LoanLogics’ LoanHD platform provides automation for every step in the loan acquisition process – from initial seller application review to loan funding and servicing onboarding – and overcomes the challenges that stem from a traditionally manual and fragmented correspondent loan purchase workflow. With the capabilities of LoanHD, investors ensure the loans they are buying are high quality, compliant, and accurately priced, while sellers experience rapid turnaround for funding and enhanced availability of warehouse lines. Additionally, both parties gain value by finding and curing defects before loans are purchased.
Through real-time integration with Optimal Blue’s product eligibility and pricing platform, LoanLogics fully automates loan-level pricing and eligibility controls that are pervasive throughout loan file review and enhances a critical aspect of the correspondent workflow inside the LoanHD Correspondent Investor Module. The granular feature set of the Optimal Blue solution will drive greater configurability of the LoanHD platform, bringing new and unique capabilities to clients. Additionally, Optimal Blue will provide support for automated adjustments to loan- and bulk-level pricing based on automated due diligence results, while simultaneously delivering maximum flexibility in support of an investor’s secondary guidelines and pricing requirements.
“Working closely with the Optimal Blue team, we will expand the value each company can offer our respective clients through an integrated solution,” explained Brian Fitzpatrick, LoanLogics CEO. “Individually, we are leaders in our respective disciplines. Together, we offer powerful technology to help investors ‘automate first’ across their loan purchase, pricing, hedging, trading, and counterparty risk oversight practices.”
“We are delighted with this transaction and extend a warm welcome to LoanDecisions’ customers and staff,” said Scott Happ, Optimal Blue CEO. “We are investing deeply in our PPE technology and are committed to delivering the best-in-class solutions and innovative partner connections across our marketplace.”
LoanLogics and Optimal Blue share a long-term vision for the relationship and consider this the first step of many together. With a collective focus on providing innovative automation for the mortgage industry and compelling value for joint customers, additional strategic initiatives and collaborative integrations across the companies’ respective technology platforms are already being considered.
LoanLogics was founded in 2005 to improve the transparency and accuracy of the mortgage process and improve the quality of loans. Our regtech capabilities help residential mortgage lenders, servicers, insurers and investors validate compliance, improve profitability and manage risk during the manufacture, sale, and servicing of loan assets. We are proud of the recognition our loan quality management and performance analytics technology has received, the corporate recognition of our business and client growth through Deloitte’s Technology Fast 500™, corporate culture awards and executive leadership team recognition, including the leadership of our women executives. As the digital mortgage process evolves, our innovations and compliance expertise will continue to help ensure the accuracy and performance of loan assets. To learn more, visit www.loanlogics.com.
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