Based on a strong recommendation from a trusted industry advisor, UCCU considered Optimal Blue as an option. As part of its due diligence, UCCU interviewed Optimal Blue’s secondary experts. “When we interviewed Optimal Blue’s secondary market team, it was clear that they knew what they were doing – they were true experts,” Meyers recalled.
UCCU selected Optimal Blue for several reasons. Management determined that Optimal Blue would enable the credit union to gain access to industry-leading secondary marketing expertise for hedging, pipeline management, and best execution and mandatory delivery loan sales. This level of expertise was prohibitively expensive to take on internally. Management knew that they required a turnkey secondary marketing technology, a single pipeline database and expert advisory services to enable it to convert from best efforts to a mandatory delivery model and improve its loan margins. By improving loan margins, UCCU believed it would be able to recruit additional talented mortgage lending professionals and provide advantageous pricing to its members.
UCCU compared several secondary vendor solutions before making its decision. Optimal Blue’s technology and expertise persuaded the credit union to become a client. Meyers explained, “Optimal Blue’s technology was just so far ahead of the other vendor solutions in the marketplace under consideration. Optimal Blue’s reporting was intuitive and flexible, permitting us to transparently understand everything occurring in the pipeline and allowing us to continuously monitor the portfolio.” He added that other vendors offered complex and voluminous “canned” secondary market reports that were difficult to understand and analyze. Optimal Blue’s reporting was flexible, easy-to-use and interactive, which enabled UCCU’s secondary marketing staff to generate real-time reports to better understand its market position and related risk.