Optimal Blue’s Resitrader Becomes Industry’s First to Release End-to-End Pricing & Commitment Integration with Freddie Mac
– Mutual Clients Immediately Gain Efficiencies in Pricing, Committing & Trading Freddie Mac Loans –
Optimal Blue, the leading secondary marketing automation platform and largest online exchange for whole loan trading, announced today the completion of integration with Freddie Mac’s Loan Selling AdvisorSM application programming interface. By connecting the two platforms in real-time, Optimal Blue has enabled significant workflow efficiencies for its clients by fully automating the process of pricing Freddie Mac loans and securing Freddie Mac commitments.
The planning for this highly demanded interface began months ago, guided by the initial goal of bringing additional operational improvements to Freddie Mac sellers and servicers that utilize Optimal Blue’s innovative whole loan trading platform, Resitrader. Available immediately to all Resitrader clients without the burden of time-consuming system upgrades, this integration enables users to seamlessly acquire Freddie Mac pricing data and facilitates comparisons against alternative executions such as bulk bids. Additionally, this advanced integration enables the automated commitment of Freddie Mac loans by returning trade confirmations directly back to the Resitrader user, thus eliminating the need to utilize multiple systems to conduct a single transaction.
“Optimal Blue’s integration enables me to swiftly compare live quotes and complete pricing from Freddie Mac against all of my execution options,” explained Anthony Bruschi, Director, Capital Markets Trade Desk at New Penn Financial. “Additionally, I am able to commit all loans with Freddie Mac efficiently and accurately without ever having to leave the Resitrader system.”
Now that Freddie Mac’s Loan Selling AdvisorSM has been integrated with Optimal Blue’s Resitrader, the company has turned its attention toward leveraging this automation with the other solutions in its enterprise secondary marketing platform. Optimal Blue’s next phases will enable Freddie Mac pricing and commitment integrations with its hedge advisory and market-leading product and pricing solutions. In doing so, Optimal Blue will provide an efficient, end-to-end user experience for loan officers and secondary professionals conducting business with Freddie Mac.
“Optimal Blue is completely aligned with Freddie Mac’s commitment to deliver compelling innovations to our joint clients,” said Bob Brandt, Vice President of Marketing and Alliances at Optimal Blue. “Our end-to-end pricing and commitment integration between the Resitrader platform and Freddie Mac’s Loan Selling AdvisorSM is a perfect representation of this, bringing first-to-market innovations to our clients to further facilitate automated transactions between the buyers and sellers of mortgage loans through our Digital Mortgage Marketplace.”
ABOUT FREDDIE MAC
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog.
PRESS CONTACT FOR OPTIMAL BLUE
VP, Marketing & Alliances