Optimal Blue Expands Network by Acquiring Comergence, the Mortgage Industry’s Leading Third-party Oversight Platform
Building a More Trusted Marketplace
PLANO, TX – Optimal Blue, operator of the mortgage industry’s digital marketplace and provider of comprehensive secondary marketing solutions, announced today that it has acquired Comergence Compliance.
Comergence is the leading provider of third-party oversight solutions in the mortgage industry. Founded in 2008, Comergence provides an array of third-party originator (TPO), appraiser, and social media risk management solutions that verify third-party compliance in real-time, a capability unmatched in the industry. Comergence has been widely recognized by the industry for its innovations in due diligence automation and ongoing surveillance services.
“We are thrilled to welcome Comergence to the Optimal Blue family and we are looking forward to extending their network management platform to our customers,” said Scott Happ, CEO of Optimal Blue. “Comergence solutions help build trust and confidence among marketplace participants by verifying third-party compliance in real-time, a capability unmatched in the industry.”
“We provide the best due diligence and ongoing surveillance services in the industry,” noted Greg Schroeder, President of Comergence. “We believe that by being part of Optimal Blue we can bring the benefits of our technology and expertise to an even larger segment of the mortgage marketplace.”
Michael Stallings, Executive Vice President of Comergence said, “Recent Comergence innovations, including an analytics tool to help account executives identify new TPO opportunities and a breakthrough solution for social media risk monitoring, strongly complement Optimal Blue’s existing product offering.”
“Optimal Blue and Comergence are well-aligned around our principal mission of facilitating transactions between buyers and sellers of loans,” added Scott Happ. “We are very pleased that Greg, Michael, and the entire Comergence team will be joining Optimal Blue as we execute our shared growth plans.”
ABOUT OPTIMAL BLUE
Optimal Blue operates the mortgage industry’s digital marketplace, connecting lenders, investors and providers with integrated technology and value-added services. Our digital marketplace is powered by an enterprise secondary marketing automation platform and contains the industry’s largest library of loan programs and real-time loan pricing data. The platform is surrounded by a workflow automation system enabling lenders to price, lock and sell mortgage loans while managing risk and maximizing efficiency. Through marketplace participation, investors and value-added providers gain access to the largest network of lenders and brokers in the industry while leveraging tools to automate data exchange, improve decision making and source new business. Together these lenders, investors and providers form a unique, multi-sided marketplace touching one of every four mortgage loans closed nationally each year. For more information, visit www.optimalblue.com.
PRESS CONTACT FOR OPTIMAL BLUE:
Vice President – Marketing & Alliances