Optimal Blue announced three major product releases on Monday: the expansion of its artificial intelligence (AI) assistant suite, the introduction of Scenario Optimizer and the free availability of Investor Pricing Insight for investor customers.
“Each of these newly announced updates will help our customers address changing market conditions with flexibility, clarity and precision,” said Joe Tyrrell, CEO of Optimal Blue, in a statement. “From loan officers to secondary marketing teams and investors, we provide mortgage professionals with the tools designed to maximize their profitability on every loan transaction.”
The announcements were made on MBA annually in Deventer.
Optimal Blue has expanded its suite of AI-powered assistants available within the CompassEdge hedging and trading platform with the launch of Position Assistant and the enhanced functionality of Profitability Assistant. The updates come a few months after Optimal Blue introduced three AI-powered assistants to help secondary marketing teams better manage risk and profitability with real-time data insights.
Position Assistant provides mortgage lenders with daily visibility into changes in their risk exposure by automatically summarizing the key factors affecting their hedged mortgage positions, the company said. Profitability Assistant’s daily insights overview has been updated “with a monthly overview of key profitability drivers that allows users to quickly assess performance.”
Optimal Blue said the addition of Scenario Optimizer to its product pricing engine will enable loan officers to quickly identify best-case scenarios for borrowers by automatically generating side-by-side loan comparisons.
The software company’s Investor Pricing Insight data solution is now available for free to investor users. Optimal Blue also introduced new functionality to the solution that allows investors to compare their non-QM rates with those of other investors in real time.
