Tag: Optimal Blue

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today announced that Ask Obi, an AI-powered assistant designed to help mortgage lending executives extract real-time insights from across Optimal Blue's capital markets platform, is now generally available to all PPE clients. Introduced at the company's inaugural user conference in February and refined through beta testing with select clients, Ask Obi provides executives with fast answers to complex profitability questions at no additional cost.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today released its April 2025 Market Advantage mortgage data report showing total loan lock volume rose 3.2% month-over-month (MoM) as the spring homebuying season progressed, with purchase locks up 7.5% despite ongoing economic pressures.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today announced the general availability of Originator Assistant, a powerful addition to the Optimal Blue PPE. Leveraging generative AI, Originator Assistant eliminates human bias in the loan structuring process and helps originators identify all options for a borrower, providing more ways to help consumers realize the American dream of homeownership.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today released its March 2025 Market Advantage mortgage data report, showing a 24% surge in rate lock volume as early spring buyers returned to the market and homeowners jumped at the chance to refinance into lower rates. While still down 2% on a year-over-year (YoY) basis, purchase volumes were up 21% month-over-month (MoM). Rate-and-term and cash-out refinances jumped 52% and 20% MoM, respectively, together representing 25% of all lock activity.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today announced that Senior Software Engineering Manager Shawn Chandwani, 34, has been named among HousingWire's Rising Stars. The annual list celebrates young professionals who shoulder significant leadership responsibilities and contribute to the broader industry and business landscape, establishing themselves as influential figures and leaders for tomorrow.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today announced a strategic alliance with Cotality™ (formerly CoreLogic®) that expands access to its mortgage origination and pricing data. Through this collaboration, Cotality will offer Optimal Blue's data to a broader audience, including hedge funds, capital markets participants, and investment firms seeking insights into the mortgage markets.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today released its February 2025 Market Advantage mortgage data report, showing a 7% month-over-month increase in mortgage lock volume driven primarily by a surge in refinance activity. Rate-and-term refinances saw the biggest jump, rising nearly 40% as homeowners seized the opportunity to lower their monthly payments. Cash-out refinances also edged higher, while purchase lock activity remained subdued for the second consecutive month.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today released its January 2025 Market Advantage mortgage data report, revealing a sharp rise in year-over-year (YoY) refinance activity alongside a drop in purchase lock counts. The decline in purchase lock counts marks the lowest January count since Optimal Blue began tracking this data in 2019. Meanwhile, refinance lock volume surged even though the Optimal Blue Mortgage Market Indices (OBMMI) 30-year ticked above 7% for the first time since May.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today released its December 2024 Market Advantage mortgage data report, showcasing year-over-year (YoY) growth in mortgage activity, even as seasonal trends led to a month-over-month (MoM) decline in rate lock volumes. Overall, December mortgage lock volume was up 26% YoY, driven by an 18% increase in purchase locks, a 43% rise in cash-out refinances, and an 82% jump in rate-and-term refinances.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today released its November 2024 Market Advantage mortgage data report, highlighting a 25% decrease in month-over-month (MoM) lock volume as interest rates hit their highest levels since early July, creating headwinds for affordability.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today announced the speaker lineup for its inaugural user conference, the Optimal Blue Summit 2025. Legendary skateboarder and entrepreneur Tony Hawk will headline the event. The conference will also feature sessions led by Mortgage Bankers Association (MBA) Chief Economist and Senior Vice President of Research and Business Development Michael Fratantoni, Ph.D., MBA Associate Vice President of Secondary and Capital Markets Sasha Hewlett, AMP, HousingWire Editor in Chief Sarah Wheeler, and representatives from Microsoft.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today released its October 2024 Market Advantage mortgage data report, highlighting resilient purchase activity in the face of rising interest rates and affordability challenges. Despite a 65-basis-point (bps) increase in the Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate, purchase lock volume grew by 12% month over month (MoM), signaling strong demand among homebuyers.

PLANO, Texas /New York Netwire - National News/ -- Optimal Blue today announced two key executive promotions that will position the company to deliver innovation faster across the company's entire capital markets platform, and to further expand the company's network of partners. Erin Wester has been promoted to chief product officer and Mike Vough has been promoted to head of corporate strategy.

PLANO, Texas, July 23, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today announced the delivery of generative AI capabilities centered on helping lenders maximize profitability on every loan transaction. Through direct engagement with its thousands of clients, the company has begun delivering generative AI capabilities built for secondary-market-specific use cases and purposefully designed to solve the real-world challenges that mortgage lenders face.

PLANO, Texas, July 10, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today released its June 2024 Market Advantage mortgage data report, which revealed a stagnant late-spring housing market as home prices dropped for the first time in 2024 and purchase lock counts fell 8% over the previous year. All mortgage lock figures in this news release have been controlled for fewer market days in June.

PLANO, Texas, June 13, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today released its May 2024 Market Advantage mortgage data report, which revealed a 25.6% month-over-month (MoM) spike in rate-and-term mortgage refinances. The spike was a response to a modest drop in the Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate, which ended the month at 7.02%.

PLANO, Texas, June 10, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today announced the appointment of Joe Tyrrell as CEO. Tyrrell succeeds interim CEO Scott Smith of Optimal Blue's parent company, Constellation Software Inc. Tyrrell brings over 25 years of experience in the mortgage, finance, and technology industries to Optimal Blue.

PLANO, Texas, May 13, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today released its April 2024 Originations Market Monitor report, which reveals the first year-over-year increase in purchase mortgage lock counts since the Federal Reserve initiated rate hikes in March 2022.

PLANO, Texas, April 24, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today announced that Brennan O'Connell, director of data solutions, has been honored with the 2024 HousingWire Rising Stars award. The award program celebrates emerging leaders in real estate and mortgage who have demonstrated rapid career growth and an ability to lead, achieving remarkable milestones before the age of 40.

PLANO, Texas, April 9, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today announced that it has elevated Rick Allen to chief operating officer (COO). Most recently serving as Optimal Blue's chief administrative officer, Allen brings more than 35 years of experience in the housing industry to his senior leadership role. Throughout his tenure at Optimal Blue, Allen has played an integral role in the enhancement and delivery of products to add exceptional value to the company's clients.