Tag: Plano Business
Rate-and-Term Refinance Locks Surge 700% Over Previous Year Following the FOMC’s September Interest Rate Reduction
PLANO, Texas, Oct. 8, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today released its September 2024 Market Advantage mortgage data report, which found a 50% month-over-month (MoM) increase in rate-and-term refinance activity as people who purchased homes in recent years jumped at the opportunity to lower their interest rates and mortgage payments. While the Federal Open Market Committee (FOMC) lowered its target federal funds rate by 50 bps on Sept. 18, the market had already priced in a portion of the rate reduction, leading to a full month of increased refinance activity in September.
Optimal Blue Expands Expertise, Market Leadership With Launch of Two In-House Podcasts
PLANO, Texas, Oct. 1, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue announced the release of two in-house podcasts that extend the reach of the company's capital markets experience and expertise built over its decades as the technology leader in its space. The Optimal Insights podcast and video, which will be released weekly, will provide timely analyses of market factors impacting loan originators and capital markets professionals.
Optimal Blue Rolls Out Innovations in New UI, Gen AI, Originator Capabilities and New No-Cost Solutions
PLANO, Texas, Sept. 16, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today announced its extensive plans for innovation across its complete capital markets technology ecosystem leading up to its Optimal Blue Summit, where innovations will be unveiled live. New capabilities will be introduced into the core platform beginning in mid-September and continuing through the Optimal Blue Summit, a national user conference being held in San Diego in February.
Rate-and-Term Refinances Surge 109% MoM in August as Mortgage Rates Decline
PLANO, Texas, Sept. 10, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today released its August 2024 Market Advantage mortgage data report, which reveals an overall 1% rise in rate lock volume despite the typical seasonal slowdown in purchase lending. Lock volume growth was driven by a surge in refinance activity as homeowners reacted to declining mortgage rates.
Optimal Blue to Host Inaugural Industry Summit February 3-5, 2025
PLANO, Texas, Sept. 9, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today announced it will host its inaugural Optimal Blue Summit from February 3-5, 2025, at the Marriott Marquis San Diego Marina. Set against the scenic backdrop of San Diego Bay, the Optimal Blue Summit 2025 will bring together clients from across primary and secondary mortgage networks to connect, learn, and share best practices for pricing and profitability.
July Refinance Activity Hits Highest Levels Since September 2022
PLANO, Texas, Aug. 12, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue today released its July 2024 Market Advantage mortgage data report, which revealed that mortgage refinance demand surged to levels not seen since September 2022 amid softening interest rates. The lower interest rates seen in July also coaxed increased purchase activity, which, combined with greater refi activity, drove a 3.5% month-over-month (MoM) increase in mortgage rate lock volumes.
Optimal Blue Launches New Generative AI Assistant Capabilities
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.
Stack Sports Teams Up with The Miracle League to Revolutionize Inclusive Sports
PLANO, Texas, July 15, 2024 (SEND2PRESS NEWSWIRE) -- Stack Sports, the leading provider of sports management solutions, is excited to announce the signing of its new strategic partnership with The Miracle League, an organization focused on providing opportunities for children with disabilities to play Miracle League baseball.
Falling Home Prices and Purchase Mortgage Locks Reveal a Stagnant Late-Spring Housing Market
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.
Optimal Blue Launches Competitive Data License to Help Lenders Optimize Margins With Competitive Loan Pricing Data
PLANO, Texas, June 25, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue announced the release of Competitive Data License, a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions. Competitive Data License draws upon direct-source loan data from the Optimal Blue PPE, which is used to price and lock over 35% of loans in the United States.
Stack Sports and The Fellowship of Christian Athletes (FCA) Renew Strategic Partnership to Grow Participation
PLANO, Texas, June 19, 2024 (SEND2PRESS NEWSWIRE) -- Stack Sports, the leading provider of sports management solutions, announced the renewal of its multi-year partnership with Fellowship of Christian Athletes (FCA) Sports, an interdenominational Christian sports ministry working to see the world transformed by Jesus Christ through the influence of coaches and athletes.
Mortgage Interest Rate Sensitivity Triggers 25% Spike in May Rate-and-Term Refinance Activity
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%.
Optimal Blue Names Joe Tyrrell Chief Executive Officer
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.
Optimal Blue Announces ‘Optimize Your Advantage’ to Showcase How Its Capital Markets Platform Puts Lenders in Control of Their Margins
PLANO, Texas, May 16, 2024 (SEND2PRESS NEWSWIRE) -- Optimal Blue announced the launch of its Optimize Your Advantage campaign in advance of the MBA Secondary and Capital Markets Conference. This comprehensive brand initiative highlights the value and innovation the company delivers to clients. Through Optimal Blue's position as the housing industry's only end-to-end capital markets platform, lenders and other market participants have greater control of their profit margins, giving them distinct advantages, regardless of market conditions.
Mortgage Purchase Lock Counts See First YoY Gain Since Fed Rate Hikes Began Two Years Ago
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.
Stack Sports launches Stack Rewards to Save Youth Sports Families $100M
DALLAS, Texas, May 6, 2024 (SEND2PRESS NEWSWIRE) -- Stack Sports, the leading provider of youth sports software has launched a new rewards program delivering significant savings to youth sports families in the United States and North America. With Stack Rewards, families can earn cashback on everyday shopping and access special offers and deals to help pay for sports, resulting in projected savings of $100 million annually.
Optimal Blue Director of Data Solutions Brennan O’Connell Named a 2024 HousingWire Rising Star
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.
Optimal Blue Announces Promotion of Rick Allen to Chief Operating Officer
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.
Average Homebuyer Credit Score Hits the Highest Mark in Years
PLANO, Texas, April 8, 2024 (SEND2PRESS NEWSWIRE) -- Today, Optimal Blue released its March 2024 Originations Market Monitor report, which reveals the average homebuyer credit score has reached 737 - an all-time high since the company began tracking this data in January 2018. Despite the potential buyer pool being somewhat limited to borrowers with higher credit, rate lock volume showed steady month-over-month growth of 17% in March as the spring buying season got underway.
Stack Sports Renews Partnership with USA Lacrosse
PLANO, Texas, March 25, 2024 (SEND2PRESS NEWSWIRE) -- Stack Sports, the leading provider of sports technology solutions, proudly announces the renewal of its partnership with USA Lacrosse, the governing body for the sport in the United States and a Recognized Sports Organization by the U.S. Olympic & Paralympic Committee, for an additional two years. As part of this continued collaboration, Sports Connect will serve as an Official League Registration Partner of USA Lacrosse.