Websites using Optimalblue

Okay, let s break down Optimal Blue, covering its overview, revenue, alternatives, pricing, and customer care. This information is based on publicly available data and general market knowledge, as Optimal Blue is now part of Intercontinental Exchange (ICE).

Overview of Optimal Blue

• What it is: Optimal Blue is a leading provider of product, pricing, and eligibility (PPE) technology for the mortgage industry. Its platform helps lenders streamline the loan origination process, improve pricing accuracy, and enhance borrower experience. In essence, it s a software-as-a-service (SaaS) solution that connects lenders to a network of investors, allowing them to get real-time pricing and product options based on borrower scenarios.

• Key Functionality:

  • Product and Pricing Engine (PPE): The core of the platform. It allows lenders to quickly search and compare loan products from various investors based on borrower criteria (credit score, loan amount, property type, etc.).
  • Secondary Marketing Automation: Helps lenders manage their loan pipeline, hedge interest rate risk, and optimize loan sales to investors.
  • Data and Analytics: Provides market data and analytics to help lenders make informed decisions about pricing and product strategy.
  • Point of Sale (POS) Integration: Connects with various POS systems used by loan officers to seamlessly integrate pricing into the initial borrower interaction.
  • Compliance Tools: Helps lenders ensure compliance with regulations related to mortgage pricing and disclosure.

• Target Audience: Mortgage lenders of all sizes, including banks, credit unions, mortgage brokers, and independent mortgage companies.

• Acquisition: Optimal Blue was acquired by Intercontinental Exchange (ICE) in 2020. It now operates as part of ICE Mortgage Technology.

Revenue

• Not Publicly Disclosed Separately: Since Optimal Blue is now part of ICE, its specific revenue figures are not reported separately. ICE includes its performance within its broader ICE Mortgage Technology segment. You can find information on that segment in ICE s quarterly earnings reports.

• General Estimates (Pre-Acquisition): Before the acquisition, industry analysts estimated Optimal Blue s annual revenue to be in the range of hundreds of millions of dollars, based on its market share and subscription-based model. However, these are estimates and may not be entirely accurate.

Alternatives

Several competing PPE and loan origination technology providers offer similar functionality to Optimal Blue. Here are some of the main alternatives:

• Black Knight s Empower/LPS Desktop: A comprehensive loan origination system (LOS) with PPE capabilities. Black Knight is a major player in the mortgage technology space.

• Ellie Mae (ICE Mortgage Technology) Encompass: Another large LOS provider, also owned by ICE, with integrated pricing and product eligibility tools. Encompass is often considered a direct competitor. The relationship within ICE between Encompass and Optimal Blue is sometimes unclear, as they serve similar functions.

• Mortgage Cadence: Offers a cloud-based LOS with built-in pricing and workflow automation.

• Blend: A digital lending platform that automates various aspects of the mortgage process, including pricing and eligibility checks. Often integrated with other LOS systems.

• Polly: Another modern pricing and execution management platform that focuses on efficiency and automation.

• Zillow Mortgage Marketplace (for Consumers): While not a direct competitor for lenders internal pricing, Zillow s marketplace provides consumers with access to multiple loan quotes, influencing pricing transparency.

• Smaller, Niche Providers: There are also smaller companies that focus on specific aspects of mortgage technology, such as pricing engines or compliance tools.

Pricing

• Subscription-Based Model: Optimal Blue and its alternatives typically use a subscription-based pricing model. This means lenders pay a recurring fee (monthly or annual) to access the platform.

• Factors Influencing Price: The subscription fee depends on several factors:

  • Lender Size: Larger lenders with higher loan volumes typically pay more.
  • Number of Users: The number of loan officers and other staff who will be using the platform.
  • Modules and Features: The specific modules and features included in the subscription (e.g., secondary marketing automation, analytics).
  • Contract Length: Longer-term contracts may offer discounted pricing.
  • Integration Costs: The cost of integrating the PPE with the lender s existing systems.

• No Publicly Available Pricing: Specific pricing information is generally not publicly available. Lenders need to contact Optimal Blue (or its competitors) directly to get a quote. Expect to go through a discovery process to determine your needs.

• Implementation and Training Costs: In addition to the subscription fee, lenders should also factor in the costs of implementation, training, and ongoing support.

Customer Care

• Support Channels: Optimal Blue (now through ICE Mortgage Technology) typically provides customer care through various channels:

  • Phone Support: Direct phone access to support representatives.
  • Email Support: Ability to submit support requests via email.
  • Online Knowledge Base: A self-service portal with articles, FAQs, and documentation.
  • Training Programs: Online and in-person training programs to help users learn how to use the platform effectively.
  • Account Management: Dedicated account managers for larger clients to provide personalized support.
  • Community Forums: Online forums where users can connect with each other and share tips and best practices.

• Service Level Agreements (SLAs): Larger clients may have service level agreements (SLAs) that guarantee certain levels of uptime and response times.

• Reputation: Customer care quality can vary. It s essential to research the reputation of Optimal Blue (and its competitors) by reading online reviews, talking to other lenders, and asking for references. Consider factors like responsiveness, knowledge of the support team, and the effectiveness of the training programs.

How to get more specific details:

• Contact ICE Mortgage Technology Directly: The best way to get accurate and up-to-date information about Optimal Blue s offerings, pricing, and customer care is to contact ICE Mortgage Technology directly through their website.
• Consult with Mortgage Technology Consultants: Independent consultants specializing in mortgage technology can provide unbiased advice on selecting the right PPE and LOS for your needs.
• Attend Industry Events: Mortgage industry conferences and trade shows are excellent opportunities to learn about the latest technology solutions and talk to vendors.

In summary, Optimal Blue is a significant player in the mortgage technology market, offering a comprehensive PPE platform. However, it s essential to carefully evaluate your specific needs and compare Optimal Blue s offerings with those of its competitors before making a decision. Good luck!