Tag Archives: capital markets platform

Optimal Blue Promotes Industry Experts to New Executive Roles to Accelerate Innovation and Prioritize Partnerships

Erin Wester Promoted to Chief Product Officer and Mike Vough Promoted to Head of Corporate Strategy

PLANO, Texas, Nov. 11, 2024 (SEND2PRESS NEWSWIRE) — 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.

Image caption: (L-R) Erin Wester and Mike Vough.

“At Optimal Blue, we are very fortunate to not only have the latest and most accurate technology in the industry, but we also have proven industry experts that bring incredible experience in all aspects of secondary marketing. By aligning all product strategy under a mortgage technology expert like Erin, we will accelerate the delivery of value and innovation to our clients,” said Joe Tyrrell, CEO of Optimal Blue. “We’re not just building new client value; we are also actively acquiring and partnering. As the leading secondary marketing platform in the industry, it is important that we are complementing our own innovation with both acquired solutions and strategic partnerships to do more for our clients. Mike’s background in all aspects of capital markets, business enablement and growth strategy will enable us to move quicker here as well.”

Wester, who was formerly focused on the company’s product and pricing solutions, will now oversee product strategy for the entire Optimal Blue capital markets platform, which includes product and pricing, broker pricing solutions, hedging and trading platforms, investor services solutions, Comergence compliance solutions, user experience and design departments, and the integrations department. She will also lead Optimal Blue’s initiative to deliver more value to clients without incremental costs to ultimately improve their ROI.

“I have never been more excited about our future at Optimal Blue,” said Wester. “We have a new UI, a full GenAI suite with our new AI assistants, we have prioritized originators in our automation roadmap. We are completely opening up our configuration capabilities to our clients, and also engaging in custom solutions. But what is most exciting is that everything we are doing is being driven by our mission to improve our clients’ profitability on every loan, which means a lot of what we are delivering will be at no incremental cost to our clients.”

Vough, who was previously leading the strategy for Optimal Blue’s hedging and trading solutions, will now focus on corporate strategy, which includes business development to support the company’s integration partner network, as well as corporate development to drive its acquisition strategy. Vough will also drive the continued growth of Optimal Blue’s data business, including the company’s data reseller partners.

“While other companies are losing executives and struggling to support customers, we are growing and expanding,” said Vough. “As Erin and our amazing product teams are quickly driving innovation, we will complement their efforts by providing our partners with incredible support and tools to enable them to deliver more value faster to our clients, while also evaluating potential acquisitions that can assist us in expanding our offerings to help our lenders and investors capitalize on more opportunities.”

Optimal Blue clients are invited to attend the inaugural Optimal Blue Summit February 3–5, 2025, at the Marriott Marquis San Diego Marina, where major product announcements will be made live. Additional details and registration information for the Summit are available on the Optimal Blue Summit 2025 webpage.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry’s only end-to-end capital markets platform. The company helps lenders of all sizes and scopes maximize profitability and operate efficiently so they can help American borrowers achieve the dream of homeownership. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that, in any market environment, allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit OptimalBlue.com.

IMAGE LINK for media: https://www.Send2Press.com/300dpi/24-1111-s2p-obnewhires-300dpi.jpg

Image caption: (L-R) Erin Wester and Mike Vough.

NEWS SOURCE: Optimal Blue

This press release was issued on behalf of the news source (Optimal Blue), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

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Optimal Blue Launches Competitive Data License to Help Lenders Optimize Margins With Competitive Loan Pricing Data

PLANO, Texas /ScoopCloud/ -- 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. The data solution provides lenders with extensive insight into markups, loan-level price adjustments (LLPAs), servicing-released premiums (SRP), concessions, loan officer compensation, base price, and PAR rate. The offering's data set allows for granular benchmarking at various levels - from organization-wide to individual loan officers - enabling lenders to identify areas for improvement, replicate successful strategies, and maintain a competitive edge.

"We often hear from our lenders how difficult it is to make informed pricing decisions given the lack of visibility into detailed market data," said Brennan O'Connell, director of data solutions at Optimal Blue. "Competitive Data License ensures that our PPE customers have full transparency into the granular pricing components needed for a full price trace from buy-side to sell-side - giving Optimal Blue clients a strategic advantage in benchmarking their entire pricing strategy."

Competitive Data License highlights which locks were completed by the lender using the data set, while also offering additional details, such as which loan officer locked the loan. Lenders have the flexibility to feed the raw data from Competitive Data License into their own business intelligence platforms to assess their performance relative to competitors and adjust pricing strategies - such as repricing or hedging optimization - based on market shifts.

Competitive Data License is available exclusively to Optimal Blue PPE users, and those currently using Market Data License for competitive analytics will be upgraded automatically to the more robust Competitive Data License data set. Market Data License will remain available to lenders not using the Optimal Blue PPE.

Optimal Blue will be hosting a webinar on July 10 for those interested in learning more about Competitive Data License.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes operate profitably and efficiently so they can fulfill the momentous role of helping American borrowers achieve the dream of homeownership, regardless of market dynamics. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between.

To learn more, visit https://www2.optimalblue.com/.

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.

Related link: https://www2.optimalblue.com/

Optimal Blue Names Joe Tyrrell Chief Executive Officer

PLANO, Texas /ScoopCloud/ -- 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. This includes serving as president of ICE Mortgage Technology, as well as in various leadership roles at Ellie Mae, including chief operating officer, prior to its acquisition in 2020. Most recently, Tyrrell served as the CEO of Medallia, a customer and employee experience company.

"I have always been attracted to companies that make their clients' success their top priority, and that is especially true with Optimal Blue, the clear market leader in secondary marketing technology," said Tyrrell. "For the past year and a half, I have been delivering innovation and real generative AI capabilities to the largest and most trusted consumer, health care, hospitality, financial services, and technology brands in the world, and I am excited to now bring those capabilities to Optimal Blue's lenders and partners in an industry that I love."

Smith will continue his role within Constellation Software, where he serves as president of Andromeda, the portfolio in which Optimal Blue operates. In addition to overseeing the CEO transition, Smith will continue supporting the success of the Optimal Blue business through his position.

"It was a priority to identify the right leader to support our investment in Optimal Blue and the long-term success of the business," said Smith. "We've found that and more with Joe Tyrrell, who is passionate about client relationships and innovation - two tenets that have been core to Optimal Blue's culture throughout its decades as a market leader. Joe's extensive experience in this industry affords him a fundamental understanding of the needs and challenges lenders face and ways innovative technology and real-time data can solve them. Along with the other leaders within the Andromeda portfolio of Constellation Software, I look forward to continuing to support the success of Optimal Blue under Joe's leadership."

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes operate profitably and efficiently so they can fulfill the momentous role of helping American borrowers achieve the dream of homeownership, regardless of market dynamics. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between.

To learn more, visit http://OptimalBlue.com/.

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.

Related link: https://www2.optimalblue.com/

MCTlive! Capital Markets Platform Becomes First to Integrate with Freddie Mac’s Whole Loan Purchase Advice Seller API

SAN DIEGO, Calif. /ScoopCloud/ -- MCT's award-winning capital markets platform, MCTlive!, is the first to integrate with Freddie Mac's Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Freddie Mac purchase data directly, instead of waiting to run reports through a Loan Origination System (LOS).

By removing manual data entry into the LOS the connection to this API will provide more accurate and timelier 'Held For Sale' reporting. The integration also allows MCTlive's Loan Commitment Tracker to automatically draw down outstanding commitments as loans are purchased by Freddie Mac.

"We really appreciate Freddie Mac on their continued drive to improve the efficiency in which data is communicated back to lenders," said Paul Yarbrough, Senior Director of MCT's Client Success Group. "With Freddie's new Cash Settlement Purchase Statement API, MCT clients are now able to automatically pull in any purchase advice statements posted by Freddie Mac. Subsequently, MCT clients can utilize our state-of-the-art data writeback to update the LOS quicker and more accurately saving the valuable time of critical staff at the lender."

As a top purchaser of whole loans from the MCT lender client base, integrating with the Freddie Mac Whole Loan Purchase Advice Seller API completes a large step in MCT's roadmap for automating and independently verifying performance reporting. MCT is in the process of working with many whole loan buyers to automate the delivery of their purchase advices into MCTlive! Please contact MCT today to start the process of automating the delivery of purchase advices for whole loan buyers and sellers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark-to-market services, and an award-winning comprehensive capital markets software platform called MCTlive!

MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Healdsburg, and San Antonio. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MCT's award-winning capital markets platform, MCTlive!, is the first to integrate with Freddie Mac's Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Freddie Mac purchase data directly, instead of waiting to run reports through a Loan Origination System (LOS).

Related link: https://mct-trading.com/

MCT Integrates with the Fannie Mae Connect Whole Loan Purchase Advice Seller API

SAN DIEGO, Calif. /ScoopCloud/ -- MCT's award-winning capital markets platform, MCTlive!, is now integrated with the Fannie Mae Connect™ Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Fannie Mae purchase data instantly, instead of waiting to run reports through a Loan Origination System (LOS). The integration also allows MCTlive's Loan Commitment Tracker to automatically draw down outstanding commitments as loans are purchased by Fannie Mae.

"We thank Fannie Mae for again providing leadership in API system to system communication in capital markets. As the largest purchaser of whole loans in the MCT lender client base, integrating to the Fannie Mae Connect Whole Loan Purchase Advice Seller API completes a large step in MCT's roadmap for automating and independently verifying performance reporting," said Phil Rasori, COO of MCT. "By removing manual data entry into the LOS the connection to this API will provide more accurate and timely 'Held For Sale' reporting."

MCT is in the process of working with many whole loan buyers to automate the delivery of their purchase advices into MCTlive! MCT can be contacted to start the process of automating purchase advices for whole loan buyers or sellers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes. Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

RELATED LINKS:

https://mct-trading.com/solutions/mortgage-hedging/mctlive/

https://mct-trading.com/contact/

MCT's award-winning capital markets platform, MCTlive!, is now integrated with the Fannie Mae Connect™ Whole Loan Purchase Advice Seller API. This API connection allows MCT Mark-to-Market and Hedge Accounting Reports to be updated with Fannie Mae purchase data instantly, instead of waiting to run reports through a Loan Origination System (LOS).

Related link: https://mct-trading.com/