Tag Archives: PLANO, Texas

December Mortgage Lock Data Reveals Year-Over-Year Increases Across All Loan Types Despite Seasonal Downturn

Optimal Blue's December 2024 Market Advantage report highlights annual mortgage production gains and record low conforming loan share

PLANO, Texas, Jan. 14, 2025 (SEND2PRESS NEWSWIRE) — 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.

Optimal Blue December 2024 Market Advantage report
Image caption: Optimal Blue December 2024 Market Advantage report.

“December’s data illustrates how the market can adapt to shifting conditions,” said Brennan O’Connell, director of data solutions at Optimal Blue. “While a seasonal dip was expected, the year-over-year growth reflects resilience and an increasing demand for refinance opportunities driven by rate adjustments. Notably, conforming loan share has hovered around historic lows for the past five months, hitting 51% last month. This trend illustrates how borrowers are relying increasingly on government and non-conforming loans to finance in a challenging market.”

Key findings from the Market Advantage report, derived from direct-source mortgage lock data, include:

  • Rates fluctuate, ending December higher: After initial declines, rates rose throughout the month. The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate ended December at 6.83%, up 16 bps from the end of November. FHA and VA rates followed suit, rising 14 bps and 18 bps, respectively. Jumbo rates fell slightly, ending just below 7%.
  • Refinance activity spikes: The share of refinance locks climbed to 24%, the highest since September. Rate-and-term refinances surged 33% MoM, while cash-out refinances saw a 3% decline. Purchase volumes dropped 13% MoM, in line with seasonal norms, while cash-out refinances decreased 3%.
  • Production mix shifts continue: The conforming loan share dropped another 1.5% MoM to 51%, the lowest figure since Optimal Blue began reporting lock data in January 2018, marking continued movement away from GSE-eligible products. FHA, VA, and non-conforming loans gained ground, with FHA locks rising to 21%, VA at nearly 11.5%, and non-conforming loans at 16%.
  • Purchase credit quality hits seven-year high: Average homebuyer credit scores were higher each month in 2024 than the previous 72 months.
  • MoM credit trends are stable: Average credit scores for purchase and rate-and-term refinance locks fell by 2 points to 737 and 727, respectively. Cash-out refinance scores rose slightly, increasing by 2 points to 697.
  • Loan amounts plateau as home prices decline: The average loan amount rose by $500 to $376.9K, while average home purchase prices dropped $4.1K to $473.7K.

The full Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at: https://www2.optimalblue.com/wp-content/uploads/2025/01/OB_MarketAdvantage_MortgageDataReport_Dec2024.pdf

This month’s Market Advantage podcast features Shant Banosian, executive vice president of sales at Rate, as a guest commentator. Access the podcast: https://market-advantage.captivate.fm/listen.

About the Market Advantage Report

Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE – the mortgage industry’s most widely used product, pricing, and eligibility engine – the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders’ pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

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 https://OptimalBlue.com/.

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.

To view the original story, visit: https://www.send2press.com/wire/december-mortgage-lock-data-reveals-year-over-year-increases-across-all-loan-types-despite-seasonal-downturn/

Copr. © 2025 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P123332 NOREL-3B

 

New Mexico Youth Soccer Association Renews Longstanding Partnership with Sports Connect to Drive Soccer Forward

PLANO, Texas, and ALBUQUERQUE, N.M., Jan. 8, 2025 (SEND2PRESS NEWSWIRE) — New Mexico Youth Soccer Association (NMYSA), the governing body for US Youth Soccer in New Mexico, is proud to announce an extended multi-year partnership with Sports Connect powered by Stack Sports. As the Exclusive Technology, Online Registration, and League Management Provider, Sports Connect will continue delivering innovative solutions for NMYSA, affiliated clubs, and leagues, empowering administrators, coaches, families, and players to thrive on and off the field.

Sports Connect and New Mexico Youth Soccer Association
Image caption: Sports Connect and New Mexico Youth Soccer Association extend partnership.

Through this extended collaboration, NMYSA will continue utilizing Sports Connect’s Split Pay feature, streamlining the billing process for collecting member fees efficiently across the state, clubs, and leagues.

Key Highlights of the Partnership Renewal Include:

  • Continued access to a robust, mobile-first registration platform.
  • Enhanced tools for schedule management, communication, and compliance tracking.
  • A comprehensive suite of additional features for code-free professional websites, data insights, real-time membership reporting, and more.
  • Seamless integration with NMYSA’s state database for efficient reporting and oversight.

Adam Abney, General Manager of Sports Connect, expressed his enthusiasm about the extended collaboration: “We are honored to continue our partnership with NMYSA, supporting their mission to grow and advance soccer in New Mexico. Through our technology solutions, we aim to reduce administrative burdens and allow more focus on creating exceptional soccer experiences for youth players.”

CELEBRATING EXCELLENCE: GLORIA FABER HONORED WITH STACK SPORTS LEADERSHIP MVP AWARD

In recognition of her exceptional dedication and impact on the youth soccer community, Gloria Faber, Executive Director of NMYSA, has been honored with a 2024 Stack Sports Leadership MVP Award. This national honor recognizes leaders who demonstrate unwavering commitment, innovation, and leadership in advancing youth sports within their communities.

“Gloria’s passion and dedication to soccer in New Mexico are truly inspiring. Her tireless efforts ensure clubs, leagues, and players have the resources and support to thrive,” said Adam Abney, General Manager of Sports Connect. “We are thrilled to recognize her contributions with this well-deserved award.”

The Stack Sports Leadership MVP Award highlights individuals who excel in their roles and make a measurable difference in their organizations and local communities. Gloria’s leadership has been instrumental in driving NMYSA’s success, fostering collaboration, and ensuring youth soccer continues to grow throughout the state.

Watch the 2024 Stack MVP Awards: https://youtu.be/YB91GrlFns4?si=fU9dw2eByO6MPeM-

ABOUT NEW MEXICO YOUTH SOCCER ASSOCIATION (NMYSA)

The New Mexico Youth Soccer Association is a 501(c)(4) non-profit and National Youth State Association of the United States Soccer Federation. Representing 18 leagues and 45 clubs, NMYSA serves nearly 24,000 registered players, coaches, and administrators across New Mexico and neighboring regions. NMYSA is dedicated to providing recreational and competitive soccer opportunities for youth aged 5-19. Learn more at https://www.nmysa.net/.

ABOUT STACK SPORTS

With nearly 50 million users across 35 countries, Stack Sports is the global leader in sports technology solutions. Serving some of the largest organizations, including the U.S. Soccer Federation, Little League Baseball, and Pop Warner, Stack Sports focuses on Grassroots Engagement, Participation Growth, Recruiting Pathways, and Elite Player Development. Learn more at https://stacksports.com/.

NEWS SOURCE: Stack Sports


This press release was issued on behalf of the news source (Stack Sports), 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.

To view the original story, visit: https://www.send2press.com/wire/new-mexico-youth-soccer-association-renews-longstanding-partnership-with-sports-connect-to-drive-soccer-forward/

Copr. © 2025 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P123172 NOREL-3B

 

Stack Sports Teams Up with Gridiron Football to Drive the Sport of Flag Football Forward

Through Stack Sports’ easy-to-use Sports Connect platform, Gridiron Football leagues everywhere have access to an innovative suite of tools

PLANO, Texas, Dec. 23, 2024 (SEND2PRESS NEWSWIRE) — Stack Sports, the leading provider of sports management solutions, is excited to announce its renewed partnership with Gridiron Football, a national leader in youth non-contact football. As part of our partnership, Sports Connect will continue to serve as a preferred registration and website provider of Gridiron Football leagues across the United States.

Sports Connect and Gridiron Football
Image caption: Sports Connect and Gridiron Football partner.

Through Stack Sports’ easy-to-use Sports Connect platform, Gridiron Football leagues everywhere have access to an innovative suite of tools that allow administrators to streamline online and mobile-first player registration processes, easily manage schedules, and improve communication channels, resulting in a more seamless experience for athletes, coaches, and parents.

Adam Abney, General Manager of Sports Connect, expressed excitement over the renewed partnership with Gridiron Football. “This partnership perfectly aligns with our mission to make youth sports more accessible and inclusive. By providing Gridiron Football leagues with our user-friendly solutions, we’re excited to empower operators to build exceptional programs and inspire young athletes of all abilities to thrive.”

Key highlights of the partnership include:

  • Access to Stack Sports’ comprehensive ecosystem of solutions, including industry-leading registration management, robust scheduling tools, an extensive communication hub, and more.
  • Access to a connected Mobile-App experience through Stack Team App and live streaming capabilities via Stack Streaming.
  • Committed support from Stack Sports’ team of experts, offering training and assistance to optimize Gridiron Football’s platform utilization, including Sports Connect Academy, a learning management system designed to assist and educate all Sports Connect administrators.

“At Gridiron Football, we’re committed to providing exceptional experiences for families and comprehensive development for athletes through non-contact football leagues, camps and tournaments”, said Scott Dillon, CEO of Gridiron Football. “We’re continuing our partnership with Stack Sports because it provides an efficient platform to communicate with our football community, helping us achieve those goals.”

Partnering with Gridiron Football aligns with Stack Sports’ mission of transforming the youth sports experience, and reaffirms its commitment to driving innovation and excellence within the youth sports industry.

For more information about Stack Sports and its solutions, visit: https://sportsconnect.com. To learn more about Gridiron Football, visit: https://gridironfb.com.

About Stack Sports:

With nearly 50 million users in 35 countries, Stack Sports is a global technology leader in SaaS platform offerings for the sports industry. The company provides world-class software and services to support national governing bodies, youth sports associations, leagues, clubs, parents, coaches, and athletes. Some of the largest and most prominent sports organizations including the U.S. Soccer Federation, Little League Baseball and Softball, and Pop Warner Little Scholars rely on Stack Sports technology to run and manage their organizations.

Stack Sports is headquartered in Dallas and is leading the industry one team at a time focusing on four key pillars — Grassroots Engagement, Participation Growth, Recruiting Pathways, and Elite Player Development. To learn more about how Stack Sports transforms the sports experience, please visit https://stacksports.com/.

About Gridiron Football:

Gridiron Football is the largest independent non-contact football organization, operating 175 leagues across the country. We bring together professionally trained coaches, officials and league organizers to provide an unrivaled football experience for all boys and girls, ages 4-17. From recreational to highly competitive, our nationally recognized 5v5 flag and 7v7 football leagues, camps and tournaments help young athletes develop on-and-off the field. For more information, visit https://gridironfb.com/.

NEWS SOURCE: Stack Sports


This press release was issued on behalf of the news source (Stack Sports), 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.

To view the original story, visit: https://www.send2press.com/wire/stack-sports-teams-up-with-gridiron-football-to-drive-the-sport-of-flag-football-forward/

Copr. © 2024 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P123024 NOREL-3B

 

Mortgage Lock Activity Fell in November as Interest Rates Hit Their Highest Levels Since July

Optimal Blue's November 2024 Market Advantage mortgage data report finds overall rate lock volume down 25% month over month, yet 12% higher year over year, providing some reason for optimism

PLANO, Texas, Dec. 10, 2024 (SEND2PRESS NEWSWIRE) — 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.

Optimal Blue November 2024 Market Advantage mortgage data report
Image caption: Optimal Blue November 2024 Market Advantage mortgage data report.

Purchase lock volume was down 21% MoM, while cash-out and rate-and-term refinance volumes fell 20% and 50%, respectively. However, year-over-year (YoY) metrics show resilience in the market, with total rate lock volume up 12% from November 2023, purchase volume up a modest 5%, and cash-out and rate-and-term refinances increasing 35% and 95%, respectively, sparking optimism among market watchers.

While high rates prevailed for much of the month, they dropped slightly in the week leading up to the Thanksgiving holiday. The OBMMI 30-year conforming fixed rate index, the benchmark that will be used as the underlying price for CME Group’s new Mortgage Rate futures, finished the month down 11 bps from October. FHA and VA 30-year rates fell as well, closing the month down 7 bps and 20 bps, respectively. The 30-year jumbo rate showed a slight increase to close the month, up 16 bps from the end of October.

Product mix changes mirrored the month’s affordability concerns. FHA loans, which offer as little as 3.5% down and more lenient credit requirements, gained share at the expense of all other loan types, notching up another three-quarters of a point to account for 20% of total production. That puts FHA market share back near its peak of just over 22% of total production in November 2023. VA loan volume fell in November, but is up YoY at 11% of total volume. Government production in total accounted for nearly one-third of loan volume in November.

“The rising percentage of FHA loans indicates affordability continues to be a concern among homebuyers as we move into year-end,” said Brennan O’Connell, director of data solutions at Optimal Blue. “In spite of the recent dip in purchase and refinance activity, we see the YoY improvements in purchase volume, cash-out and rate-and-term refinances as a bright spot.”

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, include:

  • Rates dip slightly for conforming and government-backed loans: The OBMMI 30-year conforming averaged 30 bps higher in November, though it ended the month at 6.68%, an 11-bps decrease from October. FHA rates dropped by 7 bps to 6.36%, while VA rates dropped 20 bps to 6.16%. The OBMMI jumbo index rate rose a more moderate 16 bps, ending the month at 6.98%.
  • Purchase lock volume softens: Purchase lock volume was down 21% MoM. Also significant, purchase lock counts – which are a key measure for market health that excludes the impact of HPA and volatile refi activity – were down 3% YoY, breaking a two-month trend of positive YoY momentum.
  • Conforming loan share continues to fall: Conforming share ended the month below 53%, roughly 20% lower than the peak levels seen in 2020. Non-conforming lending – including both non-QM and jumbo – fell slightly in November. Nevertheless, non-conforming loans remained near their recent market share high at just under 15% – a nearly five-percentage-point increase in market share over the same period last year.
  • Refinance demand softens: Cash-out and rate-and-term refinance volumes fell 20% and 50%, respectively. However, YoY metrics provide reason for optimism with cash-out and rate-and-term refinances gaining 35% and 95% YoY, respectively.
  • Credit quality holds steady: Average credit scores for purchase loans were flat at 739, while average scores on refinance locks dropped slightly. Cash-out average credit fell 2 points to 695, and rate-and-term average credit dropped 1 point to 730.
  • Home prices and average loan amounts dip: In November, the average loan amount dropped from $380.1K to $376.4K. Average home purchase prices ticked down as well, falling from $482.4K to $477.4K.

The full November 2024 Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at: https://www2.optimalblue.com/wp-content/uploads/2024/12/OB_MarketAdvantage_MortgageDataReport_Nov2024.pdf.

This month’s Market Advantage podcast features Agha Mirza, CME Group managing director and global head of rates and OTC products, a guest commentator. The podcast can be accessed at: https://market-advantage.captivate.fm/listen.

About the Market Advantage Report:

Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE – the mortgage industry’s most widely used product, pricing, and eligibility engine – the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders’ pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

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.

MULTIMEDIA:

Image link for media: https://www.Send2Press.com/300dpi/24-1210-s2p-opbluenovreport-300dpi.jpg

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.

To view the original story, visit: https://www.send2press.com/wire/mortgage-lock-activity-fell-in-november-as-interest-rates-hit-their-highest-levels-since-july/

Copr. © 2024 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P122703 NOREL-3B

 

Optimal Blue Announces Tony Hawk, Housing Industry Leaders to Headline Inaugural User Conference

Robust speaker lineup includes a leading economist, an editor in chief, tech leaders, and Optimal Blue's team of subject matter experts

PLANO, Texas, Dec. 5, 2024 (SEND2PRESS NEWSWIRE) — 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.

Optimal Blue Announces Tony Hawk, Housing Industry Leaders to Headline Inaugural User Conference
Image caption: Optimal Blue Announces Tony Hawk, Housing Industry Leaders to Headline Inaugural User Conference.

The Optimal Blue Summit will take place Feb. 3–5, 2025, at the Marriott Marquis San Diego Marina, bringing together clients from across primary and secondary mortgage networks to connect, learn, and share best practices for maximizing lending profitability. In addition to an engaging speaker lineup, the three-day event will feature sessions led by Optimal Blue’s team of subject matter experts, as well as major product announcements, focus groups, and opportunities for networking.

“The Optimal Blue Summit will bring the mortgage industry together for valuable content, knowledge-sharing, and opportunities to optimize technology and data to gain a competitive advantage,” said Sara Holtz, chief marketing officer of Optimal Blue. “We are curating an impressive speaker lineup for our attendees that includes respected names from Optimal Blue, industry organizations, and beyond to provide our customers with actionable insights so they can reach their highest productivity and profit potential.”

Agenda highlights include:

  • Insights into Optimal Blue’s product roadmap and demonstrations of newly launched features
  • A 2025 economic outlook from Michael Fratantoni, Ph.D., followed by a deeper dive discussion on the secondary and capital market outlook from Sasha Hewlett, AMP, who serves as staff representative for the MBA Secondary and Capital Markets Committee
  • Observations from native San Diegan Tony Hawk, a legendary skateboarder, entrepreneur, and founder of The Skatepark Project (TSP), a nonprofit organization helping to build safe and inclusive public skateparks in underserved communities
  • AI-focused panels featuring a cloud solution architect and a technical leader from Microsoft, focused on maximizing productivity and profitability with AI in lending operations

Additional details and registration information are available on the Optimal Blue Summit 2025 webpage at https://www2.optimalblue.com/optimal-blue-summit/.

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 https://OptimalBlue.com/.

MULTIMEDIA:

VIDEO (YouTube): https://youtu.be/hwh4MwT7Hrc?si=jeed5bkWt528gHiB

Image link for media: https://www.Send2Press.com/300dpi/24-1205-s2p-opbluehawk-300dpi.jpg

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.

To view the original story, visit: https://www.send2press.com/wire/optimal-blue-announces-tony-hawk-housing-industry-leaders-to-headline-inaugural-user-conference/

Copr. © 2024 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P122668 NOREL-3B

 

October Mortgage Lock Data Shows Resilience and Cracks in the Mortgage Market as Interest Rates Tick up 65 Basis Points

Optimal Blue's October 2024 Market Advantage mortgage data report shows strong purchase mortgage growth, though a shift away from conforming loans signals strained affordability

PLANO, Texas, Nov. 12, 2024 (SEND2PRESS NEWSWIRE) — 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. The report also shows a notable shift away from conforming loans, indicating affordability concerns are pushing buyers toward alternative financing options.

Optimal Blue: National Rate Lock Metrics Oct. 2024
Image caption: Optimal Blue: National Rate Lock Metrics Oct. 2024.

“Despite a tough rate trajectory, we saw strong growth in both purchase lock volume and counts, which are both positive signals for mortgage production,” said Brennan O’Connell, director of data solutions at Optimal Blue. “While purchase growth is encouraging, signs of how buyers are adapting to higher rates indicate continued affordability pressures. Production mix data shows a shift from conforming loans to FHA and non-conforming products, which often offer more flexible financing terms.”

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, include:

  • Rates rise across the board: The OBMMI 30-year conforming rate ended October at 6.79%, marking a 65-bps increase from September. FHA rates rose by 54 bps to 6.43%, while VA rates saw the largest increase, climbing 73 bps to 6.36%. The OBMMI jumbo index rate rose a more moderate 41 bps to end at 6.82%.
  • Purchase lock volume grows despite rate increases: Purchase lock volume rose 12% MoM. Also significant, purchase lock counts – which are a key measure for market health that excludes the impact of HPA and volatile refi activity – rose 9% year over year (YoY), continuing a positive trend that started in September. This increase in purchase locks reflects ongoing demand.
  • Affordability concerns shift production mix: Conforming loan share fell to its lowest point since tracking began in 2018, now representing 53% of volume. At the same time, FHA locks rose, accounting for one in five purchase transactions, as buyers sought more accessible financing options. Non-conforming loans also gained ground as borrowers leaned more heavily on non-QM and jumbo loans to adapt to affordability challenges.
  • Refinance demand softens: The rise in rates dampened refinance interest, with rate-and-term refinance volume dropping 45% MoM. Cash-out refinance activity saw a slight 6% increase, but the overall refinance share declined to 23% of total volume. With the exception of August and September 2024, refinance levels were still higher than any other month since April 2022.
  • Credit quality declines in refinance sector: Average credit scores remained high for purchase loans; however, refinance credit scores, particularly for rate-and-term refinances, saw a drop, with the average score declining by 6 points to 730.
  • Home prices trend upward while average loan amounts dip: October saw a second consecutive month of home price increases, with the average purchase price rising from $475.8K to $482.4K. Meanwhile, the average loan amount fell by $3.6K to $380.1K.

The full October 2024 Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at (PDF): https://www2.optimalblue.com/wp-content/uploads/2024/11/OB_MarketAdvantage_MortgageDataReport_Oct2024.pdf.

This month’s Market Advantage podcast features Dave Savage, chief innovation officer at TrustEngine and founder of Mortgage Coach, as a guest commentator. The podcast can be accessed at: https://market-advantage.captivate.fm/listen.

About the Market Advantage Report

Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE – the mortgage industry’s most widely used product, pricing, and eligibility engine – the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders’ pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

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 https://OptimalBlue.com/.

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.

To view the original story, visit: https://www.send2press.com/wire/october-mortgage-lock-data-shows-resilience-and-cracks-in-the-mortgage-market-as-interest-rates-tick-up-65-basis-points/

Copr. © 2024 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P122198 NOREL-3B

 

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.

Erin Wester and Mike Vough of Optimal Blue
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.

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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.

To view the original story, visit: https://www.send2press.com/wire/optimal-blue-promotes-industry-experts-to-new-executive-roles-to-accelerate-innovation-and-prioritize-partnerships/

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Optimal Blue Announces Three Major Product Releases, Continuing Streak of Aggressive Product Innovation and No-Cost Feature Additions

Company expands AI assistant suite, releases tool to help originators identify most favorable loan scenario, and makes data benchmarking product available to investors at no cost

PLANO, Texas, Oct. 28, 2024 (SEND2PRESS NEWSWIRE) — Optimal Blue today announced three major product releases: the expansion of its AI assistant suite, the introduction of Scenario Optimizer, and the free availability of Investor Pricing Insight to investor clients. These product updates build on the company’s commitment to rapidly delivering high-impact solutions that tackle real-world challenges while helping clients maximize profitability.

Optimal Blue logo
Image caption: Optimal Blue.

“At Optimal Blue, we are setting an even higher bar for mortgage technology innovation by investing in advanced technologies that deliver value-based, first-of-their-kind features at no additional cost,” said Joe Tyrrell, CEO of Optimal Blue. “Each of these newly announced updates helps our clients address changing market conditions with agility, clarity, and precision. From loan officers to secondary marketing teams and investors, we empower mortgage professionals with tools designed to maximize their profitability on every loan transaction.”

EXPANDED AI ASSISTANT SUITE

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. This development builds on Optimal Blue’s July 2024 introduction of its first three AI-powered assistants, which help secondary marketing teams better manage risk and profitability with real-time insights that simplify complex data analysis.

The Optimal Blue Position Assistant provides mortgage lenders with critical daily insights into changes in their risk exposure by automatically summarizing the top drivers that impact their hedged mortgage pipeline positions. Profitability Assistant’s daily insights overview has been enhanced with a monthly view of key profitability drivers that allow users to assess performance quickly.

The AI assistant will be demoed live at the Mortgage Bankers Association Annual Convention and Expo on Tuesday, Oct. 29. The demo is part of the AI Tech Showcase, which will take place on THE HUB STAGE from 1:30 to 3 p.m. MT.

SCENARIO OPTIMIZER

The addition of Scenario Optimizer to Optimal Blue’s product, pricing, and eligibility (PPE) engine enables loan originators to quickly identify the most favorable loan scenarios for borrowers by automatically generating side-by-side loan comparisons. The feature boosts loan officer productivity while strengthening relationships with borrowers by delivering fast, digital service and transparent pricing guidance.

INVESTOR PRICING INSIGHT

Optimal Blue’s Investor Pricing Insight data solution is now available at no cost to investor users. Additionally, Optimal Blue has introduced new functionality to the solution that allows investors to benchmark their non-qualified mortgage (non-QM) rate sheet pricing against other investors in real time. Introduced in 2022, Investor Pricing Insight allows correspondent and wholesale investors to benchmark their pricing against competitors.

Additional new product announcements will be introduced live at the Optimal Blue Summit, a national user conference that will be held February 3–5, 2025, at the Marriott Marquis San Diego Marina. Additional details and registration information for the Summit are available on the Optimal Blue Summit 2025 website.

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 https://OptimalBlue.com/.

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RELATED LINKS:

https://www2.optimalblue.com/optimal-blue-summit/

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.

To view the original story, visit: https://www.send2press.com/wire/optimal-blue-announces-three-major-product-releases-continuing-streak-of-aggressive-product-innovation-and-no-cost-feature-additions/

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Rate-and-Term Refinance Locks Surge 700% Over Previous Year Following the FOMC’s September Interest Rate Reduction

Optimal Blue's September 2024 Market Advantage mortgage data report released in conjunction with the inaugural Market Advantage podcast featuring Mortgage Bankers Association economist Joel Kan guest commentator

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 Sept. 2024 Report
Image caption: Optimal Blue Sept. 2024 Report.

“Refinance production has been trending higher for a few months now as mortgage rates rallied, but purchase activity had been stubbornly stagnant. However, September volumes indicate the tide may be turning,” said Brennan O’Connell, director of data solutions at Optimal Blue. “Excluding April of this year, which was impacted by the timing of Easter, September marks the first month with a year-over-year (YoY) increase in purchase locks since the Fed began raising rates in Spring of 2022. As we move into Q4, this is a very encouraging sign that the market may have found a floor and production is on the upswing.”

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data, include:

  • Refinance volumes surge: On an absolute basis, refinance production reached the highest level seen since January 2022. Rate-and-term refinance lock volume was up nearly 50% MoM and 700% YoY. Cash-out refinance volume rose a more modest 6% MoM but was still up more than 50% YoY.
  • Mortgage rates fall across the board: The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming benchmark interest rate dropped 23 bps, while jumbo, FHA, and VA rates were down 22, 25, and 16 bps, respectively. The drop in mortgage interest rates did not directly correspond to the 50 bps FOMC rate cut because an anticipatory market had already priced a reduction in rates leading into September.
  • Conventional and VA production grew market share: The share of conforming loan production rose roughly .5% to 54.4%, and the share of non-conforming production – including jumbo and non-QM loans – rose .25% to 12.6%. The share of FHA loans fell roughly 1% to 18.7%, while VA rose .2% to 13.7%.
  • Average borrower credit increased across the board: The credit scores of rate-and-term refinance borrowers rose an average of 6 points to 737. The average conventional borrower credit score rose to 757, the highest since December 2020.
  • Average loan amounts and home prices rose: From August 2024 to September 2024, the average loan amount increased from $372.4K to $383.7K. The average home purchase price ticked up $10K to $475.8K after falling the previous two months.

The inaugural Market Advantage podcast has been released today in conjunction with the September Report. This month’s podcast features Joel Kan, vice president and deputy chief economist at the Mortgage Bankers Association, as a guest commentator. The podcast can be accessed at: https://market-advantage.captivate.fm/listen.

The full September 2024 Market Advantage report, which provides more detailed findings and additional insights into U.S. mortgage market trends, can be viewed at: https://www2.optimalblue.com/wp-content/uploads/2024/10/OB_MarketAdvantage_MortgageDataReport_Sept2024.pdf.

About the Market Advantage Report:

Formerly known as the Originations Market Monitor, Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE – the mortgage industry’s most widely used product, pricing, and eligibility engine – the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders’ pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

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 https://OptimalBlue.com/.

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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.

To view the original story, visit: https://www.send2press.com/wire/rate-and-term-refinance-locks-surge-700-over-previous-year-following-the-fomcs-september-interest-rate-reduction/

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Optimal Blue Expands Expertise, Market Leadership With Launch of Two In-House Podcasts

Weekly Optimal Insights podcast provides timely market analysis; monthly Market Advantage podcast will complement existing mortgage data report

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. Additionally, the Market Advantage podcast will complement the company’s popular monthly Market Advantage mortgage data report to deliver additional commentary and guest interviews.

Optimal Blue logo
Image caption: Optimal Blue.

“Optimal Blue is committed to sharing our unmatched depth of capital markets expertise with our clients,” said Sara Holtz, chief marketing officer of Optimal Blue. “By adding weekly, point-in-time market analysis via the Optimal Insights podcast, as well as deeper data insights and guest discussions by way of the Market Advantage podcast, we expand our outreach and extend additional, no-cost value into the industry.”

The first episode of the Optimal Insights podcast is now available, and the initial episode of the Market Advantage podcast will be released in tandem with Optimal Blue’s monthly mortgage data report in early October. Viewers can access both productions via the Optimal Blue LinkedIn page and on major podcast platforms.

“Our clients and industry partners have long relied on Optimal Blue for trusted insights and commentary, and these podcasts are an evolution of our commitment to keeping the industry informed,” said Jim Glennon, vice president of hedging and trading client services at Optimal Blue. “We have worked in the trenches throughout all market cycles, and we are thrilled to share our expertise in these new ways.”

For additional market insights and analysis, Optimal Blue clients are encouraged to attend the inaugural Optimal Blue Summit, which will take place February 3–5 at the Marriott Marquis San Diego Marina. Additional details and registration information for the Summit are available on the Optimal Blue Summit 2025 webpage at: https://www2.optimalblue.com/optimal-blue-summit/.

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.

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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.

To view the original story, visit: https://www.send2press.com/wire/optimal-blue-expands-expertise-market-leadership-with-launch-of-two-in-house-podcasts/

Copr. © 2024 Send2Press® Newswire, Calif., USA. -- REF: S2P STORY ID: S2P121218 NOREL-3B

 

Pavaso’s Vice President of Partner Strategies and Government Affairs Elected to Co-Chair MISMO Workgroup

Nancy G. Pratt

PLANO, Texas, Feb. 25, 2016 (SEND2PRESS NEWSWIRE) -- Nancy G. Pratt, vice president of Partner Strategies & Government Affairs at real estate technology company Pavaso, was elected to serve as co-chair of the Mortgage Industry Standards Maintenance Organization (MISMO) eMortgage Workgroup at the organization's Winter Summit in January. The eMortgage Workgroup develops voluntary technical standards and business and technical guidance for the advancement of electronic mortgages and paperless technology in the mortgage industry and also provides general education about the legal framework for the use of eMortgages and related standards.

"I'm elated to serve as part of the MISMO leadership. I've been active with MISMO for quite some time, so when the opportunity to co-chair a group that aligns so well with my endeavor to implement widespread eClosings, I jumped at the chance," Pratt said.

Current projects for the eMortgage Workgroup include an Implementation Guide for SMART Docs(R), a report on warehouse lender interests and concerns with eNotes, and an eMortgage Glossary.

"We have high expectations of everything that we can accomplish with this group and have strict objectives set to ensure that we achieve everything we set forth at the Winter Summit," Pratt added.

Pratt has been in the mortgage/title industry for over 32 years and has over 12 years of experience specifically in the eMortgage/eClosing space. Highlights of her career include industry milestones of performing the first complete eMortgage with lenders and conducting the first ever FHA and VA eClosings.

She has been invited to speak at various Industry Conventions as an eClosing/eMortgage subject expert and is a member of the ALTA Government Affairs, Public Relations, State Regulatory Action and Technology Committee. Pratt is also a member of the MBA MISMO Residential Technology Committee. She is a member of PRIA, MBA, MISMO, ESRA, RESPRO, National eNotarization Board and served on the eMortgage FNMA Innovation Team.

At Pavaso, Pratt manages the firm's strategic partnerships and is responsible in maintaining relationships at the federal and state level, as well as understanding key regulatory issues and laws that pertain to the operations of Pavaso.

About Pavaso:

Pavaso is redefining real estate for the real world by connecting everyone in the real estate lifecycle through powerfully simple innovation. For more information on how our platform and solutions can help you meet TILA-RESPA compliance, digitally transform your organization, and dramatically enhance the consumer experience, call 866-288-7051 or visit http://www.pavaso.com/.

*PHOTO for media: Send2Press.com/mediaboom/16-0225-Nancy-Pratt-300dpi.jpg

*Photo Caption: Nancy Pratt to Co-Chair MISMO Workgroup.

Twitter: @Pavasotweets

To view the original version on Send2Press Newswire, visit: https://www.send2press.com/newswire/pavaso-s-vice-president-of-partner-strategies-and-government-affairs-elected-to-co-chair-mismo-workgroup-2016-0225-02.shtml.

NEWS SOURCE Pavaso, Inc. :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by and Copr. © 2016 Send2Press® Newswire, a service of Neotrope®.