Certification with All Three Optimal Blue
Pillars Enhances Broker Productivity and Borrower
Experience
IRVINE,
Calif., Nov. 9, 2023 /PRNewswire/ -- Cloudvirga, a
leading provider of digital mortgage point-of-sale platforms,
announced today that it has completed final certification for full
API integration with the Optimal Blue product, pricing and
eligibility (PPE) engine and digital mortgage marketplace.
Cloudvirga's existing integration with Optimal Blue already
included loan pricing and lock set services, which are two of
Optimal Blue's three pillars. The final certification, post-lock
activities, is the third pillar.
The full API integration allows Cloudvirga users to access
Optimal Blue services and data without leaving the Cloudvirga
platform. Using the new post-lock functionality, brokers can now
submit a new lock request or update, extend or revise a lock,
including changing to a different loan program or to a different
rate or price structure within the same rate sheet. The API
integration is offered primarily through the Cloudvirga Wholesale
Third-Party Origination (TPO) Platform, but it is also available to
retail lenders using the Cloudvirga POS platform.
"This new integration is a real differentiator for brokers,
giving them greater control of pricing discovery, rate lock and
post-rate lock activities," said Cloudvirga Chief Executive Officer
Maria Moskver. "This full
integration with Optimal Blue further enhances Cloudvirga's ability
to improve and streamline originations for brokers and ensures that
borrowers have an excellent experience in the process."
"Optimal Blue's marketplace facilitates the most comprehensive
set of functions in the industry, and we operate with a model of
open integration and interoperability with other platforms," said
Clint Revels, Director of
Integration Services, Optimal Blue. "We are proud to expand our
partnership with Cloudvirga to offer comprehensive functionality
that gives brokers access to pricing through Optimal Blue, from
initial search and every milestone through loan funding. Post-lock
functions in Cloudvirga will bring substantial efficiencies to the
loan origination process."
For Cloudvirga clients that are currently using the Optimal Blue
pricing and lock set services, accessing the post-lock activity is
a simple "turn it on" function.
Initial integration with Optimal Blue occurred in conjunction
with the launch of the Cloudvirga TPO Platform, which was built in
collaboration with mortgage professionals and brokers to provide a
custom-built solution for their needs and operations. The TPO
platform offers 24/7 borrower access to a broker-branded portal
with a full suite of functionality for a seamless borrower
experience. It allows brokers to make real-time updates and changes
with easier preparation, delivery, and e-signing of lender
disclosures with automated compliance.
About Optimal Blue
Optimal Blue is the market leader
in mortgage secondary marketing technology. The company facilitates
transactions among mortgage market participants through its
Marketplace Platform, actionable data, and technology vendor
connections. The platform supports a range of functions for
originators and investors to automate and optimize core processes
related to product, pricing, and eligibility, hedge analytics, MSR
valuation, loan trading, social media compliance, and counterparty
oversight. The company's premier product, pricing and eligibility
engine – the Optimal Blue PPE – is used by 64% of the top 500
mortgage lenders in the U.S. For more information on Optimal Blue's
end-to-end secondary marketing automation,
visit www.OptimalBlue.com.
About Cloudvirga
Cloudvirga is a leading provider of
digital mortgage point-of-sale platforms. With a focus on
streamlining the loan origination process, Cloudvirga solutions are
designed to enhance efficiency and accuracy in the mortgage
industry. The company's commitment to continuous improvement and
innovation has positioned it as a trusted partner for mortgage
lenders and brokers across the nation. Cloudvirga is a subsidiary
of Stewart Information Services Corporation (NYSE:STC), a
customer-focused, global title insurance and real estate services
company. For more information, visit www.cloudvirga.com
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SOURCE Cloudvirga