Mortgage technology technology Optimal Blue on Tuesday announced a series of new products and innovations at its inaugural Optimal Blue Summit user conference in San Diego.
The company first announced the launch of a new artificial intelligence-powered assistant. The new product, dubbed Ask Obi, will primarily benefit mortgage executives by offering insights and data drawn directly from Optimal Blue’s products and services. In its announcement, Optimal Blue highlighted the platform’s simple user interface and its ability to offer valuable insights at a moment’s notice.
“Our clients operate in a time when speed and accuracy matters, so having to wait for
reports to be generated — only to then spend more time poring over those reports to get to
the insights needed to make decisions — doesn’t make sense,” Optimal Blue CEO Joe Tyrrell said.
“Through the power of generative AI, users can have an interactive conversation to better understand the data that drives their business,” said Erin Wester, Optimal Blue’s chief product officer. “In contrast to other tools that may require filters and manual selections, Ask Obi is designed for ease of use and conversational interactions, while conveniently building off a user’s previous inquiries and suggesting preloaded questions.”
Ask Obi is set to be available for beta testing later this month, the company said.
The new AI tool is not the only product Optimal Blue unveiled Tuesday. Six more products followed: Originator Assistant, Rules Optimizer, Ratesheet Tool, Confirm Assistant, Mortgage Rate Futures and the Solution Center. Each of these offerings build off Optimal Blue’s existing product pricing engine (PPE).
Originator Assistant is designed to help loan officers compete by locating better pricing options. Following that, Rule Optimizer lets lenders create one rule that applies to multiple investors simultaneously, with tracking and scheduling capabilities. The Ratesheet Tool automatically generates rate sheets based on origination and secondary pricing models.
Confirm Assistant helps users process trade confirmation files while reducing the risk of manual errors, according to the company. Mortgage Rate Futures is a forward-thinking tool that allows originators to hedge risks based on accurate mortgage rates. And the Solution Center is a new marketplace where lenders, investors and vendors can sell mortgage offerings under one roof.
