Rick Allen Promoted To Optimal Blue COO

Rick Allen has been named Chief Operating Officer at Optimal Blue, the company announced in a press release.

In his new position, he will focus on operational oversight across the company and work to enhance efficiencies and execution.

“Our clients have long relied on our technology and data to operate profitably and efficiently, and our ability to serve them has always come from our own ability to operate with agility,” said Allen. 

“It’s a privilege to step into this role and assume executive oversight of Optimal Blue’s operations so we can continue delivering the highest quality products and services to our customers and partners.”

Allen was promoted from his position as Chief Administrative Officer. He brings nearly four decades of housing industry experience to the role. He has been with the company since 2017 when he joined as VP of Business Strategy.

His other experience includes client services and product management at Mortgagebot and VP of mortgage lending at what is now TD Bank, as well as leadership roles outside of the industry.

“Optimal Blue is laser-focused on the most meaningful initiatives that deliver the best value and ROI to clients – especially in dynamic market conditions,” said Scott Smith, interim CEO of Optimal Blue and president of Andromeda, Constellation Software Inc.

“Rick has been a respected leader at Optimal Blue for many years, and his promotion to COO allows him to lend even more of his expertise across all operational areas and product solutions in ways that underscore our commitment to our customers. This is a true ‘win’ for our business and clients alike.”

Texas-based Optimal Blue is a leader in mortgage secondary market technology. It operates a platform that allows originators and investors to automate and optimize core processes related to product, pricing, eligibility, hedge analytics, MSR valuation, loan trading, social media compliance, and counterparty oversight.

The company recently onboarded a new Chief Marketing Officer as well.

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