Refi Volume Saw A Boost In July

Refi Volume Saw A Boost In July

Refinance volumes got a boost in July as rates moderated to a palatable level for homeowners looking to save. Optimal Blue’s July 2024 Market Advantage mortgage data report showed refinance demand rising to its highest level since September 2022. Lower interest rates also led to increased purchase activity which, combined with the refi boom, resulted…

Guild, Optimal Blue Launch AI Assistants

Guild, Optimal Blue Launch AI Assistants

Guild Mortgage and Optimal Blue both announced new AI technology targeting different pain points for lenders, reflecting the different ways artificial intelligence.  Guild launched GuildGPT, an AI system built in-house and customized for Guild employees. The AI assistant is built into Guild’s knowledge database, allowing it to offer customized information about the company’s products and…

Joe Tyrrell Named Optimal Blue CEO

Joe Tyrrell Named Optimal Blue CEO

Former ICE Mortgage exec Joe Tyrrell has been named CEO of Optimal Blue. Tyrrell brings more than two decades of mortgage, finance, and technology experience to the position. He previously served as president of ICE Mortgage Technology and chief operating officer of Ellie Mae prior to its acquisition in 2020. His most recent position was…

Purchase Locks Jumped YOY In April

Purchase Locks Jumped YOY In April

Purchase mortgage lock counts rose year-over-year for the first since March 2022 in April, an encouraging sign in the tough homebuying environment. Optimal Blue’s April 2024 Originations Market Monitor report revealed that purchase locks were up 5% YOY last month, the first increase since the Central Bank hiked rates two years ago. Optimal Blue chalks…

Rick Allen Promoted To Optimal Blue COO

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…

Homebuyer Credit Scores Hit Multi-Year High

Homebuyer Credit Scores Hit Multi-Year High

Average homebuyer credit scores soared to their highest point since 2018 in March, according to Optimal Blue’s March 2024 Originations Market Report. The average score hit 737, an all-time high in Optimal Blue’s data, which dates back to January 2018. Scores for FHA borrowers also hit 6-year highs, clocking in at 677 in February and…

Marketing Pro Sara Holtz Joins Optimal Blue

Marketing Pro Sara Holtz Joins Optimal Blue

Marketing veteran Sara Holtz has joined Optimal Blue as its Chief Marketing Officer, the company announced in a press release. Holtz brings more than two decades of experience to the position, including ten years specifically impacting the mortgage industry. In her new role, she will spearhead marketing and communications strategies to advance Optimal Blue’s industry…

Purchase Locks Rose At The Start Of Spring Buying Season

Purchase Locks Rose At The Start Of Spring Buying Season

Mortgage purchase locks increased at the start of the spring homebuying season despite ongoing challenges, setting the stage for more activity. Rate lock volume increased by 5% from January to February despite rising rates, leading to a net rise in origination activity, according to Optimal Blue’s latest Originations Market Monitor report. Purchase activity drove the…

Rate Locks Set New Record Lows

Rate Locks Set New Record Lows

Rate lock volumes took a beating in December as buyers and sellers remained on the sidelines. Black Knight’s December Originations Monitor Report found that typical seasonal patterns, together with continuing inflationary pressures and elevated rates, resulted in record lows for locks of all kinds. “Using Black Knight’s McDash mortgage performance data to provide comparative history,…

Purchase-Locks Fell 22% In November

Purchase-Locks Fell 22% In November

Rate-lock volumes fell 21.5% in November despite 30-year rates dropping 48 bps over the course of the month, according to Optimal Blue’s Mortgage Market Indices from Black Knight. Rates are 3.3% higher YOY but have declined in recent weeks. But affordability struggle and continuing stock shortages have diminished buyer demand, pushing rate-locks down 39% in…

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