Wipro Gallagher Solutions announced its NetOxygen loan origination system has added an integration with mortgage technology developer Optimal Blue's product and pricing engine.
The integration allows users to access Optimal Blue's product eligibility and pricing engine to compare mortgage rate and loan pricing scenarios for approximately 200 investors from within the NetOxygen origination platform, the Plano, Texas-based PPE vendor said.
NetOxygen is an end-to-end loan origination platform that streamlines loan processing and fulfillment workflow, for tasks including managing leads and taking applications to document preparation, funding, post-closing and interim servicing.
"Accuracy, automation and transparency are three essential ingredients needed to sustain a profitable enterprise in today's volatile market," said Larry Huff, co-CEO of Optimal Blue, in a Monday press release. "By streamlining the cumbersome product, pricing and secondary marketing workflow process, this interface provides our common customers with an addition to their survival toolkit."
As part of the integration, Optimal Blue's secondary marketing platform allows users to hedge their pipelines and determine the best way to allocate their loans. All of this is completed without extorting data to a file and reimporting this information to a hedge system.
"This system integration not only improves efficiencies, but it also delivers unfettered access to accurate product and pricing data which ultimately helps our customers make more profitable decisions in a trying market," said Narayan Bharadwaj, general manager and business head at Franklin, Tenn.-based Wipro Gallagher Solutions.
At the end of last year, Optimal Blue acquired its largest PPE competitor in the mortgage industry, LoanSifter, for an undisclosed price.