MainSource Bank Improves Pull-Through Rates with Optimal Blue’s
Enterprise Secondary Marketing Solution
MainSource Bank selected Optimal Blue’s Enterprise Secondary Marketing Solution. Optimal Blue was chosen by the bank because of its reputation, product features, and industry recommendations. The bank’s technology goals were to automate loan pricing and hedging, reduce risks, improve profitability and efficiency, and to obtain an enterprise eCommerce platform that would fully support its future growth.
The implementation of Optimal Blue was completed faster than anticipated. Dunevant said, “The implementation process for the entire Optimal Blue secondary marketing platform was fast and relatively easy. We were quite pleased.”
Management has realized many impressive gains including higher loan profits and mortgage division income with Optimal Blue. “Today, there is a long list of things that are better with Optimal Blue. Most importantly, our profits are up at least 20 basis points,” Dunevant observed. The division has achieved gains in spreads and margins, pricing and product eligibility accuracy, profits per loan and has realized a positive return on investment. Operational efficiencies have improved for hedging and commitments, pricing determination, MLO loan pricing and rate lock requests and changes, each combining to mitigate risks.
MLO processes that were manual and complex are now automated, integrated, and easy. “Our MLOs can now deal with the customer much more efficiently and professionally with Optimal Blue,” Dunevant observed. MLOs are proficient in determining accurate customer product eligibility and pricing using seamless LOS to Optimal Blue data integration to electronically determine product eligibility and pricing, including relevant loan-level pricing adjustments (LLPAs). The new process has reduced the time to establish product eligibility and pricing by 67 percent, or from 15 to only 5 minutes.
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District of Columbia