Independent Mortgage Originators Embrace Warehouse Management Technology to Improve Profitability, OperationsOne in every eight loans funded by IMB's now funds via the OptiFunder platform.
By: OptiFunder Founded in 2019 to help improve the predictability of warehouse funding expense, OptiFunder offers an AI and Machine Learning-powered decision engine for warehouse allocations. Supporting over 60 warehouse lenders, the decision engine considers myriad dynamic factors (such as rates, fees and capacity) in real-time to select the best facility for each loan to deliver optimal financial performance. The engine is rules-based to accommodate relationship factors and the strategic objectives of the mortgage lender. Since its launch, the multiple award-winning platform has expanded to include automation for funding through loan sale and also includes loan-level and aggregated warehouse expense reporting and analytics. Innovative independent lenders are gleaning many benefits from their OptiFunder integration. Mike Doncer, Vice President Secondary Operations for Benchmark Mortgage notes, "OptiFunder is proving to be a valuable partner for Benchmark Mortgage. We are utilizing our warehouse facilities more strategically and leverage the real-time reporting to analyze actual and projected expenses across our warehouse lines. The automation for funding and purchase advices has greatly improved our efficiency. The OptiFunder team has a genuine interest in listening to their clients' feedback and delivering dynamic enhancements to an already impressive platform." OptiFunder highlights include:
Warehouse Lenders also benefit from the platform which enables them to offer their customers a better user experience via full automation. Additionally, Warehouse Lenders appreciate that the platform is maintained by OptiFunder, and enables instantaneous terms updates and more complete and accurate funding submissions, improving process efficiency. Brian Abbott, OptiFunder COO notes, "It's gratifying to reduce expenses for mortgage originators while more closely integrating the marketplace for funding through loan sale. We're saving clients 15 minutes per Purchase Advice. Coupled with bulk funding and automated shipping, OptiFunder clients can eliminate hours of manual tasks and reduce dwell time, too." About OptiFunder: OptiFunderSM was founded in 2019 as an enterprise software platform to make the cost of short-term funding capital more predictable for mortgage bankers. With patented AI/ML decisioning, the system factors multiple dynamic datapoints and chooses the best warehouse facility for each loan to achieve optimal financial performance. It's expanded to a full-service platform we call the Warehouse Management System; it automates funding through loan sale to over 60 warehouse lenders and recently launched automated Wire Data Check to add a layer of protection against wire fraud. To learn more, visit: Optifunder.com | Request Demo | Media End
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