Cloudvirga Completes Last Phase of Certification with Optimal Blue

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Cloudvirga Completes Final Certification for Full API Integration with Optimal Blue, Enhancing Broker Productivity and Borrower Experience

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• The full API integration with Optimal Blue's product, pricing, and eligibility engine allows Cloudvirga users to access services and data without leaving the platform, giving brokers greater control of pricing discovery, rate lock, and post-rate lock activities. This integration further enhances Cloudvirga's ability to improve and streamline originations for brokers and ensures that borrowers have an excellent experience in the process.

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Certification with All Three Optimal Blue Pillars Enhances Broker Productivity and Borrower Experience

IRVINE, Calif., Nov. 9, 2023 /PRNewswire/ -- Cloudvirga, a leading provider of digital mortgage point-of-sale platforms, announced today that it has completed final certification for full API integration with the Optimal Blue product, pricing and eligibility (PPE) engine and digital mortgage marketplace. Cloudvirga's existing integration with Optimal Blue already included loan pricing and lock set services, which are two of Optimal Blue's three pillars. The final certification, post-lock activities, is the third pillar.

The full API integration allows Cloudvirga users to access Optimal Blue services and data without leaving the Cloudvirga platform. Using the new post-lock functionality, brokers can now submit a new lock request or update, extend or revise a lock, including changing to a different loan program or to a different rate or price structure within the same rate sheet. The API integration is offered primarily through the Cloudvirga Wholesale Third-Party Origination (TPO) Platform, but it is also available to retail lenders using the Cloudvirga POS platform.

"This new integration is a real differentiator for brokers, giving them greater control of pricing discovery, rate lock and post-rate lock activities," said Cloudvirga Chief Executive Officer Maria Moskver. "This full integration with Optimal Blue further enhances Cloudvirga's ability to improve and streamline originations for brokers and ensures that borrowers have an excellent experience in the process."

"Optimal Blue's marketplace facilitates the most comprehensive set of functions in the industry, and we operate with a model of open integration and interoperability with other platforms," said Clint Revels, Director of Integration Services, Optimal Blue. "We are proud to expand our partnership with Cloudvirga to offer comprehensive functionality that gives brokers access to pricing through Optimal Blue, from initial search and every milestone through loan funding. Post-lock functions in Cloudvirga will bring substantial efficiencies to the loan origination process."

For Cloudvirga clients that are currently using the Optimal Blue pricing and lock set services, accessing the post-lock activity is a simple "turn it on" function.

Initial integration with Optimal Blue occurred in conjunction with the launch of the Cloudvirga TPO Platform, which was built in collaboration with mortgage professionals and brokers to provide a custom-built solution for their needs and operations. The TPO platform offers 24/7 borrower access to a broker-branded portal with a full suite of functionality for a seamless borrower experience. It allows brokers to make real-time updates and changes with easier preparation, delivery, and e-signing of lender disclosures with automated compliance. 

About Optimal Blue
Optimal Blue is the market leader in mortgage secondary marketing technology. The company facilitates transactions among mortgage market participants through its Marketplace Platform, actionable data, and technology vendor connections. The platform supports a range of functions for originators and investors to automate and optimize core processes related to product, pricing, and eligibility, hedge analytics, MSR valuation, loan trading, social media compliance, and counterparty oversight. The company's premier product, pricing and eligibility engine – the Optimal Blue PPE – is used by 64% of the top 500 mortgage lenders in the U.S. For more information on Optimal Blue's end-to-end secondary marketing automation, visit www.OptimalBlue.com. 

About Cloudvirga
Cloudvirga is a leading provider of digital mortgage point-of-sale platforms. With a focus on streamlining the loan origination process, Cloudvirga solutions are designed to enhance efficiency and accuracy in the mortgage industry. The company's commitment to continuous improvement and innovation has positioned it as a trusted partner for mortgage lenders and brokers across the nation. Cloudvirga is a subsidiary of Stewart Information Services Corporation (NYSE:STC), a customer-focused, global title insurance and real estate services company. For more information, visit www.cloudvirga.com

View original content:https://www.prnewswire.com/news-releases/cloudvirga-completes-last-phase-of-certification-with-optimal-blue-301983402.html

SOURCE Cloudvirga

FAQ

What is the significance of Cloudvirga's certification with Optimal Blue?

The certification allows Cloudvirga users to access Optimal Blue services and data without leaving the platform, enhancing broker productivity and borrower experience.

What functionality does the full API integration with Optimal Blue provide?

The integration provides brokers with greater control of pricing discovery, rate lock, and post-rate lock activities, as well as access to comprehensive functionality from initial search through loan funding.

How does the post-lock functionality benefit brokers and borrowers?

The post-lock functionality brings substantial efficiencies to the loan origination process, ensuring that brokers have greater control and borrowers have an excellent experience.

What is the Cloudvirga TPO Platform?

The TPO platform offers 24/7 borrower access to a broker-branded portal with a full suite of functionality for a seamless borrower experience, allowing brokers to make real-time updates and changes with easier preparation, delivery, and e-signing of lender disclosures with automated compliance.