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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 6 February 2024 M T E C H app for Android in addition to enhance- ments to the company's mobile offering for iOS. "Loan officers no longer sit at their desks all day, so Optimal Blue made it a priority to put 'pricing in their pocket' with full product and search capabilities from the convenience of a mobile device," said Kevin Foley, Director of Product Manage- ment of Optimal Blue. "With just a few taps, a loan officer can identify the best product, rate, and price for their borrower without the constraint of being in an office. This helps them operate more efficiently and competitively, while also delivering a better experience to prospective homebuy- ers. Plus, it's a truly native mobile app ex- perience, built specifically for the mobile devices loan officers are using." By giving loan officers the flexibility to access scenario pricing from any loca- tion, the Optimal Blue PPE (OB) Mobile app assists with timely and productive borrower conversations. OB Mobile allows users to price scenarios and save favorites to a dashboard for quick access. With a single tap, these scenarios can then be refreshed to show the best prod- uct, rate, and price, as well as any interest rate movement on a given day. The app displays the full array of pricing inputs and granularity currently available on the web version of the Optimal Blue PPE, including custom fields. In addition to an all-new app for Android, the app for iOS now includes pricing analysis from the Optimal Blue Mortgage Market Indices (OBMMI). Calculated from actual locked rates with consumers across approximately 42% of all mortgage transactions nationwide, the OBMMI includes multiple mortgage pricing indices developed around the most popular mortgage products and specific borrower attributes. The inclusion of this market data adds new value to a broader range of users. Any loan officer or person, re- gardless of whether they are an Optimal Blue client, can access OBMMI pricing analysis via the app, with PPE functional- ity reserved for client login. "As the public continues paying close attention to rate movement in 2024, we're pleased to make our interactive OBMMI pricing analysis available in a native iOS app anyone can download," said Foley. "OBMMI access will be added to the Android app later this year." NCONTRACTS ANNOUNCES AI-POWERED CONTRACT MANAGEMENT TOOL FOR FINANCIAL INSTITUTIONS N contracts has launched its new AI-powered Ntelligent Con- tracts Assistant module within Nvendor, reducing hours of arduous contract reviews to just minutes. The Ntelligent Contracts Assistant harnesses artificial intelligence trained by Ncontracts' legal and contract man- agement experts to quickly extract key information from third-party vendor contracts and agreements, making it possible for financial institutions to: » Score contracts for risk and adherence to regulatory requirements » Generate summaries of key contract terms » Automatically create alerts for key dates » Search contracts for key terms and provisions (including renewal dates and price increases) "The new interagency third-party risk management guidance mentions contracts 109 times," said Michael Berman, Founder and CEO of Ncontracts. "The Ntelligent Contracts Assistant helps financial insti- tutions meet those requirements quickly and more accurately while maximizing the value of their contracts as risk controls." Unlike black-box algorithms, the Ntelligent Contract Assistant is built with clear guardrails that can be tested and tracked for transparent results. The customer data remains private and seg- regated from others. It is used by the AI only to answer financial institution client questions, never to train the algorithm. "When most people think of AI, they think of cutting and pasting a contract into "Loan officers no longer sit at their desks all day, so Optimal Blue made it a priority to put 'pricing in their pocket' with full product and search capabilities from the convenience of a mobile device." —Kevin Foley, Director of Product Management, Optimal Blue