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11 July 2024 M T E C H Rocket Mortgage has transformed the journey by creating automation-friendly workflows that enable plug-and-play AI solutions to further optimize processes. Rocket Mortgage is utilizing the Instabase platform to help automate the extraction of critical data elements to expedite the lending process. This tech- nology, and several others pioneered by Rocket, has resulted in closing loans 2.5 times faster than the industry average. "Rocket Mortgage is committed to transforming every experience with AI, making the historically tedious process of applying for a mortgage easier than ever," said Andrew Colunga, VP of Digital Product Management for Rocket Mortgage. "With Instabase and several other proprietary AI and automation processes integrated into our technology ecosystem, we have shaved several days off the amount of time it takes our clients to close on a home purchase, decreasing turn times by 25% and getting them the keys to their new home faster." Instabase is one of Rocket Mort- gage's many partners who, along with its internally built systems, have enabled team members, partners, and clients to experience the power of a homebuying process fueled by AI. OPTIMAL BLUE LAUNCHES COMPETITIVE DATA LICENSE TO HELP LENDERS OPTIMIZE MARGINS WITH COMPETITIVE LOAN PRICING DATA O ptimal Blue has announced the release of Competitive Data License, a collection of key na- tional mortgage pricing data that enables lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions. Competitive Data License draws upon direct-source loan data from the Optimal Blue PPE, which is used to price and lock over 35% of loans in the United States. The data solution provides lend- ers with extensive insight into markups, loan-level price adjustments (LLPAs), servicing-released premiums (SRP), con- cessions, loan officer compensation, base price, and PAR rate. The offering's data set allows for granular benchmarking at various levels—from organization-wide to individual loan officers—enabling lenders to identify areas for improve- ment, replicate successful strategies, and maintain a competitive edge. "We often hear from our lenders how difficult it is to make informed pricing decisions given the lack of visibility into detailed market data," said Brennan O'Connell, Director of Data Solutions at Optimal Blue. "Competitive Data License ensures that our PPE customers have full transparency into the granular pricing components needed for a full price trace from buy-side to sell-side—giving Optimal Blue clients a strategic advantage in bench- marking their entire pricing strategy." Competitive Data License highlights which locks were completed by the lender using the data set while also offering additional details, such as which loan officer locked the loan. Lenders have the flexibility to feed the raw data from Competitive Data License into their business intelligence platforms to assess their performance relative to competitors and adjust pricing strategies—such as repricing or hedging optimization—based on market shifts. Competitive Data License is available exclusively to Optimal Blue PPE users, and those currently using Market Data License for competitive analytics will be upgraded automatically to the more robust Compet- itive Data License data set. Market Data License will remain available to lenders not using the Optimal Blue PPE. INTRODUCING The Five Star Institute's premier trade publications, DS News and MReport, have joined forces to become MortgagePoint. This new publication brings you the same exclusive news, features, interviews, and commentary you've come to expect from Five Star—now taken to the next level and all in one place. MortgagePoint is your one-stop shop for coverage of the full spectrum of mort- gage, from originations to default. Scan the QR code to sign up and learn more. THE INDUSTRY'S MOST VALUED PUBLICATIONS JOINING FORCES Magazine