mortgage tech & ai

Independent Mortgage Originators Embrace Warehouse Management Technology to Improve Profitability, Operations

Founded in 2019 to help improve the predictability of warehouse funding expense, OptiFunder offers an AI and Machine Learning-powered decision engine for warehouse management and allocations.

The OptiFunderSM Warehouse Management System is experiencing record growth—expanding platform features, integration partners, employee count and its customer base by 300% year over year. Now an estimated one in eight loans funded by IMB's funds on the OptiFunder platform.

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:

  • Rapid industry adoption, including 35 clients among Top 100 Lenders
  • Integrations with every major LOS, Fannie Mae Connect™ Whole Loan Purchase Advice Seller API and Freddie Mac's Cash Settlement Purchase Statement API
  • Launch of shipping automation and collateral tracking that reduce dwell time
  • Full Purchase Advice automation (retrieval, reconciliation and write back to the LOS)
  • Wire Data Check to continuously monitor wire instructions to flag anomalies, minimizing manual review and verification
  • Industry accolades including HW Tech 100 Mortgage award the last 4 consecutive years and Progress In Lending's Innovations award in 2023.

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."

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