partner announcements
Equity Prime Mortgage Partners with OptiFunder
Equity Prime Mortgage Selects OptiFunder to Optimize and Automate Loan Funding through Post-Closing.
OptiFunder and LendingQB® Announce Technology Integration Partnership
MeridianLink’s ® LendingQB partners with OptiFunder to optimize warehouse funding and reduce net origination costs.
Ashley Leistler
Nov 27, 2020
Two of The Mortgage Collaborative's (TMC) preferred partners have teamed up to create a powerful integration that significantly benefits the 200+ Lender Members of TMC.
OptiFunder’s WMS, the industry's first Warehouse Management System built for
mortgage originators, is now available via the robust Open API integration
in LendingQB—a SaaS end-to-end digital mortgage loan origination system (LOS).
This new technology partnership revolutionizes the way TMC Members fund loans byproviding optimized real-time decisions on where to fund each loan to achieve the lowest possible cost of warehouse capital. OptiFunder's patented decision algorithm has proven to decrease mortgage originators' warehouse financing costs by upwards of 10%. The seamless integration automates funding by streamlining the workflow for funding departments, automating loan delivery to warehouse lenders, and returning critical information such as wire confirmations and advance reconciliation reports back to the LOS.
“With today’s record loan volumes, a lender’s need for a fully integrated Warehouse Management System has never been greater,” said Brian Abbott, chief operating officer at OptiFunder. “Our partnership with LendingQB and the secure, seamless integration of OptiFunder’s flagship WMS empowers our joint customers with a complete funding automation solution. By shrinking the gap between loan funding and settlement and optimizing the decisions made during this phase, lenders now have a powerful tool to grow their business and improve their bottom line.”
When it comes time to sell the loan off the warehouse line, OptiFunder also automates the manual tasks associated with handling Purchase Advice from various investors. The successful integration between these two best-in-class technology solutions provides a unique opportunity for TMC Members to improve operational efficiency and reduce net origination costs.
"We're equally excited to bring together two technology-savvy and highly versatile LOS products," said Douglas Glagola, VP of strategic development. "Over the coming months (and years), the integration between these two products will only gain better traction and expand the customer experience even further—offering better ingenuity, faster processing, and a more streamlined production."
About MeridianLink
MeridianLink, Inc., developer of the industry's leading multi-channel account
opening and loan origination platform, has been a trusted provider of financial enterprise business solutions since 1998. Winner of Octane's 2020 "Best Technology Company Leadership Team" MeridianLink connects over 1,400 clients and their customers to better financial experiences — through proven efficiencies, solutions, and technology. Further information can be found at www.meridianlink.com.