Black Knight Inc. has launched a new lead-quoting application programming interface (API) that connects lead-aggregation vendors to the array of product and pricing information in the Optimal Blue PPE product, pricing and eligibility engine.
The API enables lead-quoting vendors to display real-time rates on behalf of lenders using the Optimal Blue PPE. It also seamlessly connects to hundreds of investors and thousands of products for any mortgage financing scenario, and then makes the information available to borrowers on vendors’ lead-generation or rate-table advertising websites.
“The Optimal Blue PPE offers a single source of pricing from the industry’s largest network of investors, and now lead-quoting vendors can extend this depth and accuracy to borrowers,” says Scott Happ, president of Optimal Blue, a division of Black Knight. “By adding this API to their toolbox, vendors have the opportunity to deliver a better experience to their lender partners who are already using the Optimal Blue PPE, as well as their consumers who expect easy access to accurate and transparent product and pricing information.”
The Optimal Blue PPE is used to price and lock 40% of U.S. mortgages – supporting $2.1 trillion of rate locks and processing more than 500 million rate searches annually.
“With the ability to connect to any lead-generation or rate-table advertising site, this API technology is a game-changer for vendors and lenders working to meet the digital demands of today’s consumers,” Happ adds. “It can also help lenders increase efficiency by leveraging a single API to maintain integrations with multiple lead aggregators.”