With rate locks up, Optimal Blue launches automated refinance tool

Cash-out refi lock volume fell 10% month over month while rate-and-term refi locks dropped 44%. But compared to May 2024, cash-out volume rose 13% and rate-and-term refis were up nearly 21%.

“Instead of expecting originators to review all of their past clients to find refinance opportunities, we have given them a solution that automatically identifies an opportunity, provides pricing options and generates a presentation to the borrower,” Mike Vough, head of corporate strategy at Optimal Blue, said a statement. 

The new product, called Capture for Originators, is available to users of Optimal Blue’s product pricing engine (PPE) and was developed in partnership with Uplist, a software-as-a-service (Saas) platform serving the real estate industry. It factors in lender fees…