PRMI implements Optimal Blue.

Plano, Texas--based Optimal Blue announced that Salt Lake City-based Primary Residential Mortgage Inc. (PRMI) has successfully implemented Optimal Blue's product eligibility and pricing engine (PPE) technology.

Using this program through PRMI's customized interface, the Platinum Banking Engine (PBE), originators have the power to compare thousands of loan products in seconds, according to Dave Zitting, chief executive officer and president of PRMI.

"At PRMI, we strive to provide our branch partners with the best technology on the market, and are dedicated to providing the tools necessary to maintain a competitive advantage," explained Zitting. "The engine has greatly influenced how we do business."

Since going live in May 2007, PRMI has saved money and time while gaining productivity and increasing loan margins. PRMI no longer has to build rate sheets or fill them with content, thereby freeing PRMI to operate more efficiently.

With Optimal Blue, PRMI says it can run models more quickly and efficiently, which is a significant benefit to the private-labeling group. The system shows pricing, guidelines and investors, and then allows the loan officers to use an open-book, hybrid or closed-book model that enables the secondary marketing department to do best-efforts execution, according to Larry Huff, Optimal Blue's co-chief executive officer.

"PRMI has a unique business model that has enabled them to thrive in today's market," said Huff. "As PPE technology has gained momentum, we have been able to separate ourselves from the competition through our platform's ability to adapt to our customer's individual needs."