In the News/Press Releases

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OptiFunder closes on capital raise and expands its Executive Team

Icon Nov. 12, 2019

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ST. LOUIS - Sept. 18, 2019 - PRLog OptiFunder, the residential mortgage industry's first Warehouse Management System for mortgage originators

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New St. Louis fintech startup closes $1M seed financing, adds exec

Icon Nov. 13, 2019

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The startup's technology is designed to provide an algorithm to optimize where non-bank mortgage originators fund their loans.

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McFadden Group Launches Revolutionary Platform to Automate...

Icon Nov. 13, 2019

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ST. LOUIS - May 29, 2019 - PRLog -- McFadden Group, the go-to strategic advisory firm in the mortgage industry, has launched OptiFunder, a new

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OptiFunder named HousingWire Tech100 Award Winner

Icon Apr. 07, 2020

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FOR IMMEDIATE RELEASE 3-14-2020 OptiFunder named HousingWire Tech100 Award recipient ST. LOUIS, MO – St. Louis based FinTech, OptiFunder today announced it has received the distinguished HousingWire Tech100 Award recognizing the most innovative technology companies in the U.S. housing economy. Independent mortgage bankers are the primary source of mortgage credit for the most critical sectors of the housing market – first-time homebuyers, working families and minority households. As many large financial institutions have backed away, independent mortgage bankers’ share of total residential loan originations continues to rise. Independent mortgage bankers rely on warehouse lines of credit and other short-term capital to finance their mortgages. OptiFunder’s Warehouse Management System enhances the critical relationship between Independent originators and warehouse lenders via the use of machine learning and AI. Its patent-pending optimization algorithm has proven to decrease mortgage originators’ cost of financing by upwards of 10% while increasing volumes sent to warehouse lenders. “This year’s Tech100 Mortgage award winners blew past innovation, moving beyond innovation to transformation,” said HousingWire CEO, Clayton Collins. The honorees represent truly the most impactful and innovative companies in housing today. Not only do these companies empower their clients and users, they are creating new ways to approach the housing process, improving efficiencies, cutting costs and creating a new experience for all parties involved.” “Having experienced the challenges first hand, we set out several years ago to revolutionize the way mortgage lenders fund loans,” OptiFunder Founder and CEO, Mike McFadden said. “So it is particularly rewarding to be named a HousingWire’s Tech100 Award Winner. We are humbled to see the mortgage industry recognizing our platform’s capabilities in such a short period of time.” For more information on OptiFunder and its product offerings, visit www.optifunder.com About OptiFunder OptiFunder is a Fully-Integrated and Automated Warehouse Management System for mortgage originators. OptiFunder developed a patent-pending optimization algorithm to optimize where originators fund each and every loan to achieve the best financial performance. Additionally, OptiFunder automates the submission of data and documents to the warehouse lender, providing a fully-integrated solution for the mortgage funding process. About HousingWire HousingWire is the most influential source of news and information for the U.S. mortgage and housing markets. Built on a foundation of independent and original journalism, HousingWire reaches over 60,000 newsletter subscribers daily and over 7.5 million unique visitors each year. Our audience of mortgage, real estate, financial services and fintech professionals rely on us to Move Markets Forward. Visit www.housingwire.com or www.solutions.housingwire.com to learn more.

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Delmar Mortgage Selects OptiFunder Warehouse Management System

Icon Jun. 30, 2020

Icon Brian Abbott

Delmar Mortgage selects OptiFunder Warehouse Management System St. Louis, MO – December 9, 2019 - OptiFunder, the market leader in warehouse management solutions for independent mortgage bankers, has announced that Delmar Mortgage is the next to adopt its platform to achieve optimal utilization of warehouse funding. OptiFunder revolutionizes the way originators fund loans by providing real time decisions on where to fund every loan to achieve maximum interest spread and connects all interested parties in the warehouse process. “In today’s competitive market, we know how important it is for lenders to bring real solutions to streamline their operations and increase profit margins,” OptiFunder COO Brian Abbott said. “We’re delighted to be working with Delmar Mortgage, whose techforward approach to leveraging our platform gives them a leg up on the competition and puts them on the leading edge of back office digital mortgage transformation. “Automating our funding process means we can turn more attention to delivering the best experience for our borrowers,” said Chris Prost, Delmar Mortgage’s Chief Financial Officer. “We are excited to be partnered with OptiFunder to bring data science and automation into our warehouse management.” For more information on OptiFunder and its product offerings, visit www.optifunder.com About OptiFunder Corp. OptiFunder is a Fully-Integrated and Automated Warehouse Management System for mortgage originators. OptiFunder developed a patent-pending optimization algorithm to optimize where originators fund each and every loan to achieve the best financial performance. Additionally, OptiFunder automat the submission of data and documents to the warehouse lender, providing a fully-integrated solution for the mortgage funding process.

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OptiFunder welcomes Nova Home Loans

Icon Jun. 30, 2020

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Nova Home Loans selects OptiFunder Warehouse Management System By: OptiFunder Corp. ST. LOUIS - June 30, 2020 - PRLog -- Nova Home Loans, a large independent residential mortgage lender, has selected OptiFunder's Warehouse Management System (WMS) to leverage the industry's first fully-automated funding solution. With OptiFunder, Nova Home Loans will leverage a comprehensive platform offering multiple toolsets including the OptiFunder Select decision engine to ensure the optimal warehouse placement for every loan and the OptiFunder Connect automation suite enabling single-click funding with all of its warehouse lenders through a single integration. "As Nova looks at another year of record growth, we want to have technology in place that creates new efficiencies and reduces expense at the same time," said Oystein Konsmo, Chief Financial Officer at Nova. "OptiFunder was a perfect fit because it allows us to scale for our planned growth, reduce expense, maximize warehouse spread, and streamline operational process. With integrated reporting for all our important warehouse relationships in a single location, we now have a clear view of all key metrics, such as ROI, capacity utilization, aging loans and upcoming curtailments in order to proactively manage our business." Konsmo added, "OptiFunder has enhanced our ability to manage loans beyond closing in the LOS. We now have full visibility through loan sale." OptiFunder revolutionizes the way independent originators fund loans by providing real time optimized decisions on where to fund each and every loan to achieve the lowest cost of capital and completely automate the funding process. "Today, mortgage lenders are tasked with finding the right technology solution that fuels their business and enhances the bottom line. Much of the innovation in our industry as of late has been focused on pre-closing. Our Warehouse Management System now allows lenders to achieve optimized results for post-closing functions. We are leveraging the vast information in the Loan Origination System to ensure our clients are achieving the highest level of profitability of loans post-closing," said Brian Abbott, Chief Operating Officer at OptiFunder. "We are thrilled to welcome Nova Home Loans to the growing OptiFunder family – empowering their team with a funding automation solution to reach new levels of growth and profitability." About OptiFunder Corp. OptiFunder is a Fully-Integrated and Automated Warehouse Management System for mortgage originators. OptiFunder developed a patent-pending optimization algorithm to optimize where originators fund each and every loan to achieve the lowest cost of capital. Additionally, OptiFunder automates the submission of data and documents to warehouse lenders, providing a fully-integrated solution for the mortgage funding process. For more information on Nova Home Loans and its services, visit http://www.novahomeloans.com/ Media Contact OptiFunder Corp. Brian Abbott brian.abbott@optifunder.com

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