Optimal Blue’s Comergence Launches Social Media Compliance Solution

Turnkey service automates regulatory oversight, eliminates manual tasks and financial risks

Plano, TX. — Comergence, an Optimal Blue company and a trusted compliance solutions provider to the mortgage industry, announced today the launch of its newest compliance solution, Social Media Compliance. Powered by sophisticated regulatory intelligence capabilities and embedded with the specific policies and procedures of a licensed mortgage originator, the unique and leading-edge service addresses the growing need and seemingly insurmountable task of monitoring social and digital media communications within a regulatory framework.

“Social media is a powerful tool used more and more by today’s loan officers to source business. Yet, with numerous regulations today and even more expected in the future, the risk is high for unintentional social media mistakes that could pose significant financial risks for lenders,” stated Scott Happ, Chief Executive Officer of Optimal Blue. “We recognize that adherence to growing compliance demands will be challenging for lenders if social media compliance remains a manual, time-consuming effort coming at a great cost. By delivering this robust automation at an extremely affordable price, lenders discover an immediate ROI – regardless of whether they have five loan officers or hundreds.”

The Social Media Compliance system can evaluate social media activity across all loan officers and all venues in real time via automated scheduling. The platform also identifies potential violations, highlights usage trends, and provides 360-degree audit reports for a deeper violation review so lenders can communicate and remediate internally and externally – all within a single, turnkey compliance tool. The system provides enormous advantages for the hundreds of organizations that already rely upon other Comergence compliance solutions, including streamlined organizational and user set-up.

“Social media presents a large playing field and a new frontier for today’s lenders that is not going away anytime soon. Leveraging automation removes the heavy lifting and positions lenders to properly take full advantage of the opportunities through this great marketing asset,” said Greg Schroeder, Vice President of Comergence. “Everything lenders need to self-manage social media compliance is available in our solution, bringing efficiencies, simplicities, and real-time oversight with little effort.”

For more information on the social media compliance demands in the mortgage industry, Optimal Blue has developed a resource titled “The Importance of Developing a Social Media Compliance Policy”. The whitepaper can be accessed here.

Optimal Blue Expands Network by Acquiring Comergence, the Mortgage Industry’s Leading Third-party Oversight Platform

Building a More Trusted Marketplace

PLANO, TX – Optimal Blue, operator of the mortgage industry’s digital marketplace and provider of comprehensive secondary marketing solutions, announced today that it has acquired Comergence Compliance.

Comergence is the leading provider of third-party oversight solutions in the mortgage industry. Founded in 2008, Comergence provides an array of third-party originator (TPO), appraiser, and social media risk management solutions that verify third-party compliance in real-time, a capability unmatched in the industry. Comergence has been widely recognized by the industry for its innovations in due diligence automation and ongoing surveillance services.

We are thrilled to welcome Comergence to the Optimal Blue family and we are looking forward to extending their network management platform to our customers,” said Scott Happ, CEO of Optimal Blue. “Comergence solutions help build trust and confidence among marketplace participants by verifying third-party compliance in real-time, a capability unmatched in the industry.

We provide the best due diligence and ongoing surveillance services in the industry,” noted Greg Schroeder, President of Comergence. “We believe that by being part of Optimal Blue we can bring the benefits of our technology and expertise to an even larger segment of the mortgage marketplace.

Michael Stallings, Executive Vice President of Comergence said, “Recent Comergence innovations, including an analytics tool to help account executives identify new TPO opportunities and a breakthrough solution for social media risk monitoring, strongly complement Optimal Blue’s existing product offering.

Optimal Blue and Comergence are well-aligned around our principal mission of facilitating transactions between buyers and sellers of loans,” added Scott Happ. “We are very pleased that Greg, Michael, and the entire Comergence team will be joining Optimal Blue as we execute our shared growth plans.”

Optimal Blue operates the mortgage industry’s digital marketplace, connecting
lenders, investors and providers with integrated technology and value-added services.
Our digital marketplace is powered by an enterprise secondary marketing automation
platform and contains the industry’s largest library of loan programs and real-time loan
pricing data. The platform is surrounded by a workflow automation system enabling
lenders to price, lock and sell mortgage loans while managing risk and maximizing
efficiency. Through marketplace participation, investors and value-added providers
gain access to the largest network of lenders and brokers in the industry while
leveraging tools to automate data exchange, improve decision making and source
new business. Together these lenders, investors and providers form a unique, multi-sided
marketplace touching one of every four mortgage loans closed nationally each year.

For more information visit OptimalBlue.com


Comergence® Names Don Scales National Business Development Manager

Comergence, a leading provider of compliance and business solutions for the real estate industry, has recently added Don Scales to the business development team. Mr. Scales brings over 11 years of mortgage industry experience and 25 years as a sales professional. He will be responsible for the education and acquisition of mortgage lenders and originators nationwide on new and existing services and solutions including; Comergence Concierge™, Appraiser Panel Manager Plus® and Social Media Audits and Monitoring.

Prior to joining Comergence, Mr. Scales was the Account Executive in Business Development, Compliance Services with Ellie Mae responsible for the solicitation and onboarding of their standalone Mavent Compliance service.  Before that he spent the better part of a decade as Director of Sales, Compliance and Third Party Services at First American/Interthinx.

Don’s background in technology sales and a deep understanding of data based solutions will allow him to articulate the usability of the plethora of solutions that Comergence now offers,” said Greg Schroeder, President of Comergence.  “His enthusiasm and quest to evolve the client experience will help fuel our continued growth.