Ad marketplace is the first to implement Optimal Blue’s new lead-quoting application programming interface, allowing ads to display rates from multiple lenders.

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Cordless Media, a marketplace that helps companies advertise and generate leads on real estate websites, can now display real-time mortgage rates in ads through a partnership with Black Knight’s Optimal Blue division.

Tempe, Arizona-based Cordless Media is the first company to implement Optimal Blue’s lead-quoting application programming interface (API), allowing ads to display rates from multiple mortgage lenders using Optimal Blue’s product, pricing and eligibility engine (PPE).

Developed for lead-aggregation vendors, the Optimal Blue API lets Cordless Media display real-time rates in its rate table advertising and lead generation tools and ad technologies on behalf of lenders using the Optimal Blue PPE.

Kevin McMahon

“We developed this API to enhance the mortgage shopping experience, and we look forward to seeing the value it brings to Cordless Media and its customers,” Optimal Blue President Kevin McMahon said in a statement.

Cordless Media founder and CEO Darren Chausse said the company has the second-largest online real estate audience in the country, and the partnership with Optimal Blue will improve the home-shopping experience.

Darren Chausse

“It’s difficult for consumers to navigate the continuously changing mortgage market, so it’s important for us to help them understand the landscape of loan programs, interest rates and their estimated monthly impact,” Chausse said in a statement. “With the help of Optimal Blue’s lead-quoting API, we can now better assist these homebuyers in finding the most suitable loan product and mortgage rate for their needs so they can achieve the American dream of homeownership.”

Cordless Media runs a marketplace offering “header bidding for real estate,” which allows advertisers to bid for targeted audiences who visit multiple listing services (MLSs) and other real estate search sites like Altisource’s Equator.com.

While many of the ads Cordless Media serves up are targeted at consumers, the company also helps brands market products and services to real estate agents through a network of real estate sites and MLSs with a claimed reach of more than 1 million agents.

Jacksonville, Florida-based Black Knight claims Optimal Blue PPE is the industry’s most widely used product, pricing and eligibility engine. Optimal Blue PPE can be integrated with Black Knight’s Empower loan origination system (LOS), and the company has said it’s typically bundled with Empower when signing new clients.

Rival PPE solutions include Lender Price, Zillow Group’s Mortech and OpenClose’s DecisionAssist.

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Email Matt Carter

lenders | technology
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