Company Research Report: OptiFunder

Company Overview

Name: OptiFunder

Mission: No information is available.

Founded: 2018 by Michael McFadden

Key People:

Michael McFadden (Founder & CEO)

Brian Abbott (Chief Operating Officer)

Jon Rutila (Chief Revenue Officer)

Chris Leibl (SVP, IT & Security)

Melissa Smith (VP, Product Management)

Kama Totherow (VP, Professional Services)

Chris Baker (VP, Warehouse Technology)

Carmel York (VP, Sales)

Ashley Leistler (VP, Marketing)

Pooya Eslami (VP, Software Engineering)

Headquarters: 7777 Bonhomme Avenue, 18th Floor, Clayton, MO 63105

Number of Employees: No information is available.

Revenue: No information is available.

Known For: OptiFunder is known for its advanced funding technology solutions that optimize loan funding through its Warehouse Management System (WMS) and Greyhound system for warehouse lenders.

Products

Warehouse Management System (WMS)

Description: Automates and optimizes loan funding decisions to minimize cost of warehouse.

Key Features:

Warehouse Select: Automatically selects the best warehouse line.

Wire Data Check: Detects wire instruction anomalies.

Funding Automation: Automates all funding processes.

Shipping Automation: Expedites shipping and fast-tracks payoffs.

Purchase Advice: Streamlines loan sales with automated retrieval and reconciliation.

Robust Analytics: Provides real-time data analytics and actionable insights.

Greyhound Warehouse Management System

Description: A modern-day warehouse lending solution for warehouse lenders.

Key Features:

Highly Configurable Workflow: Automates all aspects of warehouse lending.

Funding Requests: Configurable relationships and templates for data ingestion.

Shipping Requests: Tracks documents and their final destinations.

Paydown Requests: Simplifies the processing of paydown requests.

Integrated Partners: Real-time access to loan pipelines with integration to all major LOS systems.

Recent Developments

New Products and Features

Greyhound: Launched as a modern management system for warehouse lenders, enhancing efficiency and security.

Purchase Advice Connect: Automates the retrieval, reconciliation, and write-back of purchase advice data, integrated with Fannie Mae and Freddie Mac.

Partnerships

FraudGuard Integration: Collaboration with First American Data & Analytics to integrate FraudGuard® into Greyhound, improving security for warehouse lenders.

Equity Prime Mortgage Partnership: Equity Prime Mortgage selected OptiFunder to optimize and automate loan funding through post-closing.

Awards and Recognitions

Inc. 5000: Recognized as one of the fastest-growing private companies, ranking No. 1310 in 2024 with three-year revenue growth of 395%.

HousingWire Vanguards Award: CEO Michael McFadden honored for outstanding leadership in the housing economy.

Tech100 Mortgage Winner: Recognized by HousingWire for innovative contributions to the mortgage industry.

Progress in Lending Innovations Awards: Greyhound system selected as a winner in 2024.

Client Testimonials

GoPrime Mortgage: "We’re more efficient with OptiFunder, and able to focus more of our operations resources on supporting originations." - Matthew Roberts, CFO

Neighborhood Loans: "We moved quickly to implement; within a month we were able to start reducing expenses and automating processes." - Michael Kennemer, CFO

Benchmark Mortgage: "The automation for funding and purchase advices has greatly improved our efficiency." - Mike Doncer, VP Secondary Operations

Conclusion

OptiFunder is a leading innovator in the mortgage technology industry, providing comprehensive solutions for mortgage originators and warehouse lenders. The company's proprietary algorithms and integrative systems deliver significant efficiency and cost savings. The recent developments and strategic partnerships underscore OptiFunder’s commitment to advancing mortgage funding processes, making them a critical player in the market.