Optimal Blue rolls out real-time social media compliance monitoring

Optimal Blue, a provider of secondary marketing automation and services in the mortgage industry, has launched real-time social media compliance monitoring.

The launch is the second phase of the company’s service to address monitoring of social and digital media communications for the industry within a regulatory framework. Optimal Blue currently offers compliance auditing capabilities, and the introduction of the monitoring functionality complements that service.

“In today’s social media landscape, it is imperative to take a proactive approach,” Optimal Blue CEO Scott Happ said. “By introducing a comprehensive monitoring module, clients can easily detect and resolve issues before they become costly. This also creates a phenomenal opportunity to train staff and loan officers regarding the compliance responsibilities related to social and digital media.”

The new functionality is “unlike any other service being offered in the mortgage space today,” the company said in a statement. The Optimal Blue platform features ‘trigger terms’ that allows the system to search the internet for potential infractions across corporate digital properties or a loan officer’s social networking profile.

An organizational may also add customized trigger terms to meet its specific needs. The platform delivers an automated alert when an infraction is identified. Optimal Blue said this allows for quick resolution and remediation, reduced compliance risk, and limited reputational damage.

With the rollout, Optimal Blue said its social media compliance system now allows originators to combine periodic audits with ongoing monitoring. In addition, the system delivers trend reports and provides users with insights into social media risk factors.