Antitrust Lawsuit Targets Optimal Blue and Mortgage Lenders
Optimal Blue and top mortgage lenders face an antitrust lawsuit over alleged price collusion using real-time analytics. The lawsuit, filed in U.S. District Court in Nashville, claims that the defendants have eliminated genuine price competition for mortgage rates.
The lawsuit, seeking class-action status, includes anyone who purchased a home since 2019 with a residential mortgage that was priced, originated, or sold by any defendant using Optimal Blue's pricing and analytics tools.
The lenders who share information about their loans on Optimal Blue are part of a "cartel," and that it's an example of "concerted action.
The 81-page complaint was filed by four homeowners who used a mortgage to finance the purchase of their homes.
Author's summary: Optimal Blue and mortgage lenders face antitrust lawsuit.
- Lawsuit filed in U.S. District Court in Nashville
- Claims alleged price collusion using real-time analytics
- Seeking class-action status for homeowners since 2019