How the alleged scheme worked
At the heart of the complaint is Optimal Blue’s “Competitive Analytics” software, which plaintiffs say required lenders to surrender granular, loan-level data—including margins, price adjustments, and loan officer compensation.
In return, lenders gained access to competitors’ pricing intelligence, enabling them to adjust rates and fees in lockstep rather than compete openly.
“Armed with this intelligence, Loan Originator Defendants abandoned competition and instead coordinate to extract maximum profits from homebuyers,” the suit alleges.
One lender reportedly told Optimal Blue, “We were able to nearly double our margins from 1.78% in November 2024 to 3% in July 2025.”
Optimal Blue’s own marketing materials boasted that its tools provide “actual rates and live pricing so you confidently go about your work, and truly price competitively. It’s not survey pricing results like competitors offer, but rather, real-time insight into an effective pricing strategy.”