"Filed on Oct. 3 in U.S. District Court in Nashville, the suit accuses Optimal Blue and the lenders of violating federal antitrust laws, alleging that the defendants exploited their control of the residential mortgage industry to orchestrate a price-fixing scheme that has inflicted substantial damages on Plaintiffs and the Class. The complaint names Optimal Blue, its former owner Black Knight and its current owner, Constellation Software, along with 26 lenders that collectively originated more than 7 million loans between 2019 and 2024."
"The complaint misrepresents the capabilities of Optimal Blue in an effort to force this case into the template of other algorithmic pricing' lawsuits; however, Optimal Blue's products are, in fact, nothing like the products at issue in those cases. Our products do not provide any pricing or rate recommendations; our products are not pricing algorithms, and our market obviously doesn't operate in a manner where the rates of any individual or group of lenders determine what thousands of other lenders choose to do."
A lawsuit filed in U.S. District Court in Nashville accuses Optimal Blue and 26 lenders of violating federal antitrust laws through a price-fixing scheme that allegedly exploited control of the residential mortgage industry and caused substantial damages to plaintiffs and a class. The complaint names Optimal Blue, its former owner Black Knight and current owner Constellation Software, and alleges the lenders collectively originated more than 7 million loans between 2019 and 2024. Optimal Blue disputes the allegations, stating its products do not provide pricing or rate recommendations, are not pricing algorithms, promote competitive consumer pricing, and that the complaint misrepresents product capabilities. The company has retained counsel and seeks dismissal.
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