Mortgage tech provider Polly launches PollyOS for pricing and trading

Mortgage software companies keep promising a single system to fix your messy workflow, and now one major player says it finally built it. Polly, a mortgage capital markets technology provider, announced on Tuesday that it has launched PollyOS, a new operating system that combines loan pricing, eligibility, hedging, and trading on a single data foundation. The company said the platform brings together its artificial intelligence-powered product engine, Polly Hedge, and the reintroduction of its Loan Trading Exchange to let lenders track loan-level margins from the initial rate lock straight through to settlement. Adam Carmel, founder and chief executive officer of Polly, said the platform solves old legacy problems with precise tracking as transactions happen. “PollyOS solves this critical legacy problem with precision, loan by loan, as it happens,” Adam Carmel said in a statement. The platform uses a single loan record so that changes like cancellations and funding show up in the pipeline instantly, while connecting secondary marketing with accounting to let executives monitor gains and losses alongside hedge economics. Jon Foy, senior vice president of product at Polly, said legacy tools have long hurt lenders trying to spot profit leaks. Brandon Story, senior vice president of strategy at Polly and a former chief investment officer at Mr. Cooper, noted that the system explains every single basis point of profit the exact same way every day. Polly built the software alongside industry advisers including Gary Malis, chief strategy and capital markets officer at Paramount Residential Mortgage Group, and Rob Kessel, founder of Panoramic Capital Academy. For your mortgage brokerage or lending business, this means you might soon stop patching together three different software tools just to figure out if a single loan actually made you money. If your back-office team spends half their day matching spreadsheets, this software aims to give you a live dashboard of your true profit before the month ends. At least you will finally know where your money went, unlike that office printer that always jams on Friday afternoon.