The platform determines which lenders are visible to which brokers using a proprietary matching algorithm. The algorithm is being constantly refined to maximize the number and quality of loans originated through the platform.
The matching rules include:
Lenders and brokers can see counterparties with whom they have settled a loan in the last 5 years.
In addition to historical counterparties lenders and brokers receive additional counterparties in each category they subscribe to.
Brokers receive more lenders the more loans they have settled.
Lenders and brokers can pause (reversible) or blacklist (irreversible) a counterparty.
Lenders are matched by parcel size, geographic preference, security preference and interest rate to brokers who have a track record of settling similar loans in the prior 12 months.
Low volume lenders are matched with low volume brokers and vice versa, thus the more a party uses the platform the more privilege they are accorded.
Low rating lenders are matched with low rating brokers and vice versa, thus the better parties behave the better behaved the parties they find themselves matched with.
Lower interests rates are listed ahead of higher interest rates within the same category.
Relationships are key
The algorithm does not take the place of personal relationships. While it is useful in assisting lenders and brokers to form new relationships the fact remains that the vast majority of loans written through the platform are between lenders and brokers who have previously dealt with one another.
What the platform does do is enable lenders and brokers to manage a larger number of relationships than they would be able to manually.
Specifically it tells brokers who, out of their existing contacts, has suitable funds available at given moment in time.
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Omicron uses a star-based rating system and displays metrics for every loan written by every lender and broker through the platform. This ensures that our brokers and lenders can be sure their counterparty has the track record of professionalism necessary for success.
Our lenders advertise their funds availability through the platform, this results in deals coming to them instead of needing to call around brokers. Additionally, our code of conduct and metrics on broker performance allow lenders to confidently deal with a wider range of brokers, and therefore a bigger potential pool of deals.
Our brokers use Omicron to find the best lender available for their particulare deal. The metrics on each lender which we display allow our brokers to have confidence in dealing with a wider range of boutique lenders.
Omicron utilises a star-based rating system and display metrics from every loan written through the platform. This ensures that brokers and lenders can be sure the counterparty they are dealing with has the track record of professionalism necessary for success.
Omicron is a network of private mortgage lenders and the brokers which takes the guesswork out of placing a loan privately.