Mortgage Loan Origination Software (LOS)

Joe Bowerbank

Recent Posts

OpenClose Receives Highest Overall Satisfaction and Lender Loyalty Score™

Posted by Joe Bowerbank on Wed, Apr 24, 2019

 

STRATMOR Group’s latest Technology Insight Survey, our LOS platform, POS, and PPE were ranked as having the highest Overall Satisfaction and Lender Loyalty Score™ out of any vendor surveyed in the mortgage industry!

The report covered multiple areas of mortgage technology, providing detailed evaluations of vendors in core areas of residential lending automation. Our mortgage software solution suite scored extremely well in all categories surveyed!

Key Findings in the Report:

  • We had the highest Overall Satisfaction rating out of all LOS vendors surveyed in the mortgage industry, scoring 9.7 out of 10, and had a perfect 100 Lender Loyalty Score™.

 

  • We were the only LOS provider that had zero outages reported.

 

  • In the POS category of the survey, we scored higher than any vendor for Overall Satisfaction at 9.4 out of 10 and had the best Lender Loyalty Score™ with 86 out of 100.

 

  • For front-end digital mortgage solutions, STRATMOR’s analysis of the Lender Loyalty Score™ for these systems shows us as the #1 vendor in Overall Satisfaction.

 

  • Our DecisionAssist™ PPE scored the highest in Overall Satisfaction and also touted a perfect 100 for its Lender Loyalty Score™.

 

  • We were also the only vendor to receive an LOS functionality score of 100% from users for ‘Availability of Help Desk’ and ‘Overall Customer Support’ as being “Highly Effective/Competitively Advantaged.”

The complete press release announcing the survey findings for OpenClose can be read here. 

Topics: OpenClose Mortgage Software

OpenClose Launches DecisionAssist Mobile for Originators

Posted by Joe Bowerbank on Mon, Jul 16, 2018

Image result for California Mortgage Bankers Association (CMBA) 46th Annual Western Secondary Marketing ConferenceOpenClose®, an industry-leading multi-channel loan origination system (LOS) and mortgage fintech provider, announced at the California Mortgage Bankers Association (CMBA) 46th Annual Western Secondary Marketing Conference that it unveiled DecisionAssist™ Mobile, which provides fingertip access to the company’s proprietary web-based product and pricing engine (PPE).


Using DecisionAssist Mobile, originators are able to quickly and efficiently compare eligible products and pricing and deliver the results directly to their borrowers from anywhere at any time via any mobile device. Retail originators, wholesale brokers and correspondent sellers can instantly quote multiple loan products for a specific loan scenario on-the-fly and immediately email the borrower comparative details. An email summary of the quoted prices is simultaneously returned to the originator to follow up with the borrower. The result is faster service, convenience, greater transparency, reduced cycle times and increased pull-through rates.

“As an industry leader in the digital mortgage space, one of the key things we focused on when developing DecisionAssist Mobile was speed and ease of use for the originator,” said Gordon Frigaard, director of PPE technologies at OpenClose. “A common complaint we hear is that many mobile apps are difficult to work with and require too many data points to input. DecisionAssist Mobile, however, makes it quick and simple for salespeople to deliver borrowers detailed product and pricing answers while on the go.”

OpenClose’s DecisionAssist PPE is leveraged by direct lenders, investors and portfolio lenders. Of significance is that OpenClose is able to easily implement and maintain custom non-QM programs within DecisionAssist, instantly decision them, and provide immediate insight on salability of loans under agency or non-agency guidelines. The product can be used via OpenClose’s LenderAssist™ LOS or as a standalone web-based solution. It also integrates seamlessly with DU® and LP® for full automated underwriting capability on agency products.

OpenClose employs a team of mortgage specialists who maintain an extensive library of up-to-date investor guidelines and pricing on a daily basis to ensure accurate decisioning results are returned. Custom non-agency programs are also fully configured and completely maintained by OpenClose for lending entities. In addition, custom rate creation can be automated for timely distribution to branches, originators, brokers and sellers.

OpenClose will be holding discussions regarding DecisionAssist Mobile, its LenderAssist multi-channel LOS, as well as the company’s ancillary digital mortgage solutions on July 16 – 18 at the CMBA’s 46th Annual Western Secondary Marketing Conference in San Francisco, California.

About OpenClose:
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS) and fintech provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of innovative, 100 percent web-based solutions for lenders, banks, credit unions, and conduit aggregators.

OpenClose’s core solution, LenderAssist™, is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence.

#OpenClose #DecisionAssistMobile #WesternSecondary #LoanOriginationSystem #MortgageSoftware

 

Your LOS Database Structure is Killing Productivity.

Posted by Joe Bowerbank on Mon, Jun 11, 2018

Flat File Debacle

It’s a night and day jaw-dropping difference. 
 
Put simply, the way your LOS database is structured plays a significant role in how efficient and quick your organization is in successfully taking a loan application from the point-of-sale all the way through secondary marketing. It’s becoming known as the flat file database debacle.
 
Many lenders are engaged with LOS vendors that have what are termed “flat file” database structures. Flat file databases create numerous problems with how information is organized and stored; it is slow to query and hard to locate information; there are inconsistencies and duplicate items; multiple employees are unable to work on the same loan file simultaneously; loading the pipeline can come to a crawl; and employee productivity is hindered for many functional areas that are trying to efficiently and expeditiously complete tasks.
 
Relational databases enhance performance, provide more timely and robust reporting, and delivers numerous newfound operational efficiencies - and does it for all business channels leveraging a single, centralized database for your LOS.
 
See the difference for yourself, give OpenClose a call to learn how to end the flat file database debacle.

More About OpenClose

 

Topics: OpenClose Mortgage Software

Credit Unions Successfully Leveraging OpenClose LenderAssist™ LOS

Posted by Joe Bowerbank on Tue, Nov 07, 2017

LOS platform helps credit unions effectively manage the mortgage business, bringing newfound efficiencies to operations and further elevating member service levels

OpenClose®, a multi-channel loan origination system (LOS) and mortgage software solutions provider, announced that multiple credit unions are now using OpenClose’s LenderAssist™ LOS platform to automate the mortgage side of their businesses.

The company attended the American Credit Union Mortgage Association’s (ACUMA) annual fall conference being held at the Bellagio Hotel and Resort in Las Vegas on Sept. 24 – 27, 2017, which this year had a focus on new technology and digital mortgages.

OpenClose has been helping credit unions optimize the member/borrower experience, simplify their mortgage processes, improve efficiencies, maximize productivity, reduce costs and ensure compliance. Its end-to-end web and SaaS-based LOS can be configured to credit unions’ unique way of doing business.

Credit union implementations are swift, easy and are custom-configured by the OpenClose team. The onus of the implementation is performed by OpenClose along with comprehensive training and support. Maintenance of the LOS is completely handled by OpenClose, requiring no extra resources from credit unions.

“OpenClose treats customers as long-term partners, responding to enhancements and new functionality requests while always providing excellence in support and training,” said JP Kelly, president of OpenClose. “Our customers aren’t just numbers at OpenClose, as with so many other LOS vendors. This directly ties into the way credit unions service their members.”

The LenderAssist LOS creates a seamless workflow process that removes manual touch points, freeing employees up to devote more time to member service. Throughout the mortgage lending process, OpenClose checks for QM/ATR compliance, TRID compliance, Reg B, Reg Z, fee tolerance, and state and federal rules and regulations. Further, robust reporting and analytics document everything that transpires during the lending process for auditing and compliance purposes.

To better service credit unions’ unique needs, OpenClose recently joined the American Credit Union Mortgage Association (ACUMA), which provides resources and education to credit unions aimed at streamlining performance, processes and procedures for real estate lending services. ACUMA’s goal is to encourage credit unions to help more consumers get fairly priced and safe mortgage loans delivered locally, and in so doing, providing them with a pathway to the American dream of home ownership. 

Arch MI and OpenClose Announce New Integration

Posted by Joe Bowerbank on Tue, Aug 29, 2017

Arch MI and OpenClose Announce New Integration

Enhancement provides easy access to Arch MI RateStar within OpenClose LOS

GREENSBORO, N.C. – Aug. 21, 2017 – Arch Mortgage Insurance Company (“Arch MI”), a leading provider of private mortgage insurance (MI) and a wholly owned subsidiary of Arch Capital Group Ltd., and OpenClose®, a multi-channel loan origination system (LOS) and mortgage software solutions provider, have completed a new integration allowing immediate access to Arch MI RateStar® pricing from within the OpenClose LenderAssist™ LOS.

RateStar is a risk-based pricing program that matches Arch MI’s most competitive MI rates more precisely to individual loan risk. As a result of the integration, LenderAssist users can call up RateStar pricing at the press of a button, then view side-by-side comparisons of multiple live Arch MI products and rates.  LenderAssist users can then select the best mortgage insurance option for their borrowers and automatically apply the selected Arch MI product and pricing to their loan. Live MI pricing is returned in seconds and stored in LenderAssist for future reference.

“We are pleased to be the first MI company to partner with OpenClose,” said Chris Hovey, executive vice president and chief operating officer at Arch MI. “The completion of this RateStar integration means that LenderAssist customers now have access to a more competitive, sophisticated and dynamic MI pricing solution than conventional rate sheets. Not only will they be able to quickly obtain RateStar quotes from within OpenClose’s multi-channel LOS, the integration will also eliminate the cumbersome re-entry of data and increase their productivity.”

“Put simply, this integration eliminates manual steps and allows our customers to tap Arch MI’s RateStar solution to price mortgage insurance coverage based on loan risk, which ultimately helps originators offer eligible borrowers the best pricing for their specific loan scenario,” said Vince Furey, senior vice president of lending solutions at OpenClose. “Both OpenClose and Arch MI are committed to maximizing value for lenders, which this integration showcases.” 

About OpenClose

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS) mortgage software solutions provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent web-based solutions for lenders, banks, credit unions and conduit aggregators. OpenClose’s core solution, LenderAssist™, is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit http://www.openclose.com  or call 561-655-6418.

About Arch MI

Arch Capital Group Ltd.’s U.S. mortgage insurance operation, Arch MI, is a leading provider of private insurance covering mortgage credit risk. Headquartered in Walnut Creek, CA, Arch MI’s mission is to protect lenders against credit risk, while extending the possibility of responsible homeownership to qualified borrowers. Arch MI’s flagship mortgage insurer, Arch Mortgage Insurance Company, is licensed to write mortgage insurance in all 50 states, the District of Columbia, and Puerto Rico. For more information, please visit archmi.com.   

Media Contacts:              

Arch MI

Greg Hare
+1 336-333-0416
ghare@archcapservices.com

Method Communications
Ramona Redlingshafer
+1 415-849-1322
ramona@methodcommunications.com

OpenClose

Joe Bowerbank
Profundity Communications, Inc.
+1 949-378-9685
jbowerbank@profunditymarketing.com

Topics: Compliance

National Mortgage Professional Magazine Names OpenClose President JP Kelly to Annual ‘Top 50 Most Connected Mortgage Professionals’ List

Posted by Joe Bowerbank on Tue, Aug 22, 2017

OpenClose, a multi-channel loan origination system (LOS) and mortgage software solutions provider, announced that its president, JP Kelly, has been awarded the ‘Top 50 Most Connected Mortgage Professionals’ distinction for 2017 by National Mortgage Professional (NMP) magazine.

OpenClose President JP Kelly
The magazine states that individuals who earn a spot on the list are very successful, well-connected, recognized, powerful networkers and influencers in the mortgage industry. They are esteemed by their peers as subject matter experts in their respective areas of focus who consistently serve as trusted sources of guidance, data and leadership.

JP is a long-time veteran of the mortgage industry who possesses a diverse background, owning both a full-service mortgage bank and an enterprise-class mortgage technology software firm. He is a renowned executive that is lauded by industry participants as a constant innovator of contemporary, completely web-based technology which helps lending entities operate efficiently and effectively.

Under JP’s leadership, OpenClose’s footprint has expanded in the mortgage industry with consistent revenue growth for the last several years, realizing an impressive 30 percent growth rate from 2015 to 2016.

OpenClose offers one of the mortgage industry’s only 100 percent web-based LOS platforms that has robust multi-channel automation capability. The company’s solutions include its LenderAssist™ LOS, DecisionAssist™ product and pricing engine (PPE), turnkey OC Correspondent™ module, ConsumerAssist™ borrower-direct websites, OC Optics™ analytics and reporting software, and mobile technology.

The company’s mortgage software is utilized by medium to large-size mortgage bankers, banks, credit unions and conduit aggregators.

 

More About OpenClose

OpenClose Launches Corporate Website to Reflect New Positioning of its Enterprise-class, Multi-channel LOS and Mortgage Software Solutions

Posted by Joe Bowerbank on Tue, Jun 27, 2017

17-0626-openclose-site-600x450.jpg

WEST PALM BEACH, Fla., June 26, 2017 (SEND2PRESS NEWSWIRE) — OpenClose, a multi-channel loan origination system (LOS) and mortgage software solutions provider, announced it unveiled a new corporate website to better position the company’s expanded enterprise-class solution set, customer profile focus and long-term value proposition.

“We’ve grown exponentially over the past five years, and as such, had a need to ensure that the positioning of OpenClose as a company and its products are in line with our corporate mission, business strategy, customer commitment and ongoing technology innovation efforts,” explains JP Kelly, president of OpenClose. “This new website is designed to clearly convey our comprehensive solution offering and our ability to cater to top 20 lenders that have multiple business channels and complex operations.”

OpenClose offers one of the mortgage industry’s only 100 percent browser-based LOS platforms that has robust multi-channel automation capability. The company’s LenderAssist™ LOS and other solutions were all engineered from the ground up using the same code base, and it has been owned and operated by the same principles since the company was founded in 1999. Unlike many LOS vendors, LenderAssist’s comprehensive end-to-end functionality was not created by way of multiple acquisitions, which typically rope together disparate technologies that can be prone to issues; or, via integrations with many third party vendors that are done in order to make up for system deficiencies.

Vince Furey, SVP of lending solutions at OpenClose, stated: “We have been boarding top-tier, very large lending entities that are successfully leveraging our LOS as a centralized platform to automate all business channels and workflows. Our new positioning showcases the immense power that OpenClose’s enterprise-class mortgage software solutions offer and how they are very flexible, scalable and well-supported by our staff. While we have the proven scalability to support the largest national lenders, OpenClose is really the ideal solution and long-term technology partner for any size lending organization.”

Key aspects of OpenClose’s value proposition include: quick implementations; custom-configurable with easy set up; seamless workflow-driven automation with no manual intervention; fully web-based with no installs whatsoever; fully SaaS and Cloud-based technology; proven scalability; single code; hands-on implementations and system training; and second to none, boutique-style customer support.

OpenClose solutions include its LenderAssist™ LOS, DecisionAssist™ product and pricing engine (PPE), turnkey OC Correspondent™ conduit module, ConsumerAssist™ borrower-direct websites, OC Optics™ analytics and reporting software, and mobile technology.

 

OpenClose and MCT Complete New Integration to Optimize Loan Hedge Positions for Lenders

Posted by Joe Bowerbank on Mon, Jan 23, 2017

PALM SPRINGS, Calif., Jan. 23, 2017 (SEND2PRESS NEWSWIRE) — Independent Mortgage Bankers Conference — OpenClose® an enterprise-class, multi-channel loan origination system (LOS) provider, and Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing technology firm, jointly announced they developed an integration that eliminates manual intervention and streamlines the delivery of loan data to maximize hedging for lenders.

Mortgage Capital Trading and OpenClose
The integration works by automatically taking loan-level details that are originated and locked in OpenClose’s LenderAssist™ LOS and then securely passing them directly to MCT to hedge. The entire process of obtaining critical data becomes very easy, with updates occurring every 15 minutes. This removes several steps in the data acquisition process, saving time, reducing errors and providing faster reporting.

“We worked diligently with the team at OpenClose to develop this connectivity between their LOS and our proprietary HALO hedging model, which now facilitates a much smoother, quicker way for us to obtain locked loan information from our mutual customers,” said Chris Anderson, chief administrative officer at MCT. “We are continuing to expand our integration partner network in order to provide the best service and support for our lender clients. Over the past few years, MCT has significantly expanded our business services with technology being a key area, especially with the adoption of our web-based secondary marketing platform, MCTlive!

The longer lenders are exposed to interest rate movements the more prone they are to have locked loans without hedge positions. As a result of the integration, MCT is able to hedge more frequently as opposed to having the lender manually send pipeline reports to them. The automatic updates are performed every 15 minutes which provides a tangible reduction in risk by shortening the time period between rate locks and hedge positions.

As it relates to lenders, there isn’t anything that they have to do to enable the new integration. MCT performs the heavy lifting and all parties benefit from the resulting efficiencies gained. OpenClose and MCT worked closely together from a technology perspective to streamline the process.

“This integration saves my staff valuable time and transfers our data quickly and securely, ensuring that my hedge positions are always optimized,” says Dan Beam, senior vice president of capital markets at Firstrust Bank. “Both OpenClose and MCT are forward-thinking companies that recognize the importance of investing in enhancements like this for the benefit of lenders.”

“A key common thread between our organizations is an unwavering commitment to always provide excellence in customer support,” said Vince Furey, senior vice president of lending solutions at OpenClose. “We are also like-minded in that we are both very selective about the organizations we partner with. OpenClose is pleased to expand our technology relationship with MCT.”

About OpenClose:
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose’s core solution, its LenderAssist™ LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform.

The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call (561) 655-6418.

OpenClose Twitter: https://twitter.com/openclosesocial

About MCT:
Mortgage Capital Trading (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, California in May 2001, the company has expanded to include field sales and support offices in Philadelphia, Dallas, San Francisco and Charlotte. MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program. The company also develops and supports MCTlive!™, an award-winning real-time, trading and best-execution secondary marketing platform.

MCT’s LockCentral™ is the industry’s largest outsourced centralized lock desk service. For more information, please visit www.mct-trading.com or call (619) 543-5111.

MCT Twitter: https://twitter.com/mcttrading

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

 

OpenClose President JP Kelly Named to HousingWire’s 2016 Vanguard Award List

Posted by Joe Bowerbank on Fri, Jan 06, 2017

WEST PALM BEACH, Fla., Dec. 22, 2016 (SEND2PRESS NEWSWIRE) — OpenClose, an enterprise-class, multi-channel loan origination system (LOS) provider, announced that HousingWire honored its president, JP Kelly, with its second annual Vanguard Award. The list recognizes highly successful executives who are making a positive difference in their respective fields across the mortgage industry.

jp_kelly-1.jpg
“The HW Vanguards continued to impress going into its second year; the winners are second-to-none and this list represents the finest cross section of mortgage talent available,” said Jacob Gaffney, HousingWire editor-in-chief.

Winners were comprised of demonstrated leaders in the housing industry, achieving success that has impacted not only the members of individual organizations, but also the entire industry. The program recognizes C-level and business unit executives who have become leaders in their respective fields within housing and mortgage finance — those whose leadership is moving markets forward, each and every day. HousingWire states that it sets an extremely high bar for choosing its second annual list of HW Vanguards, which is a very competitive contest.

Key reasons that Mr. Kelly made the Vanguard Award list is the immense success that OpenClose has been experiencing with its multi-channel LenderAssist™ LOS and turnkey OC Correspondent™ module. Under Mr. Kelly’s leadership, OpenClose continues to grow at a rapid rate with lenders, banks and credit unions adopting its comprehensive LOS platform that fully automates all lending channels. The company also has a significant number of mortgage lenders and conduit aggregators that started leveraging its correspondent technology.

Several industry LOS technology studies and surveys have repeatedly scored OpenClose as being a leader in successful implementations, ease of system use, depth of functionality, innovation, responsive technical support, overall satisfaction, and customer retention, among other areas.

“I am honored to have been chosen as a Vanguard Award winner; it speaks volumes about the success OpenClose has had in recent years,” stated JP Kelly, president of OpenClose. “We have been at the forefront of web-based LOS technology since our inception in 1999. The impetus behind OpenClose’s success is really the result of our extremely dedicated, passionate, customer-focused employees who possess both mortgage lending and mortgage technology experience.”

Vanguard Award Stats:

  • 40 winners in total
  • Second annual list
  • Winners were chosen by the HousingWire editorial board based on tangible leadership within their companies and the industry at large
  • All winners are executives, most being of the C-level suite
  • 23 of the winners serve as president or CEO of their company
  • The list also includes a COO, an executive director, a division president, seven EVPs and an SVP
  • Eight of the winners are the founders of their company.

About OpenClose:
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions.

OpenClose’s core solution, its LenderAssist™ LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call (561) 655-6418.

About HousingWire:
HousingWire.com is the leading independent source for news, commentary and analysis covering the entire mortgage banking and financial markets. Staffed by a core team of experienced journalists and editors, HousingWire.com delivers breaking news and opinions on U.S. housing and mortgage finance. HousingWire.com has a well-developed reputation for delivering today the news other trade outlets will be reporting on tomorrow — and our readers value the information they get from www.housingwire.com first.

Topics: LOS

OpenClose Releases New Mobile and Online Tools for Borrowers with Enhancements to its ConsumerAssist Solution

Posted by Joe Bowerbank on Tue, Nov 15, 2016

WEST PALM BEACH, Fla., Nov. 15, 2016 (SEND2PRESS NEWSWIRE) — OpenClose, an enterprise-class, multi-channel loan origination system (LOS) provider, announced that it has redesigned and added new features to its borrower-facing ConsumerAssist™ solution to deliver exceptional online and mobile point-of-sale tools.

OpenClose
The enhancements to ConsumerAssist creates a highly attractive, straightforward and interactive experience for consumers. ConsumerAssist can be accessed via the web or any mobile device, providing portability and accessibility at any time and from anywhere. This results in an increase in leads and a decrease in production costs.

As a borrower completes an application from any device, alerts are triggered in real-time that are sent to the lender for quick follow up by a loan officer or customer service representative. Lenders can then immediately engage the borrower, quickly answer questions and start the sales process. This significantly improves lead capture and conversion rates, resulting in more closed loans and greater profits. The features of ConsumerAssist can be customized to a lender’s unique specifications along with branding for both branch and loan officer web pages, as well as mobile applications to create a more personalized experience.

“In today’s competitive mortgage marketplace, customers are seeking new ways to attract borrowers and to do more with less while maintaining high service levels,” said Jason Regalbuto, CEO and CTO of OpenClose. “ConsumerAssist is ideal for lenders looking to add a high impact web and mobile presence that provides an outstanding consumer experience. The solution allows visitors to start the lending process themselves without having to first speak to a loan officer. At the end of the day, ConsumerAssist is about increasing leads and decreasing origination costs for lenders.”

Lenders also have the flexibility to offer on-demand program eligibility and pricing for borrowers by leveraging OpenClose’s DecisionAssist™ product and pricing engine (PPE), which instantly returns decisioning at the point-of-sale. OpenClose’s team of mortgage specialists maintain an extensive library of up-to-date investor programs, guidelines and pricing for its customers.

ConsumerAssist can easily be added to a lender’s existing website and is integrated with OpenClose’s LOS, LenderAssist™. It also has the capability to integrate with customer relationship management (CRM) software and other third party applications. The set up timeframe for ConsumerAssist can be customized and implemented in as little as 30 days.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose’s core solution, its LenderAssist™ LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence.

For more information, visit http://www.openclose.com/ or call (561) 655-6418.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

Topics: LOS

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