Mortgage Software for Mortgage Bankers

MBA Taps Level1Analytics for Educational Software

Posted by Frank Bocchino on Tue, Sep 02, 2014

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Level1Analytics, LLC  has been selected by the Mortgage Bankers Association (MBA) to re-design the MBA's School of Mortgage Banking simulation model software. This software is used to train mortgage banking executives and managers in the complex dynamics of mortgage banking including best execution decisions. The updated software will be cloud-based and will more accurately reflect the actual interplay between often conflicting drivers of success in this industry.

The MBA's School of Mortgage Banking series includes three, four-day courses. The rigorous program created in 2005 includes two traditional classroom style courses and a capstone course that is interactive and discussion-based. This capstone course focuses on strategy and centers around a simulation that replicates the experience of running a mortgage lending operation over a period of eight quarters. During each quarter, participants are asked to make real world decisions concerning staffing (loan officers and back-office), distribution channels, hedging, product offerings and pricing, compensation, investments in technology and marketing, reserves for losses and a myriad of other decisions that mortgage executives face daily. Changing economic and regulatory scenarios over the simulation period adds realism to the exercise and often result in interesting and surprising financial results. 

Level1Analytics will use their modeling software expertise to redesign the existing software. The focus will be on cloud enabling the software, allowing easier access to the program.

"We are working towards allowing the software to have infinite flexibility for future development and be relatable to current dynamics in the industry for our classroom students," said Dr. Thomas Healy, CMB, president of Level1Analytics.

Topics: mortgage lending software, Mortgage Banking Software, Mortgage Loan Origination software

Mortgage Loan Origination Software Search

Posted by Frank Bocchino on Mon, Jan 27, 2014

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If you think searching for a new car or phone takes some thought, think about what goes into searching for new mortgage loan software. 

There are no websites, or reviews, or books to read on the subject. I's all done on word of mouth. Or maybe you remember liking the one you used at the last company? The problem is mortgae lenders don't start looking for Loan Origination Software until the need is pressing.

Why not get a head start by starting your search at OpenClose? We have the resourses to help you make the right decision-- before it's too late.  Visit us and download Loan Origination Software info for free.

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Topics: mortgage lending software, mortgage technology, Mortgage Banking Software, mortgage lender, Mortgage Loan Origination software, mortgage loan software

Mortgage software from a giant or a friend?

Posted by Frank Bocchino on Tue, Jul 16, 2013
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Global consulting firm Accenture announced plans Monday to acquire loan originations and software document management services firm Mortgage Cadence.
If you're a mortgage lender, a bank, or becoming one you have to ask yourself, do I want to to get my loan origination software from a giant? Certainly there are some advantages of all that buying power but it comes down to being a small fish in a big pond or a big fish in a small pond I suppose. 
At OpenClose, we don't treat customers like big fish or little fish, but simply as friends. Loan origination software requires partnership to work and that begins with mutual trust, knowledge, and experience.
If you are looking for a mortgage software company that has a solid track record with big companies and small and treats its customers like partners, give us a call.
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Topics: Loan Origination software, Mortgage Software, mortgage lending software, mortgage technology

Is your current mortgage software ready for your company’s future?

Posted by Bill Mitchell on Tue, Jun 25, 2013

 

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Whether you’re a Broker to Banker, have moved from Best Efforts to Mandatory, or are expanding from Servicing Released to Servicing Retained, does your mortgage software platform align with your business goals. When companies make any transition the mortgage technology often is considered as an after thought. But when it's such a major part of your daily management process, it should be at the top of your list.

And does your current vendor understand the metamorphosis to and from each paradigm? Wouldn't it be nice if there was a mortgage loan origination system that had figured out the puzzle so you didn't have to.

At OpenClose, we are ready for your company's future growth, change, or metamorphosis. We've helped other companies just like you. It's your turn now. 

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Topics: Loan Origination software, Mortgage Software, mortgage lending software, mortgage technology

Get Ready Mortgage Lenders: The NAHB housing index soared

Posted by Frank Bocchino on Mon, Jun 17, 2013

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The National Association of Home Builders' housing market index rose well ahead of expectations to 52 in June (vs consensus 45) from 44 in May. The June increase brings the index to its highest level since March 2006. By component, builders' assessments of present sales rose 8 points, the future sales index rose 9 points, and traffic of prospective buyers rose 7 points. The NAHB index is a decent leading indicator of housing starts. Over the past year, the index has risen by 17 points. 

That means there will be more mortgages for the new first time buyers, as well as those who will upgrade. Will you be ready for the influx? More importantly, will your staff? You could hire more people or you could upgrade your mortgage banking software.

OpenClose lets lenders do more with less. It is highly scaleable, allowing residential mortgage lenders to adjust to market jumps and falls. Is one of your offices busier than the others do to a housing boon? The centralized loan database lets you distribute work through work queues. 

Mortgage lenders need to be ready for the influx; OpenClose is ready to get you there!

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Topics: Mortgage Software, mortgage lending software, Loan Origination system, residential mortgage software

Mortgage software and LOS: A joint venture with customers

Posted by Frank Bocchino on Mon, May 20, 2013

 

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From the start, a joint-venture strategy manifests with OpenClose focusing on a clear matrix of business, technical and user characteristics that ensures a successful roll-out based on mutual rewards and trusts.

But we believe that customer support begins before a company becomes our customer, and that partnership starts on the sales level. Our salespeople – like our implementation and support team – bring real-life mortgage banking experience. We feel that this prevents much of the confusion that can occur when implementing a new lending solution.

The OpenClose Implementation Model has been created to ensure new clients a successful training map that will guide them to their go-live date smoothly and on time. At OpenClose, we feel that training is the most critical part in setting up the system to what matches the new customers business plans. Our in-house trainers each have a minimum of 20 years mortgage experience to help guide you to a successful implementation.

A senior account manager with a minimum of 15 years mortgage banking experience is assigned to the account that will report directly to the C-level staff within OpenClose. This specialist will handle the implementation, training and customization/enhancement requests for new customers bypassing the first tier support desk

A team of specialists is also on staff to provide additional support that may be needed during this implementation phase. Once the client is live, all members of the AM’s team are available to handle any support calls that may come in. All calls are taken live and are not sent to voice recording to be returned in the order they are received. If for any reason a specialist is not available, all calls are returned within the hour or by the end of each business day.

 

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Topics: Mortgage Software, mortgage lending software, Mortgage Banking Software

Mortgage Round Up from OpenClose mortgage software

Posted by Frank Bocchino on Mon, Feb 25, 2013
  • Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc. have cut struggling homeowners' mortgage balances by $19 billion, part of a total $45.8 billion in relief provided under a landmark settlement over foreclosure abuses. 
  • According to the Mortgage Bankers Association's (MBA) recently released National Delinquency Survey, delinquency rate for mortgage loans on one-to-four-unit residential properties in the U.S. fell to a seasonally adjusted rate of 7.09 percent of all loans outstanding at the end of the fourth quarter of 2012, the lowest level since 2008, a decrease of 31 basis points from the previous quarter, and down 49 basis points from one year ago.
  • Residential lenders originated around 3% more in U.S. loans during the fourth quarter than in the third quarter, according to the 2012 Mortgage Lender Ranking from Mortgage Daily.

Topics: Mortgage Software, mortgage lending software

Mortgage Round Up from OpenClose mortgage banking software

Posted by Frank Bocchino on Mon, Dec 03, 2012
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  • Mortgage-backed securities sales rose in November to the highest levels in more than three years. Some $176 billion in bonds backed by fixed-rate home loans were issued in November, up from $132 billion in October.
     
  • Carlisle & Gallagher Consulting Group, conducted the survey of 618 U.S. consumers in September and found that one in three would consider a mortgage from retailer Wal-Mart and almost half would consider one from online payment provider PayPal.
     
  • And finally Bank of America has told The Wall Street Journal it will wait until at least late next year to consider raising fees on some depositors and restructuring its checking account lineup.
Speaking of raising fees, has your mortgage software company told you about its plan to raise fees? If so give us a call and do some compraitive shopping
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Topics: mortgage lending software, Mortgage Banking Software, Mortgage Banks

Mortgage Banking Software Made Easy.

Posted by Frank Bocchino on Thu, Nov 15, 2012
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The mortgage business is tough and only getting tougher with regulations being added at a fever pitch. A good mortgage banking software should make the loan process easier -- not complicate it. Fortunately, there's an easy choice if you are pricing, originating, and funding residential home loans: OpenClose.

 
Don't wait. Now is the time to change. OpenClose offers loan pricing, loan origination and all mortgage banking functionality through post closing. It's an all web-based mortgage software that easily adapts to the way you do business. So don't  struggle trying to make old software work. Instead, work with a company that makes your life easier.  Use OpenClose.

            

       
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Vince Furey
OpenClose®
vfurey@openclose.com
Call (561) 804-4589

Topics: Mortgage Software, mortgage lending software, Mortgage Banking Software

Mortgage Round Up from OpenClose mortgage lending software

Posted by Frank Bocchino on Mon, Nov 12, 2012
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  • The Senate is postponing work on a mortgage refinancing bill until after they return from the Thanksgiving holiday. Democrats argue the bill will help millions of homeowners and accelerate the economic recovery  The measure, which was expected to be one of the first votes when the upper chamber returned from the recess, is getting pushed off
  • U.S. District Judge Denise Cote in Manhattan rejected Deutsche Bank AG's bid to dismiss a federal regulator's lawsuit accusing it of misleading Fannie Mae and Freddie Mac into buying billions of dollars of risky mortgage debt.
  • AIG Chief Executive Officer Bob Benmosches told Reuters that his company is now looking more aggressively at making and purchasing mortgages as investment vehicles.
Ask us how OpenClose mortgage lending software can help your mortgage business.
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Topics: mortgage lending software, mortgage refinancing, Fannie Mae, Freddie Mac

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