Mortgage Loan Origination Software (LOS)

Residential Mortgage Lenders: Can this really be called a choice?

Posted by Frank Bocchino on Fri, Aug 23, 2013
thirdpartylackofchoice resized 600
Some loan origination software (LOS) vendors like to tout the number of third-party interfaces they offer. But chances are, you've never heard of most of them, and your preferred vendors of choice are simply "not an option."
That's because those LOS vendors often own those companies and force you to use them so they can increase your cost per loan even more. Hmm. That doesn't sound like "choice" to us.  
At OpenClose, we choose to interface with third-party vendors based upon their reputation and marketshare, not by who's on the payroll.  
  Created on 06/07/12 at 11:57:33

Topics: Mortgage Software, residential mortgage software, Residential Mortgage Lenders

Get Ready Mortgage Lenders: The NAHB housing index soared

Posted by Frank Bocchino on Mon, Jun 17, 2013

Screen Shot 2013 06 17 at 9.24.30 AM

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, mortgage lending software, Loan Origination system, residential mortgage software

Point A to B in a Loan Origination System

Posted by Frank Bocchino on Fri, Feb 22, 2013
Funding loans can be an involved -- often tricky -- process. But OpenClose's Web-based loan origination software can streamline your loan workflow through advanced automation rules. Going from Point A to Point B can be straightforward. 

Some LOS vendors say they're web-based but they're really just web-enabled and require additional software to communicate  That means transactions take more complicated routes, more time and are at more risk for errors. 

Funding loans may be complicated, but loan software doesn't have to be. 

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Topics: Loan Origination software, Loan Origination system, residential mortgage software

One last Holiday gift: residential mortgage software

Posted by Frank Bocchino on Wed, Dec 19, 2012

images 1 resized 600Done with your Holiday shopping? Time to add one more item: residential mortgage software. If you are planning a change in 2013, there's still time to see OpenClose and take advantage of the 2012 pricing.

Get started with us now, and depending upon your company size, and we can get you on the implementation schedule for early next year.   

If you fund 30 loans or more a month, OpenClose would save you money, time, and costly errors. Whether you're a bank, lender, or credit union, utilizing OpenClose -- an all Web-based solution from loan pricing through post closing -- is a good New Year's resolution. Register for a demo


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Topics: residential mortgage software, bank loan software

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