OpenClose Reaches 55,000 Customers
OpenClose Solutions (West Palm Beach, Fla.), developers of Web-based, mortgage lending software, announced at MBA’s Annual Technology in Mortgage Banking Conference & Expo that it exceeded the 55,000 customer mark. This includes users of OpenClose, a single-source-code, end-to-end automated mortgage system, and Decision Assist, a loan pricing and automated underwriting system.
“Growing from 30,000 to more than 55,000 customers since 2006 is evidence that the industry needs an affordable, end-to-end LOS that covers origination, secondary, underwriting, and closing,” said Rob Pommier, senior vice president for OpenClose Solutions. “The flexibility and stability that comes from a .NET Web-based system gives lenders of any size access to the same technologies enjoyed by the industry’s largest lenders – at a price they can afford.”
OpenClose automates a lender’s back-end operations from origination to closing in one system. The software, which is a Web-based .NET system, includes support for underwriting, robust core banking operations, closing, post-closing, secondary marketing, funding, shipping and reporting. The software is accessible by any lender with an Internet connection, allowing wholesale and retail lenders to use the system with originators nationwide.
In addition to the OpenClose LOS, the company also offers lenders a product guideline, pricing and decisioning engine. The program gives lenders a powerful tool to keep up with the rapidly changing investor guidelines in the industry, price the loans and make automated decisions on the loans. Decision Assist also enables lenders to secure underwriting through Fannie Mae’s Desktop Underwriter (DU) or Freddie Mac’s Loan Prospector (LP) to assist in underwriting. Decision Assist, is available within OpenClose or as a stand-alone installation.
“As lenders look to streamline their internal processes to shorten the time spent on loan files, OpenClose meets their needs with a single-source-code, end-to-end system,” said Pommier. “OpenClose is there to help lenders, no matter the size or lending environment of the lender, automate every task in the life of the loan from open to close.”
About OpenClose Solutions
West Palm Beach, Fla.-based OpenClose Solutions has been a pioneer of on-demand mortgage solutions since its inception in 1999. The Web-based end-to-end mortgage-banking platform, which includes Decision Assist™, contains all elements of the lending process for retail, wholesale and correspondent channels. Each installation is customized to the lender’s workflow, business model and terminology. For more information, visit the company’s Web site at www.openclose.com or www.decisionassist.com.
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