LOS platform helps credit unions effectively manage the mortgage business, bringing newfound efficiencies to operations and further elevating member service levels
WEST PALM BEACH, Fla. – Sept. 21, 2017 – 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 will be attending 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 has 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.
OpenClose will be attending ACUMA’s annual fall conference being held at the Bellagio Hotel and Resort in Las Vegas, September 24-27, 2017. The conference brings together the nation’s top mortgage-lending credit unions and the industry’s leading experts for three days of learning and networking. This year’s event is built around the theme of “Driving into the Digital Age.” It features a focus on new technology and disruptors to the traditional pipeline. For more information, visit http://annual.acuma.org/.
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.
Profundity Communications, Inc.