Credit Union: Fast Integration makes for better Loan Software

credit-union“Since implementing OpenClose, we have enhanced our overall mortgage lending process and ability to provide faster, better service to members looking for a home loan,” said Don Gilliam, vice president of mortgage lending at Ascend. 

Ascend engaged with OpenClose to provide the credit union with a robust LOS that will simplify its mortgage processes, ensure compliance, improve efficiencies, maximize productivity and reduce costs –- without the time and expense of implementing and maintaining a legacy system. LenderAssist was configured to support Ascend’s specific business processes and automate the lending workflow from start to finish. The entire platform was implemented in less 60 days.

LenderAssist is cost effectively delivered on a software-as-a-service (SaaS) basis. OpenClose maintains the entire system for Ascend, thus avoiding the need to add internal staff and dramatically reducing total cost of ownership. DecisionAssist provides instant, accurate loan pricing and eligibility for Ascend’s mortgage staff. OpenClose’s team of mortgage specialists manage all guidelines and pricing on a daily basis for Ascend. In addition, as Ascend grows, LenderAssist is designed to flex and scale with the business, preventing expansion challenges.

LenderAssist creates a seamless workflow process that eliminates manual touch points, freeing Ascend employees up to devote more time to member service. Throughout the origination process, OpenClose checks for QM/ATR, Reg B, Reg Z, fee tolerance, state and federal rules and regulations, and TRID compliance. Robust reporting tools documents everything done during the lending process for auditing and compliance purposes.