OpenClose®, the leading fintech provider of residential mortgage software solutions for banks, credit unions and mortgage lenders, announced that it has again been designated to HousingWire’s Tech100 list for 2022. OpenClose closed out 2021 year with a 24 percent increase in new customers and a 53 percent growth rate in revenue from the previous year.
HousingWire’s Tech100 program provides housing professionals with a comprehensive list of the most innovative and impactful organizations that can be leveraged to identify partners and solutions to the challenges that mortgage lenders and real estate professionals face every day.
Judges at HousingWire lauded OpenClose for being the mortgage industry’s most established LOS provider that offers its solution suite as a 100 percent browser-based platform. The fintech firm also saw an increase in lender adoption of its award-winning consolidated POS and LOS solution that marries the front-end with the back-end using a centralized approach. The solution slashes the cost to manufacture loans, eliminates the need for multiple vendors, and alleviates system-to-system integration challenges. In addition, OpenClose’s premier RESTful API suite speeds up new integrations and reduces the annual cost to maintain them.
“In a margin compressed business environment, atop every lender’s list is the need to cut costs, which we are laser-focused on,” stated JP Kelly, president of OpenClose. “Our LenderAssist® platform was the mortgage industry’s first completely browser-based LOS and in recent years has emerged as the market leader. We are truly honored to receive this year’s Tech100 award.”
Also recognized by HousingWire was OpenClose’s 2021 launch of an enhanced version of its ConsumerAssist® solution for borrowers and loan officers to harness. OpenClose also introduced its Mobile Assist app, which takes mobile lending a step beyond ordinary apps by bringing a new level of transparency to a lending ecosystem that centralizes the process and connects business-critical entities.
“This year’s list of Tech100 honorees proves once again that innovation within housing is vital in differentiating the organizations who will thrive and those who will be left behind,” said Clayton Collins, CEO of HW Media. “This list spotlights the innovators that are making the housing sector better and more sustainable by increasing efficiency, improving user and borrower experiences and bringing elasticity and improvements to age-old processes.” Last year OpenClose boasted a three-year growth rate of 69 percent, earning a spot on the Inc. 5000 list for the first time in company history, with a rank of number 23 in the state of Florida within the ‘Software’ category.
Founded in 1999, OpenClose is the preeminent fintech provider that developed the mortgage banking industry’s first SaaS-based lending automation software platform. Today, the company has expanded to become an award-winning, comprehensive loan origination software suite that slashes the cost to manufacture loans by up to 40 percent, reduces processing and underwriting cycle times by up to 50 percent, and requires minimal support to install and manage. OpenClose is the only vendor in the industry able to offer a true end-to-end, omni-channel, 100 percent browser-based, workflow-driven platform that effectively consolidates the digital POS, LOS, PPE and BI functions via a single provider, with easy access from any browser or mobile device. For more information, visit https://www.openclose.com/ or call (561) 655-6418.
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