We know that creating loans is not as simple as it used to be — but come on. It’s not rocket science.
Yes, the loan management business can be challenging. There are multiple offices, perhaps thid-party originators, and the need to view all the loans in the company pipeline, not just those in the corporate office.
And there are a lot of “hands in the pie” with each department needing their own way to manage.
But let’s be honest, it’s a process that’s been done for years long before the computer age. So why would so many mortgage software vendors have you think a mortgage banking solution need be overly complex? Their technology may be “complete” (which is good) but they’re so complicated you need a Masters in Physics to figure out how to pull credit, edit the 1003 or move a loan through your workflow (that’s bad). Their systems confuse and frustrate users.
Solutions need to be comprehensive, intuitive and easy or no one will use them. OpenClose provides a complete, end-to-end Web-based solution for banks, credit unions, and lenders. It’s one seamlessly integrated solution, created by one vendor. The back-end functionality provides you with all that you need through post closing, while the front end is simple, intuitive and compliant for originators. It includes a custom consumer-facing website, program eligibility and pricing engine and complete document management and imaging system. All developed in-house by OpenClose.