Correspondent Lending Automation

Standalone or LOS Integrated Correspondent Lending Software

OC Correspondent™ is a turnkey correspondent mortgage technology module that unifies all aspects of the correspondent lending process .

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Correspondent Mortgage Lending: A Turnkey Solution

Expand Your Correspondent Lending or Conduit Business

Whether you’re looking to expand your existing correspondent lending channel or conduit aggregators, or launch a completely new channel, OpenClose’s OC Correspondent™ mortgage technology module is proven to help lending entities succeed.

The correspondent lending and conduit business has gained increasing momentum in the last couple of years, presenting new market share opportunities to capture. To do so, you need the right correspondent lending technology to effectively support the entire channel. Without leading correspondent/conduit technology, however, effectively operating a correspondent channel can become a challenging undertaking.

OC Correspondent can be leveraged by mortgage banking entities as a standalone technology module or as seamlessly integrated with our LenderAssist™ loan origination system (LOS).

OC Correspondent Benefits

Easily Grow or Launch a Correspondent/Conduit Channel

As a 100% web-based solution, OC Correspondent™ is turnkey mortgage technology that unifies all aspects of the correspondent process and can be accessed by users from anywhere at any time. It consists of a robust seller-facing web portal, custom-configured workflows, automated eligibility and decisioning, quality controls, lock notifications, real-time pipeline status, compliance, analytics, reporting, document management, an imaging system and more.

Robust Decisioning Ensures Loan Quality

Our DecisionAssist™ loan product & pricing engine (PPE) resides in the background of OC Correspondent, which ensures that loans submitted meet your specific pricing and eligibility requirements. Business rules can be configured to return information that reveals loan quality and areas to correct or reject. Bulk commitments and AOTs with delegated or non-delegated options are efficiently processed.

Compliance Adherence

Automatic change monitoring immediately identifies critical loan changes for all loans submitted and processed. Full control and visibility over processes is provided and all communication and due diligence is well-documented and tracked along with detailed analytics and reporting. Audit trails are logged and securely stored in the event of a regulatory audit.

Elevate the Seller Experience, Secure More Business

The ease of use OC Correspondent provides makes it very simple for lenders to do business with you, and as a result they will be more inclined to become a long-term partner. Sellers can visit the seller-facing web portal, which is tailored to your company’s unique brand, and quickly submit loans for review and acceptance. Full pipeline management is provided, real-time status, imaging and document management, lock notifications, enhanced visibility and more.

Quick, Easy Implementations

We configure OC Correspondent to your unique workflow, train users and takes you live in about 45 – 60 days, depending on customization needs. And, end users don’t need much experience in correspondent lending to quickly become familiar with our software and begin leveraging its power. All user screens are very intuitive and completely workflow-driven, eliminating manual touch points.

Standalone Module or Integrated with OpenClose's LOS

The OC Correspondent module can function completely as a standalone mortgage technology application, and it also integrates tightly with OpenClose’s multi-channel loan origination software, LenderAssist™. Conduit aggregators are increasingly turning to OpenClose to utilize the platform as a standalone system to efficiently buy closed loans, many of which leverage it to help launch completely new operations.

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