Mortgage Market Index Enhanced With OpenClose Data

WEST PALM BEACH, Fla. and DALLAS, Texas July 15, 2015OpenClose®, an enterprise-class, multi-channel, end-to-end loan origination system (LOS) provider, announced that it is now delivering weekly data for the U.S. Mortgage Market Index, an indicator of upcoming mortgage originations that is published by Mortgage Daily, a leading online news and data source for the mortgage industry.

“The industry has come to rely on the Mortgage Market Index to monitor rate movement, products, statistics and trends in residential mortgage lending,” said Vince Furey, SVP of lending solutions at OpenClose. “We are excited to partner with Mortgage Daily and serve as their trusted source to provide highly accurate data for the Mortgage Market Index.”

Among OpenClose’s solution suite is DecisionAssist™, a robust product and pricing engine (PPE) that works with its LenderAssist™ LOS platform.  OpenClose employs a managed services team of experienced mortgage business analysts who maintain an extensive library of up-to-date investor guidelines and pricing on a daily basis.  Mortgage Daily will tap a data feed from OpenClose to power the Mortgage Market Index.

“OpenClose is an established, proven provider of mortgage lending technology solutions, and we are pleased to leverage their market intelligence to produce the weekly Mortgage Market Index report,” Sam Garcia, founder and publisher of Mortgage Daily, stated.  “Their monitoring and collection of real-time market data enhances the index with more robust information.”

Mortgage Daily’s Mortgage Market Index is offered as a free service and can be found each week along with historical data here: www.mortgagedaily.com/MortgageMarketIndex.asp.

About OpenClose
Founded in 1999 and headquartered in Palm Beach, Florida, OpenClose® is a leading end-to-end loan origination system (LOS) provider that delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of browser-based lending automation solutions for lenders, banks and credit unions of all sizes. OpenClose’s LOS is completely engineered by the same company, thus avoiding assembling best-of-breed applications or acquiring technologies in an effort to create an end-to-end platform.  The company focuses on providing lending organizations with full control of their data and creating a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call (561) 655-6418.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com