It’s the age old mortgage banking question: buy mortgage loan origination software that’s off-the-rack or build it in-house?
The way people evaulate mortgage technology has changed vastly over the years. Off-the-rack software packages were popular when the only functionality bankers cared about was loan origination. Many still use broker software as it was the only choice.But today’s mortgage lenders want an end-to-end solution and many of the pre-packaged solutions simply don’t offer that. And one that was designed for mortgage banking.
The cost to develop software continues to rise and custom-built software often takes years. Once built they are usually obsolete. And making any change afterwards usually takes too long and costs more in the long run.
Fortunately, today there’s a third choice. A mortgage lender can get mortgage loan origination software that is ready to use but also completely cuistomizable to adapt to their loan flow. And that choice is OpenClose.
OpenClose offers loan pricing, loan origination and all mortgage banking functionality through post closing. It’s an all web-based mortgage software that easily adapts to the way you do business. So don’t live with an off the rack solution if it doesn’t let you move loans like you need it to. Use OpenClose.