OpenClose Mortgage Software Integrates Zillow® Mortgage Quote API

WEST PALM BEACH, FL — 07/29/10 — OpenClose Mortgage Software announced it has integrated its Decision Assist loan pricing engine with the Zillow Quote application programming interface (API). Now OpenClose’s participating lender clients can provide live mortgage rates through the Zillow Mortgage Marketplace. OpenClose lending clients can now instantly reach thousands more potential borrowers and loan officers by providing their rates through Decision Assist’s accurate data feed seamlessly through Zillow.

Zillow.com® is an online real estate community for homeowners, buyers, sellers, real estate agents and mortgage professionals. By integrating with the Zillow Quote API, potential borrowers using Zillow Mortgage Marketplace receive the full set of lender details and rates fed from the Decision Assist loan pricing engine. The process is instantaneous and displayed to the borrower in seconds. Decision Assist expedites the process for a credit union, community bank, or mortgage company that wants to participate in the Zillow Quote API while providing a loan pipeline for its users and route leads to the desired branch or loan officer through workforce queues.

“This integration between Zillow and OpenClose creates the opportunity for all lenders to participate in the online web lead explosion — not just the largest ones,” said Jason Regalbuto President, OpenClose. “So many consumers choose Zillow as their first stop for loan pricing. By choosing our feed, a lender will get a leg up on the competition with loan pipeline management and advanced reporting tools.”

The Zillow integration is similar to the Google Content Ads integration OpenClose established earlier this year. And like the lenders who selected OpenClose to provide their loan data feed, the lenders that receive interest from online borrowers from Zillow/OpenClose can immediately funnel that contact directly into its LOS. Borrowers, in turn, benefit from the accurate transfer of data and elimination of repetitious questions and requests. Zillow created the Zillow Quote API to simplify the desire for lenders to provide custom quotes to borrowers.