OpenClose Releases Version 4.0 of its OC Optics ™ Web-based Enterprise Analytics and Reporting Module

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FOR IMMEDIATE RELEASE

WEST PALM BEACH, Fla. May 14, 2015 – OpenClose, an enterprise-class, multi-channel end-to-end loan

origination system (LOS) provider, announced that it has released version 4.0 of OC Optics™, a web-based

analytics and reporting system that integrates tightly with its LenderAssist™ LOS platform. The

enhancements provide clients with more control, added functionality, and robust editing and configuration

tools that effectively customizes data analysis and reporting outputs.

OC Optics 4.0 provides detailed analytics and up-to-the-minute reporting using an easy-to-configure

dashboard-level user interface, which has been significantly enhanced to empower clients with more editing

and report creation tools while becoming more self-sufficient. Using OC Optics 4.0, lenders can view all

metrics in a single graphical interface from multiple sources such as production, secondary marketing

underwriting, processing, closing, post-closing, accounting, etc.

The module utilizes business critical data to produce rich graphs, charts, performance management

tools and more. As a result, organizations are able to execute intelligent, profitable business decisions while

managing risk across the enterprise including other locations and branches.

Michael Luu, EVP of national production at Residential Bancorp, commented: “OC Optics has proven

to be a critical enterprise management tool for our business. The system enables us to efficiently analyze

and slice data across multiple origination channels. The extracted data helps us make better, more informed

and faster decisions, and automatically deliver essential business management reports on a predefined

schedule.”

Version 4.0 of OC Optics allows permissioned users to leverage the multi-channel capability of

OpenClose’s LenderAssist LOS to separately analyze various activities occurring in retail, wholesale,

correspondent and consumer direct lending channels. Detailed reports can be created for any business

channel as well as specific functions and processes within those channels.

“Often, important information is trapped in Excel spreadsheets located in various functional areas

within an organization, which renders it either useless or onerous to make sense of for business decisions,”

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said Vince Furey, SVP of lending solutions at OpenClose. “One of the biggest advantages of OC Optics is that

it provides clients with more autonomy and options to easily tap into information to create custom reports

in the form of charts, graphs, dashboards and individual reports.”

Directly from the dashboard, users are able to extract key information and populate it into a useful

reporting presentation format that provides enterprise-wide management metrics and performance

reporting from all desired business areas. This provides management with the oversight and intelligence to

fully understand departmental and employee productivity and shows where areas for improvement and

greater profitability can be realized.

OC Optics 4.0 can be accessed via any web browser, tablet device or smart phone. The system

combines highly configurable management dashboard tools that integrate seamlessly with OpenClose’s

LenderAssist™ LOS to optimize the use of captured data.