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OpenClose - MeridianLink Mortgage Technology Innovation Blog Hero

OpenClose to Bring Accelerated, Frictionless, and Comprehensive Innovation to Mortgage Technology

With its acquisition by MeridianLink®, customers gain access to cutting-edge resources that can propel their businesses forward and further benefit their borrowers and members.

The acquisition of OpenClose by MeridianLink® represents a new dawn for OpenClose customers­­ with ample tools to thrive via the innovation and support granted by MeridianLink and its wealth of resources. The acquisition also ushers in a new era for lending technology that will benefit the entire mortgage lending community by combining the knowledge, technology, and many years of expertise that both teams now bring to the table.

For lenders, this innovation is especially significant in today’s mortgage climate since it helps financial institutions (FIs) enhance efficiencies, reduce loan manufacturing costs, and reduce processing and underwriting cycle times—which are always important but become especially crucial when margins and labor are tight. This benefits banks, credit unions, and mortgage lenders whether one chooses to work with the OpenClose or MeridianLink system, as both will continue being offered as separate solutions and evolve separately due to financial investment in both systems.

Here’s how this partnership will immediately accelerate comprehensive and frictionless innovation for banks, credit unions, and independent mortgage banks:

  • MeridianLin® Mortgage clients can access the OpenClose POS system, ConsumerAssist, which offers borrowers a superior experience and industry-leading application-to-decision rate
  • OpenClose LOS customers can leverage the MeridianLink PPE, which offers richer pricing options and features like parallel mortgage insurance pricing, an integrated fee engine, and loan comparison reports

Ultimately, It’s About Commitment to Each System, and MeridianLink CEO Nicolaas Vlok Is All-In

As Nicolaas Vlok said, “Combining the strengths of our organizations is great for the industry as we further enable our customers to deliver fast, frictionless mortgage lending experiences from application to closing. This acquisition ensures that all customers can be confident that they have a comprehensive, premier mortgage solution in whichever offering they choose and that we will continue to invest in both offerings as we evolve the products to incorporate the best capabilities of each.”

To learn more about OpenClose and our award-winning, industry-leading mortgage technology solution suite, please visit: