Sabadell Bank Experiences Major Success with OpenClose’s LenderAssist™ LOS

MIAMI, Fla., Aug 9, 2016 – Headquartered in Miami, Florida, Federally chartered Sabadell United Bank, N.A. currently operates 23 locations, services more than 40,000 customers, and has over 700 employees.

In growth mode, it needed a lending origination software that could be easily implemented, custom-configured to their specific workflow, flex with operational changes, and scale with them as they expand. And one that was fully compliant with the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB), the QM/ATR rule, the TILA- RESPA Integrated Disclosure (TRID) rule, and state-based rules. It chose OpenClose as its solution provider.

Key Results:

  • Volume grew by more than 500%
  • Cycle times were reduced by 20%
  • A consistent, 25 day loan closing process was achieved
  • Implemented the entire system in under 45 days

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