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Top Six Reasons Why More Lenders Are Choosing OpenClose’s Mortgage Tech

How the right LOS and POS systems can better your bank or credit union.

Author: Vince Furey

Any successful mortgage lender knows that enhancing operations comes down to two things: configurable technology and the level of expertise their experts can attain using the system. Putting cutting-edge software in place that addresses the specific steps of your business flow will help your institution work faster and be better. Or, as we say at OpenClose – allow you to open smarter and close faster!

Each time we are selected by a new customer, we poll the bank or credit union for the reasons why they left their old mortgage technology provider and chose OpenClose as their True Mortgage Technology Partner.

Here’s what we learned – efficiencies matter…always, but now more than ever! Lenders are facing a challenging time and a potentially difficult cycle, so it’s critical that the technology they choose and the support team that comes with it will make their entire team better and provide a seamless process for their borrowers and members.

But there’s more!

Lenders want the right tech at the right price, but they also want the right service. It’s not just about the ability to plug and play, it’s about so much more, like access to help when it’s needed, measuring success with granular analytics along the way, and the ability to add features that will help close loans faster.

As the mortgage market begins tightening and lenders adjust to a volume story that differs greatly from 2020, 2021 and even Q1 2022, having the right tech stack in place will be a critical element for those who succeed.

Here are SIX TOP reasons why more and more banks, credit unions and mortgage lenders are turning to OpenClose for their mortgage lending technology:

#1: We provide a single, comprehensive solution.

OpenClose offers customers one platform for Web, POS, PPE, LOS, imaging, OCR and BI – a feature you won’t often find with other mortgage tech providers. With OpenClose, you can automate your mortgage workflow entirely in one, omnichannel solution that enhances your efficiencies and enables your bank or credit union to do more with less.

#2: We’re a cutting-edge, browser-based tech stack.

OpenClose software is built on a 100% browser-based, modern .NET, meaning your team can take advantage of the flexibility and scalability of a micro-services tech stack. It’s a top-of-the-line feature that enhances functionality to the point where lenders say once they’ve experienced it, they’ll never go back.

#3: We deliver a partnership.

We’re not just a vendor, we’re a partner. At OpenClose, we pride ourselves on being accessible and responsive, providing customers with smart support from actual mortgage experts.

#4: We offer critical insights with business analytics.

Reviewing business performance is a key element to improving it, so the ability to generate quick, comprehensive analytics that offer valuable insights is another thing our customers like best. With smart business intelligence powering your growth, lenders can be sure that their team is moving in the right direction at industry-leading speeds.

#5: We grant access to your pipeline on the go.

The days of working at your desk from 9 to 5 are long gone, and today’s lenders want their team to have easy access to their systems no matter where they are. So, beyond our 100% browser-based, no-install solution, the OpenClose Suite enables quick access to your loans anytime, anywhere, so your loan officers can have access to the information they need in order to close faster.

#6: We offer Growth-Friendly Pricing™.

At OpenClose, we prioritize our customers – even when it comes to pricing. We’re here for you whether you’re shrinking in a tough market or reaching new heights when the good times are rolling. And that’s why we have created a best-in-class pricing model that gives you the ability to grow (both your users and your loan volume) when needed, and then contract (not below contracted minimums), and then grow again – without holding you to those new minimums based on the caps you experienced during business peaks or swells. No one else in the mortgage tech space, right now, is offering their customers this level of pricing flexibility – and that’s something we at OpenClose are proud of.