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Was there (Another) LOS merger?


With all the M&A activity in the Loan Origination software arena, it feels like Mortgage LOS vendors change their names more than a movie marquee. Making you wonder, which lenders will be left without a seat?

The LOS space continues to see M&A activity occur, leaving lenders in a state of flux. After these transactions occur, the message to clients is always: Business as Usual.  But that is rarely the case. Will their LOS be supported?  Merged with another? Discontinued all together?

Just ask around and you’ll hear the “war stories.” All too often customer support is compromised, innovation is stifled, system enhancements come to a crawl, and the prospect of the acquiring company letting the LOS die on the vine is a distinct possibility.

If you’re concerned with your LOS vendor’s long-term stability, take a look at OpenClose.  Founded in 1999, OpenClose remains under the same private ownership, runs a highly service-oriented customer support structure, and handles the legwork of implementations for lenders.

OpenClose offers 100% web-based, multi-channel LOS for the wholesale, retail, correspondent, and consumer channels. Whether you’re a lender, banker, or credit union, there’s an OpenClose custom-configuration for your specific way of doing business.

Nothing Comes Close to OpenClose’s LenderAssist™ LOS, Customer Support Model, and Company Structure:

  • 100% truly SaaS and browser-based LOS; NO installs whatsoever

  • Comprehensive multi-channel capability via a centralized platform

  • Intuitive and easy-to-use

  • Swift, easy implementations – we do the “heavy lifting” for you

  • Robust analytics reporting and dashboards

  • Flexible workflow configurations with the ability to add custom work queues

  • Customized pricing sourced from your investors and integrated into the LOS

  • System-to-system integrations with leading 3rd party technology vendors

  • Same ownership since 1999 with a long-standing management team