blog.openclose.comMortgage Loan Origination Software and social media and for Financial Institutions

phone 561-655-6418 Facebook Twitter LinkedIn SOLUTIONS End-to-End LOS Platform Product & Pricing Engine Correspondent Module Consumer Direct Analytics & Reporting Multi-Channel Platform SERVICES Implementation Training & Support RESOURCES System Integrations Become a Partner Subscribe NEWS & EVENTS Press Releases Media Center Trade Shows BLOG COMPANYWhy OpenClose Executive Team Careers Contact Request Demo Mortgage Loan Origination Software (LOS) Mortgage Banking COVID-19 Strategy: Is the Best Direction with Our Heads in the Clouds? Posted by Frank Bocchino on Tue, Apr 07, 2020 Tweet Working from home offers many benefits: from overhead cost-cutting to providing improved employee productivity and morale. According to one study , 85 percent of businesses confirm that productivity has increased in their business because of greater flexibility. What’s more, 63 percent of those surveyed report at least a 21 percent improvement in productivity because of flexible working. This flexibility to work from home, not only makes workers happier ( Owl Labs found full-time remote workers reported being happy in their jobs 22 percent more than workers who are never remote), but hopefully healthier. Recent events have added a new caveat: working from home reduces interpersonal contact, mitigating the spread of dire illnesses like the Coronavirus. It should go as a surprise to no one then, that Software as a Service (SaaS), which allows for individuals to access their necessary software from any internet accessible location, is already a staple for many businesses and is expected to explode in usage. As a show of unity, the 2020 Software as a Service Awards program announced it will donate part of its proceeds to the World Health Organization’s COVID-19 Solidarity Response Fund. "With the global rise of COVID-19, it’s important that organizations worldwide consider the technology to let staff work from home,” said James Williams of the Cloud Awards. ”[It] is now an essential weapon in the fight to contain the virus …helping shield anyone with a ’desk job’ from the risk this global pandemic represents.” Past the current pandemic preparedness strategy, SaaS solutions provide tangible benefits for employees and organizations that move to the cloud. And these are no more evident than for mortgage lenders, community banks, and credit unions. SaaS-based mortgage loan origination software (LOS) centralizes a mortgage lender’s system of record. By doing so, organizations with multiple locations in multiple cities and states can evenly distribute the workload of loan processors, mortgage underwriters, and any authorized user who touches the loan. The digital mortgage with e-signatures replaces the need (not requirement) for in-person meetings. The addition of a front-facing web-based point-of-sale (POS) gives that same flexibility to home buyers as well as a wealth of information they need to make informed decisions (such as). The end results? Happier borrowers, lower cost operations, faster closings and more closed loans. Curious to hear how our lender clients are faring during the pandemic? Contact us for client testimonials who can provide their experiences. At OpenClose, we’re confident that we will get through this together. We believe soon things will be looking up. And so should you – to the cloud. 0 Comments Click here to read/write commentsTopics: mortgage loan software , SaaS , Web-based Mortgage Software Who are the Top Mortgage Employers for 2020? Posted by Frank Bocchino on Tue, Mar 24, 2020 Tweet Each year, National Mortgage Professional Magazine selects a list of Top Mortgage Employers . The mortgage banking publication polls readers about their employers based on the following criteria: Compensation, Speed, Marketing Support, Technology, Corporate Culture, Long-Term Strategy, Day-to-Day Management, Internal Communications, Training Resources, Industry Participation, and Innovation. The 2020 list is out, and we are proud to announce that OpenClose was named to the list for the fourth year in a row! What criteria do you use when selecting a mortgage technology provider? According to its Top Mortgage Employers selection process, NMP weights factors that are more important to its readers. For example, corporate culture was determined to be very important. As mortgage loan origination system (LOS) developers, OpenClose distinguishes itself through personalized customer service and mortgage banking industry-leading technology, but we give much of the credit for the customer praise to our exemplary staff - many of whom come from mortgage banking backgrounds. They often know what mortgage professionals need in an LOS because they’ve often been the ones originating, processing closing and/or funding the loan. We are pleased to again earn a spot as a 2020 Top Mortgage Employer by NMP,” said JP Kelly, president of OpenClose. Our employees have rich backgrounds working in the mortgage industry and tend to be out-of-the-box, solution-oriented thinkers who go above and beyond to help customers be as successful as possible by leveraging our software. We’re lucky to have assembled such a stellar team of passionate, driven, dedicated employees.” To read more, check out the press release here . 0 Comments Click here to read/write commentsTopics: Loan Origination software , Loan Origination system , Web-based Mortgage Software Using Digital to Improve the Customer Journey Posted by Frank Bocchino on Tue, Aug 27, 2019 Tweet According to a new study by STRATMOR Group , a data-driven advisory that guides lenders and vendor clients alike lenders perceive increased borrower satisfaction” as the top benefit of pursuing digital advancement with their loan processes. The study concludes that the top three benefits (i ncreased borrower satisfaction, f aster cycle times, and i ncreased transparency for borrowers) are all tied to the borrower experience. OpenClosea pioneer in SaaS-based computer and now the digital POS continues its efforts to improve conversion rates while enhancing the customer experience through its digital mortgage efforts. Ask us for more information or click below to schedule a demo and see what’s changed since you last saw OpenClose. 0 Comments Click here to read/write commentsTopics: OpenClose Mortgage Software , POS , Digital Mortgage Digital Mortgage: New Buzzword, Not New to Us Posted by Frank Bocchino on Tue, Jun 25, 2019 Tweet Digital Mortgage: it’s the new buzzword everyone’s using. But at OpenClose, we’ve been using it from the start. Why? We’ve always been digital. In fact, we helped pioneer it along with SaaS (yep, we were one of the first in the mortgage industry to do that too) What’s the expression? It ain’t bragging if it’s true? And we keep pioneering the mortgage loan origination software with our multichannel offerings. We keep adding all the integrations. We keep making the digital mortgage better. Take a look what we have to offer. You’ll be glad you did. 0 Comments Click here to read/write commentsLoan Origination Software: Are You Suffering from "Mergerphobia"? Posted by Frank Bocchino on Fri, Jun 07, 2019 Tweet Recent LOS Acquisitions in Mortgage Loan Origination Software have left Lenders asking… Where Does This Leave Me as a Customer? Sure, the post-acquisition message to customers is always:Business as usual…Nothing will change and you’ll be well-supported.” But any lender who has lived through it will attest, it’s not always the case. Mergerphobia is real, so take a look at OpenClose. If you’re a lender that has had LOS bombshell news dropped on you in the past year, you’re right to be concerned about the future of your mortgage business workflow as your favorite functionality may disappear in favor of consolidation. Founded in 1999, OpenClose remains under the same private ownership, runs a highly service-oriented customer support structure, and handles the heavy lifting of implementations for lenders. OpenClose offers a 100% web...