Alliances and Partnerships, Business, Free News Articles

Global DMS and OpenClose Jointly Announce Integration of Their Platforms

LANSDALE, Pa. -- Global DMS, a leading provider of cloud-based compliant valuation management solutions, and OpenClose, a comprehensive mortgage software solutions provider, jointly announced that they completed a seamless, bi-directional interface between Global DMS' eTrac Enterprise valuation management platform and OpenClose's LenderAssist(TM) loan origination system (LOS). The new integration eliminates manual touch points, reduces costs and ensures appraisal compliance.

"Directly from within OpenClose's LenderAssist LOS, this integration allows users to tap key functionality in our eTrac Enterprise platform," said Vladimir Bien-Aime, president and CEO of Global DMS. "Unlike appraisal ordering systems that just place orders, Global DMS has a completely workflow-driven, robust valuation management platform that automates all of the intricacies involved in the appraisal process from start to finish, which OpenClose customers can now leverage in a seamless fashion."

Using the integration, lenders are able to efficiently order appraisals, check real-time status, receive appraisal files back into OpenClose's LOS, and compliantly submit them to the Uniform Collateral Data Portal (UCDP) or Electronic Appraisal Delivery (EAD) portal. This completely streamlines data exchange and communication between the two platforms and speeds up the entire process. Global DMS provides OpenClose customers with detailed reports for audit tracking and visibility over their appraisal processes.

"We want our customers to benefit greatly from the integrations we establish, so we are very discerning when selecting new technology vendors to integrate with," said Jason Regalbuto, CEO and CTO of OpenClose. "Global DMS' solution is one of the leading single-source valuation management platforms in the mortgage industry and we are extremely pleased to have them as a new integration partner."

There are numerous appraisal management companies (AMC) that already leverage Global DMS' eTrac platform to support their lender customers. Those lenders can now work with their AMCs via OpenClose's LOS. Or, lenders that manage their appraisal panel in-house can use the direct system-to-stem integration to fully automate their unique processes.

Global DMS and OpenClose both have web-based platforms and provide them on a software-as-a-service (SaaS) basis along with the flexibility to easily configure the solutions to meet their customers' specific requirements. As a result, implementations are quicker, easier and more cost effective.

About Global DMS(R):
Founded in 1999 and headquartered in Lansdale, Pennsylvania, Global DMS is a leading provider of commercial and residential real estate valuation solutions catering to lenders, servicers, AMCs, appraisers and other real estate entities. The company's solution set is cost effectively delivered on a Software-as-a-Service (SaaS) transactional basis that ensures compliance adherence, reduces costs, increases efficiencies and expedites the entire real estate appraisal process. The product line-up includes its eTrac(R) valuation management platform, eTrac Web Forms, Global Kinex, AVMs and data analytics products, BPO management platform, the MISMO Appraisal Review System (MARS), ATOM (Appraisal Tracking On Mobile) and AMCmatch.com.

For more information, visit the company's website at http://www.globaldms.com/ or call (877) 866-2747.

Global DMS Twitter: https://twitter.com/globaldms

About OpenClose(R):
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading multi-channel mortgage software solution provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose's core solution, its LenderAssist(TM) LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence.

For more information, visit http://www.openclose.com/ or call (561) 655-6418.

OpenClose Twitter: https://twitter.com/openclosesocial

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles

OpenClose’s Multi-Channel LOS and Correspondent Platform Fuels Record Company Growth

WEST PALM BEACH, Fla. -- OpenClose, an enterprise-class loan origination system (LOS) provider, reports that it is experiencing the highest level of growth in company history. The company attributes the bulk of its growth to an increasing demand for its comprehensive LenderAssist(TM) LOS that has true multi-channel capability along with its turnkey correspondent module, OC Correspondent(TM).

OpenClose's revenue growth for the last few years has been in the mid-20 percent range year-over-year, while 2015 to 2016 the company realized an unprecedented 30 percent growth rate.

To handle the ongoing expansion, OpenClose has been strategically adding resources to its existing strong infrastructure to effectively on-board, implement, train and support new customers. The company hired additional employees who possess deep mortgage technology experience ranging from senior developers to implementation specialists, project managers and technical support representatives. This allows the company to manage growth at a healthy, controlled rate while maintaining its high customer service standards.

"The last few years have just been remarkable in terms of the number of new customers we have brought on board and how quickly we're able to implement them," said JP Kelly, president of OpenClose. "Our unique, boutique-style customer support model has been a key component to customer acquisition and retention. It's a very hands-on and responsive approach, unlike many of the larger LOS vendors that have long implementations, insufficient training, and often poor technical support. This model has served us well and is a key competitive differentiator."

OpenClose implemented a number of large mortgage banking customers that are originating sizeable loan volume. The company also established a new inside sales force that has been very successful in sourcing new deals for the outside sales executives.

Kelly added: "At OpenClose, we are always innovating, developing new solutions, and enhancing our platform. We're a privately owned and operated company that is nimble and entrepreneurial. We listen to our customers; they come up with some of our best ideas, and they love our personalized way of helping them succeed with their business. We don't treat customers as just another number like some larger vendors do, many of which acquired too many technology vendors with disparate technologies that are often difficult to support and train on."

The multi-channel LOS empowers lenders to easily add new business channels or grow existing ones. Also, attractive to lenders is that the LenderAssist LOS is completely browser-based and can be accessed from anywhere with an internet connection at any time. Further, the workflow-driven platform can be custom-configured to a lender's specific internal processes, which OpenClose implements for its customers. Implementations can be achieved in as little as 45 to 60 days depending on the level of customization and business channels required by the lender.

OpenClose's LenderAssist LOS platform is in use by medium and large size lenders, banks and credit unions and its standalone OC Correspond module is being leveraged by firms to buy closed loans. The company has offices in West Palm Beach, Florida and Gig Harbor, Washington.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading enterprise-class, multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent web-based solutions for lenders, banks and credit unions.

OpenClose's core solution, its LenderAssist(TM) LOS, is comprehensive platform that is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creating a truly seamless workflow for complete automation and compliance adherence.

For more information, visit http://openclose.com/ or call (561) 655-6418.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

This news story was published by the Neotrope® News Network - all rights reserved.

Awards and Honors, Free News Articles

OpenClose President JP Kelly Named to HousingWire’s 2016 Vanguard Award List

WEST PALM BEACH, Fla. -- OpenClose, an enterprise-class, multi-channel loan origination system (LOS) provider, announced that HousingWire honored its president, JP Kelly, with its second annual Vanguard Award. The list recognizes highly successful executives who are making a positive difference in their respective fields across the mortgage industry.

"The HW Vanguards continued to impress going into its second year; the winners are second-to-none and this list represents the finest cross section of mortgage talent available," said Jacob Gaffney, HousingWire editor-in-chief.

Winners were comprised of demonstrated leaders in the housing industry, achieving success that has impacted not only the members of individual organizations, but also the entire industry. The program recognizes C-level and business unit executives who have become leaders in their respective fields within housing and mortgage finance - those whose leadership is moving markets forward, each and every day. HousingWire states that it sets an extremely high bar for choosing its second annual list of HW Vanguards, which is a very competitive contest.

Key reasons that Mr. Kelly made the Vanguard Award list is the immense success that OpenClose has been experiencing with its multi-channel LenderAssist(TM) LOS and turnkey OC Correspondent(TM) module. Under Mr. Kelly's leadership, OpenClose continues to grow at a rapid rate with lenders, banks and credit unions adopting its comprehensive LOS platform that fully automates all lending channels. The company also has a significant number of mortgage lenders and conduit aggregators that started leveraging its correspondent technology.

Several industry LOS technology studies and surveys have repeatedly scored OpenClose as being a leader in successful implementations, ease of system use, depth of functionality, innovation, responsive technical support, overall satisfaction, and customer retention, among other areas.

"I am honored to have been chosen as a Vanguard Award winner; it speaks volumes about the success OpenClose has had in recent years," stated JP Kelly, president of OpenClose. "We have been at the forefront of web-based LOS technology since our inception in 1999. The impetus behind OpenClose's success is really the result of our extremely dedicated, passionate, customer-focused employees who possess both mortgage lending and mortgage technology experience."

Vanguard Award Stats:
* 40 winners in total
* Second annual list
* Winners were chosen by the HousingWire editorial board based on tangible leadership within their companies and the industry at large
* All winners are executives, most being of the C-level suite
* 23 of the winners serve as president or CEO of their company
* The list also includes a COO, an executive director, a division president, seven EVPs and an SVP
* Eight of the winners are the founders of their company.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(r) is a leading multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions.

OpenClose's core solution, its LenderAssist(TM) LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call (561) 655-6418.

About HousingWire:

HousingWire.com is the leading independent source for news, commentary and analysis covering the entire mortgage banking and financial markets. Staffed by a core team of experienced journalists and editors, HousingWire.com delivers breaking news and opinions on U.S. housing and mortgage finance. HousingWire.com has a well-developed reputation for delivering today the news other trade outlets will be reporting on tomorrow - and our readers value the information they get from www.housingwire.com first.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

This news story was published by the Neotrope® News Network - all rights reserved.

Free News Articles, Internet and Websites

OpenClose and MCT Streamline the Loan Sale and Purchase Advice Process for Secondary Marketing Departments

NEW YORK, N.Y. -- MBA National Secondary Market Conference & Expo - OpenClose(R) an enterprise-class, multi-channel loan origination system (LOS) provider, announced that in conjunction with Mortgage Capital Trading, Inc. (MCT) it has developed a solution that normalizes and extracts a lender's committed loan sale and purchase advice data to be uploaded directly into OpenClose's LenderAssist(TM) LOS, thus eliminating significant manual intervention. Depending on the number of loans that have been executed, time savings can be reduced from days to minutes.

"We use MCT as our secondary marketing advisory firm and OpenClose as our LOS provider. The solution they jointly developed empowers us with an invaluable tool to slash the amount of time it used to take us to rekey committed loan data and purchase advice information from Fannie Mae," stated Dan Beam, senior vice president of capital markets at Firstrust Bank. "Given the number of trades we are doing in a particular week, the automation of this process can easily shave off what previously required dozens of man hours down to just minutes."

The solution works by MCT converting large committed loan sale reports or purchase advices into normalized datasets, which is then automatically transmitted to the lender for easy upload into OpenClose's LenderAssist(TM) LOS. All of this transpires with the simple click of a button.

"We want to do whatever we can to make our customers' jobs as easy as possible and this new capability delivers a tremendous uptick in efficiency, saving secondary marketing departments inordinate amounts of time which in turn reduces costs," says JP Kelly, president of OpenClose. "Whether our mutual customers upload a few dozen loans at once or hundreds of loans, it takes a fraction of the time it used to."

"MCT is committed to providing innovative solutions with our technology partners that enable work efficiencies and cost savings for our mutual clients. This interface delivers on that promise," says Chris Anderson, chief administration officer at MCT.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose's core solution, its LenderAssist(TM) LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit http://www.openclose.com/ or call (561) 655-6418.

About MCT:

Mortgage Capital Trading (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, California in May 2001, the company has expanded to include field sales and support offices in Philadelphia, Dallas, San Francisco and Charlotte. MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program. The company also develops and supports MCTlive!(TM), an award-winning real-time, trading and best-execution secondary marketing platform. MCT's LockCentral(TM) is the industry's largest outsourced centralized lock desk service. For more information, please visit http://www.mct-trading.com/ or call (619) 543-5111.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

This news story was published by the Neotrope® News Network - all rights reserved.