OpenClose’s Multi-Channel LOS and Correspondent Plat form Fuels Record Company Growth
WEST PALM BEACH, Fla., Feb. 1, 2017 – 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™ LOS that has true multi-channel capability along with its turnkey correspondent module, OC Correspondent™. 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.
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® 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™ 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 www.openclose.com or call (561) 655-6418.
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