OpenClose, MeridianLink partner to provide complete credit capabilitiesMortgagePress.comOpenClose, MeridianLink, LOS, credit reporting agencies, Rob Pommier, MeridianLink MCL interface, LION Inc.
OpenClose Solutions, developers of Web-based, end-to-end
mortgage lending software, has partnered with Costa Mesa,
Calif.-based MeridianLink to interface the company's
MortgageCreditLink (MCL) with OpenClose's loan origination software
(LOS), OpenClose.
MeridianLink and OpenClose will enable brokers and wholesale
lenders to request and access credit information from any Internet
connection and deliver merged credit reports from more than 50
credit reporting agencies (CRAs), shortening the pre-qualification
process. Now wholesale lenders and brokers can have access to the
same credit data, enabling them to make more sound underwriting
decisions along with faster pricing and qualification. Lenders and
brokers using OpenCloses LOS can then directly import the credit
information directly into the software, eliminating duplicate data
entry.
"With OpenClose's expansion into broker services, being able to
quickly pull and import credit information is a vital task," said
Rob Pommier, senior vice president of sales at OpenClose. "Brokers
want once source for completing an application, and MeridianLink
provides a secure system that runs seamlessly with OpenClose. The
partnership will shorten the time originators spend preparing loan
files and eliminate re-key errors with one end-to-end data stream
from the credit report to the closing with wholesale lenders."
OpenClose expanded their Web-based, end-to-end LOS to connect
the broker with mortgage bankers through their recent acquisition
of LION Inc. The expanded service gives lenders and brokers a
single tool to handle every task in the loan life cycle from
consumer to secondary market. Expanded credit report and CRA access
will also be available in LION as the LOS will also employ the
MeridianLink MCL interface.
For more information, visit www.meridianlink.com, www.openclose.com or www.decisionassist.com.
