Freddie Mac PMMS: Mortgage mortgage rates recede this week

Freddie Mac PMMS: Mortgage mortgage rates recede this week

April 15, 2009

OpenClose releases web-based, end-to-end mortgage software for credit unionsMortgagePress.comOpenClose, mortgage lending software, MemberAssist, credit unions, AssistSeries
OpenClose, developers of Web-based, end-to-end mortgage lending
software, has announced the release of MemberAssist, a new mortgage
software platform developed specifically for credit unions.
MemberAssist is the newest addition to OpenClose's recently
released AssistSeries, a fully integrated suite of mortgage
software that automates loans from first contact with the borrower
to post-closing.
To take advantage of borrowers' increasing comfort with
initiating real estate and loan transactions online, MemberAssist
provides credit unions the tools to push information to members and
prospective borrowers through online channels. The credit union
software, which can be configured as stand alone retail Web site or
integrated into the credit union's existing Web site, pushes
consumer friendly mortgage information, calculators and reference
materials to prospective borrowers. The system reduces data entry
and lost sales leads by taking information submitted and
integrating it into OpenClose's loan origination software
(LOS).
"Credit union members are seeking information about mortgage
loans, refi rates and products online," said J.P. Kelly,
OpenClose's president of operations. "MemberAssist enables credit
unions to provide the information their members need while also
giving them an outlet to initiate loan applications online."
MemberAssist can be configured to meet the specific needs of any
size credit union and can be designed to reflect a company's
individual brand. It provides members with an initial information
portal to explore all available products and loan rates, and for
those members interested in applying for loans, online mortgage
applications.
MemberAssist also integrates with OpenClose's new AssistSeries,
a mortgage software platform designed to provide mortgage
professionals with a suite of mortgage products designed to help
them attract and service customers while managing their loan
process from loan origination to post-closing.
The AssistSeries products made available to credit unions
consist of:
• ConsumerAssist: An advanced suite of Website
products;
• DecisionAssist: An enterprise level Web-based loan pricing
and eligibility engine available in three configurations and
• LenderAssist: A Web-based loan origination software (LOS)
that combines traditional LOS capabilities with additional core
lending tools, such as pipeline management, mortgage processing,
underwriting, closing, secondary marketing, accounting,
post-closing and imaging.
"Today's marketplace offers narrower margins on mortgages, so
credit unions must originate and close each loan as efficiently as
possible to maximize volume," said J.P. Kelly, OpenClose's
president of operations. "MemberAssist enables credit unions to
increase efficiencies in the lending process by integrating member
application data into the same system used to process the loan.
Preparation time is reduced, while security and profitability are
maximized."
For more information, visit www.openclose.com.

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