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Freddie Mac PMMS: Mortgage mortgage rates recede this week

National Mortgage Professional
Apr 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
Apr 15, 2009
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