OpenClose Adds Rate Sheet Generator to DecisionAssist – NMP Skip to main content

OpenClose Adds Rate Sheet Generator to DecisionAssist

NationalMortgageProfessional.com
Sep 29, 2016
OpenClose has announced that it has redesigned and added new features to its borrower-facing ConsumerAssist solution

OpenClose has announced that it has added a rate sheet generator to its product and pricing engine (PPE), DecisionAssist. The new functionality quickly and efficiently automates rate sheet creation for timely distribution to branches and originators.

The rate sheet generator empowers lenders with straightforward point and click capability to set up programs and map products themselves without OpenClose assistance. Lenders are also able to add or remove investors as needed, and investor programs can be white-labeled or displayed, depending on lender preferences. DecisionAssist keeps pricing up-to-date in real-time to ensure that all loans are priced with precision-based accuracy. Best execution can be run on all investor products simultaneously, which appears on a single screen for ease of viewing and comparison.

“OpenClose’s rate sheet generator has taken a huge, time consuming burden off of our plate by completely automating the process for us,” said Kevin Marconi, chief operating officer of United Fidelity Funding. “It has saved us a great deal of time, we know our pricing is always current and accurate and we can run best in real-time. Our branches and originators absolutely love it.”

The user interface is intuitive and enables single-screen searches for ease of viewing. Pre-built templates can be utilized to quickly populate the rate sheets, which can be exported to Excel or other desired formats. On-the-fly changes can be made throughout the day that reflect current investor pricing and best execution can be simultaneously run on all products for all investors.

The rate sheet generator leverages OpenClose’s DecisionAssist Web-based PPE, which houses an extensive library of up-to-date investor guidelines and pricing. The PPE is maintained by OpenClose’s team of mortgage business analysts. DecisionAssist integrates with OpenClose’s LOS platform, LenderAssist, or it can also be utilized as a standalone PPE. Investor programs can be private-labeled, customized for branding, and pricing, profit margins and fees can be controlled by investor, channel, company or branch.

“The response that we have been getting from lenders is that this is one of the best rate sheet automation tools they have ever seen. There is a wow factor when you see it,” said Vince Furey, senior vice president of lending solutions at OpenClose. “Working together, our rate sheet generator and DecisionAssist PPE delivers speed, accuracy, visibility and ease of use that makes lenders more profitable and efficient. Further, it instills a level of confidence in originators that they can trust.”

Published
Sep 29, 2016
More from
Tech
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Guaranteed Rate Adds New Chief Product And Technology Officer

Guaranteed Rate named Dr. Ramesh Sarukkai as the company’s new chief product and technology officer.

Industry News
Nov 22, 2021
Fintech Mortgage Proven To Reduce Racial Bias In Lending

Technology-based Fintech mortgage may be the answer to reducing, and ultimately eliminating, racial bias and discrimination in lending.

Analysis and Data
Nov 19, 2021
nCino To Acquire SimpleNexus

Cloud banking and digital transformation solutions company, nCino Inc., signed a definitive agreement to acquire SimpleNexus in a stock and cash transaction valued at an estimated $1.2 billion.

Tech
Nov 19, 2021
Guaranty Home Mortgage Partners With Paradatec For Doc Automation

Guaranty Home Mortgage Corporation selected Paradatec's AI-Cloud for document processing and indexing.

Tech
Nov 16, 2021
loanDepot Wholesale Enhances mello Broker Portal

loanDepot Wholesale launched the newest iteration of its mello broker portal, which then company says features added efficiencies in the closing process.

Wholesale
Nov 16, 2021