OpenClose, MemberClose Partner to Provide Mortgage Software for Credit Unions

Sales partnership provides credit unions Web-based tools to market, originate and close mortgages

WEST PALM BEACH, Fla.--()--OpenClose Mortgage Software, developers of Web-based, end-to-end, loan origination software announced today that it has partnered with MemberClose, a service of Marlborough, Mass.-based Members Insurance Agency, LLC, to promote its new MemberAssist™ credit union software in the Northeast. MemberClose provides web-based, bundled settlement solutions for credit union mortgage and equity loans.

Through it’s partnership with OpenClose, MemberClose will have the capability to offer a full suite of mortgage services creating one integrated system from marketing loans to post-closing support. MemberClose’s settlement services will pull loan data directly from MemberAssist and enable credit unions to determine what services they need to complete the loan on a case-by-case basis. These services include credit reporting, appraisal services, title insurance and document preparations.

“We were looking for a turn-key product to get our mortgage program off the ground,” said Alan Schumann, vice president of Lending for Middletown, Conn.-based Seasons Federal Credit Union ($105 million in assets). “Using OpenClose’s Web-based LOS through MemberClose, we were able to get up and running with minimal set-up time and on-going maintenance. We are also able to continue to refine and configure our set-up to best fit our lending needs.”

MemberAssist includes a member-facing mortgage website that integrates seamlessly with your Credit Union software and existing website. It provides 24/7 access to your credit union’s mortgage programs as well as a wide variety of consumer friendly educational sources including calculators, newsletter articles, and other helpful reference material.

Credit union members can browse products and rates, request more information, complete a “Quick App” and even fill out a complete 1003 mortgage application if so desired. The new MemberAssist product fully integrates with OpenClose’s new AssistSeries, a recently released suite of mortgage products, allowing credit unions to add-on additional features to build an enterprise level, full mortgage solution, as their business requirements.

Additional services such as credit reporting, appraisal services, title insurance and document preparations can also be added through the integration with MemberClose.

“This partnership is the perfect opportunity to provide credit unions with the latest mortgage technology from one of the nations leading mortgage software companies to eliminate inefficiencies,” said Bob Delaney, chief operating officer of Members Insurance Agency. “With the challenges in today’s mortgage space, this suite is an innovative way to supply our credit unions with cutting edge Internet services for marketing, originating and closing mortgages.”

The MemberAssist mortgage product suite will be promoted by the MemberClose organization and supported by the OpenClose’s sales and technical support teams.

About OpenClose

West Palm Beach, Fla.-based OpenClose has been a pioneer of on-demand mortgage solutions since its inception in 1999. The Web-based end-to-end mortgage banking platform, which includes Decision Assist™, contains all elements of the lending process for retail, wholesale and correspondent channels. OpenClose also offers broker portals and direct consumer Web sites, providing a true customer-to-end system. Each installation is customized to the lender’s workflow, business model and terminology. For more information, visit the company’s Web site at www.openclose.com.

About MemberClose

MemberClose, a service of Marlborough, Mass.-based Members Insurance Agency, LLC, provides Web-based, bundled settlement solutions for credit union mortgage and equity loans. More than 100 credit unions rely on MemberClose to save time and money in processing loans. For more information, visit them at www.membersllc.net/MemberClose_247.html.

Contacts

For OpenClose
Media contacts
David Jones, 678-781-7238
or
Elizabeth Salter, 678-781-7224

Contacts

For OpenClose
Media contacts
David Jones, 678-781-7238
or
Elizabeth Salter, 678-781-7224