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OpenClose Implements LOS Platform for Federal Credit Union

West Palm Beach, Florida-headquartered OpenClose, a multi-channel loan origination system (LOS) and mortgage fintech provider, has announced that Ascend Federal Credit Union (Ascend) is leveraging its LenderAssist LOS platform and DecisionAssist product and pricing engine (PPE). OpenClose’s browser-based solution has delivered additional efficiencies and heightened service levels for the credit union’s growing mortgage lending division.

Ascend engaged with OpenClose to provide the credit union with a robust LOS that will simplify its mortgage processes, ensure compliance, improve efficiencies, maximize productivity, and reduce costs without the time and expense of implementing and maintaining a legacy system. LenderAssist is configured to support Ascend’s specific business processes and automate the lending workflow from start to finish. The entire platform was implemented in less than 60 days.

“Since implementing OpenClose, we have enhanced our overall mortgage lending process and ability to provide faster, better service to members looking for a home loan,” said Don Gilliam, VP of Mortgage Lending at Ascend.

OpenClose maintains the entire system for Ascend, avoiding the need to add internal staff and dramatically reducing total cost of ownership. DecisionAssist provides instant, accurate loan pricing and eligibility for Ascend’s mortgage staff. OpenClose’s team of mortgage specialists manage all guidelines and pricing on a daily basis for Ascend. In addition, as Ascend grows, LenderAssist is designed to flex and scale with the business, preventing expansion challenges.

“Attaining a home loan can be an intimidating, complex experience for many consumers, but Ascend’s focus on service and use of technology makes it very easy for members to do business with them,” said JP Kelly, President of OpenClose. “LenderAssist and DecisionAssist have contributed to Ascend’s already high service levels by helping add simplicity, transparency, and excellence in service to members.”

About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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