In The News

7 Mortgage Implements OpenClose’s LOS & POS To Support Its Network Of Credit Union Members

7 Mortgage, a credit union service organization (CUSO), announced that it went live with OpenClose’s end-to-end loan origination system (LOS) allowing its partner credit unions to leverage the mortgage industry’s leading technology. The OpenClose solution allows 7’s CUSO members to efficiently and effectively complete mortgage loans –– from start to finish –– via a centralized platform rated #1 by multiple independent studies.

A subsidiary of ORNL Federal Credit Union (ORNL FCU), 7 Mortgage successfully launched OpenClose’s LenderAssist LOS and ConsumerAssist POS in July, delivering an enriched digital mortgage experience for both partner credit unions and the members they serve. 7 Mortgage now offers an array of new features, further distinguishing itself as a premier CUSO for residential mortgage lending.

“I am excited to convert our clients from Mortgage Cadence to OpenClose because it offers versatility, a fresh, modern look and sports a user-friendly format,” said Chris Boler, 7 president and CEO. “7 is dedicated to making credit unions stronger through collaboration. By offering a top-tier product like OpenClose to our partners, we are helping our members and our industry thrive.”

7’s credit union members have access to OpenClose’s award-winning platform, which includes a robust digital mortgage point-of-sale solution; a comprehensive, 100 percent browser-based LOS; a flexible, natively built product and pricing engine (PPE); business intelligence and analytics software (BI); mobile device functionality extension; and a RESTful API suite for simple, cost effective integrations.

OpenClose offers a uniquely consolidated digital POS and LOS, along with additional capabilities –– all via a single-source software provider, driving real-time member engagement and collaboration throughout the mortgage loan process.

“We are pleased to welcome 7 Mortgage as a new OpenClose partner and are confident its members will gain many benefits from our platform,” said Vince Furey, CRO at OpenClose. “Our LenderAssist LOS brings new efficiencies to the table, which transforms mortgage lending for credit unions into an easier, streamlined, member centric process.”

Using the new solution, 7 and its members are expected to benefit from OpenClose’s #1 rated customer service, better connectivity, reduced operating costs, quicker turn times and expanded options by which to conduct business.