OSB Community Bank Adopts Nexus Closing By SimpleNexus To Support Hybrid Closings
OSB Community Bank, a subsidiary of Ottawa Bancorp, Inc. (OTCQX: OTTW), has implemented SimpleNexus’ Nexus Closing to facilitate hybrid closings. The bank will leverage Nexus Closing alongside Nexus Engagement and Nexus Origination — tools the bank has used for six years — to facilitate a ‘from anywhere’ borrower experience from application to closing.
Founded in 1871, OSB Community Bank is an Illinois-chartered commercial bank with loan officers operating out of branches in Ottawa, Marseilles and Morris, Illinois. Director of Mortgage Sales Dan Sabol credits SimpleNexus’ robust platform of digital mortgage solutions as playing an important role in OSB Community Bank’s ability to grow annual mortgage volume from $12 million to $125 million over the past six years.
“SimpleNexus provides a modern, easy-to-use interface for customers, while helping our LOs give homebuyers the personalized service that OSB Community Bank has prided itself on for more than a century,” said Sabol. “More than offering our customers a unified financing experience, Nexus Closing’s seamless integration with Nexus Engagement and Nexus Origination will enable us to operate in a more organized, efficient and productive manner.”
Nexus Engagement helps lenders and real estate agents develop relationships with early-stage homebuyers through tools such as integrated home search, instant chat and payment calculators. Nexus Origination is a comprehensive point of sale (POS) platform that enables borrowers to fill out loan applications, eSign documents, check loan status updates and pay mortgage-related charges through a feature called Nexus Pay. Nexus Closing supports all types of mortgage closings, from traditional to hybrid to full eClosings. The entire SimpleNexus suite can be accessed by borrowers, lenders and other authorized stakeholders from anywhere through a single, sign-on portal.
“For organizations producing billions of dollars in mortgage volume to community lenders like OSB Community Bank, SimpleNexus curates a frictionless homebuying experience that delights borrowers and promotes operational efficiency from start to finish,” said SimpleNexus Chief Product Officer Shane Westra. “OSB Community Bank brilliantly models how SimpleNexus can be used to keep LOs, real estate agents and homebuyers connected throughout the loan lifecycle, while achieving faster conversion times and growing origination volume.”
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