OpenClose MTG Launches Correspondent Lending Platform

OpenClose MTG(R) announced today the release of its Correspondent Lending Platform at the MBA's 92nd Annual Convention & Expo. The Correspondent Lending Platform is Web-based software that expedites the funding process by providing a mortgage lender's correspondent an intuitive and easy-to-use interface to upload loans from any major point-of-sale system and access all the tools they need. Designed specifically for the correspondent lender, the new platform provides lenders with an efficient and cost-effective way to handle flow, multiple submissions, batch pricing, bulk commitments and assignments of trade (AOT).
"Providing exceptional service to the correspondent lending channel is critical for lenders in today's increasingly competitive mortgage banking landscape," says Jason Regalbuto, president, OpenClose MTG. "The state of the industry demands it for lenders looking to increase revenues and maximize retention rates. To date, many correspondent lending software solutions have been simply recycled wholesale platforms with a batch upload capability tacked on. We have identified a demand in the market for comprehensive, correspondent software tailored specifically for correspondent lenders and channels. The
OpenClose MTG Correspondent Platform fits that bill."
The latest OpenClose offering equips correspondent users with sophisticated validation tools to manage their pipelines, identify loans eligible for batch pricing and prepare multiple submissions, bulk commitments or assignments of trade. Extensive report-building capabilities enable lenders to meet custom reporting needs.
Using intuitive online tools, a correspondent client can process loans and deliver them to lenders at any time, from anywhere. The only requirement to use Correspondent Lending Platform -- as with all of the OpenClose MTG software -- is a recent version of Microsoft Internet Explorer(R) and Adobe Acrobat(R) Reader.

About OpenClose MTG and Beanstalk Networks
OpenClose MTG ( http://www.openclose.com ) is the flagship product of Beanstalk Networks, a software developer and data center dedicated to servicing the mortgage services industry. OpenClose MTG's modular "add-as-you- go" software design allows clients to choose and pay for only the feature sets required to run their business today with the scalability to add software and user licenses as needed. OpenClose MTG's core system includes loan origination
and pipeline management software. For additional information about OpenClose MTG or Beanstalk Networks, contact Frank Bocchino at (561) 804-4560.

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