News About OpenClose

OpenClose

Established in 1999, West Palm Beach, Fla.-based OpenClose® is a pioneer of the web-based mortgage. Its AssistSeries™ is web-based mortgage software that can be used as stand-alone software or interface seamlessly for an end-to-end solution. It consists of: LenderAssist™ a loan origination software that also includes underwriting, closing, secondary marketing, accounting through post-closing; DecisionAssist™ an accurate loan pricing and eligibility engine; ConsumerAssist™ which provides custom and template Websites; and BrokerAssist™ a loan search & productivity suite with access to one of the nation’s largest wholesale lender databases.

• August 31, 2010
• 2009
• 2008

OpenClose releases “GFE Lockdown” for enhanced editing features in its loan origination software that greatly improves GFE accuracy

WEST PALM BEACH, August 31, 2010 – OpenClose Mortgage Software, developers of Web-based, loan origination software, has released the enhanced editing version that improves the accuracy of information flow in the new good faith estimate (GFE). The GFE lockdown “significantly improves” accuracy of loan documents allowing for those lenders to gain better control.

Regulatory change called for a redesigned GFE this year to -- in part -- provide borrowers with more detailed closing cost information in order to make better informed decisions. But mistakes, or erroneously changed fees, can create inaccurate applications and non compliant loans. For example, a loan officer might try to waive a charge that the lender stipulates as mandatory.

OpenClose created the GFE lockdown to provide lenders with even greater control by adding the ability to lock down fields in the fee maintenance and closing cost scenarios modules. By checking the “Lock on GFE” checkbox, a loan administrator can freeze the dollar value for that fee and then it cannot be changed on the Good Faith Estimate by any originator or processor.

“The redesigned GFE 2010 provides many more details for prospective homebuyers,” said Jason Regalbuto, President, OpenClose, “but with those details comes more chance for error. Our new GFE lockdown feature provides an extra level of control and therefore, peace of mind.”

OpenClose Mortgage Software Integrates Zillow® Mortgage Quote API

WEST PALM BEACH, FL-- July 29, 2010) - OpenClose Mortgage Software announced it has integrated its Decision Assist loan pricing engine with the Zillow Quote application programming interface (API). Now OpenClose's participating lender clients can provide live mortgage rates through the Zillow Mortgage Marketplace. OpenClose lending clients can now instantly reach thousands more potential borrowers and loan officers by providing their rates through Decision Assist's accurate data feed seamlessly through Zillow.

Zillow.com® is an online real estate community for homeowners, buyers, sellers, real estate agents and mortgage professionals. By integrating with the Zillow Quote API, potential borrowers using Zillow Mortgage Marketplace receive the full set of lender details and rates fed from the Decision Assist loan pricing engine. The process is instantaneous and displayed to the borrower in seconds. Decision Assist expedites the process for a credit union, community bank, or mortgage company that wants to participate in the Zillow Quote API while providing a loan pipeline for its users and route leads to the desired branch or loan officer through workforce queues.

"This integration between Zillow and OpenClose creates the opportunity for all lenders to participate in the online web lead explosion -- not just the largest ones," said Jason Regalbuto President, OpenClose. "So many consumers choose Zillow as their first stop for loan pricing. By choosing our feed, a lender will get a leg up on the competition with loan pipeline management and advanced reporting tools."

The Zillow integration is similar to the Google Content Ads integration OpenClose established earlier this year. And like the lenders who selected OpenClose to provide their loan data feed, the lenders that receive interest from online borrowers from Zillow/OpenClose can immediately funnel that contact directly into its LOS. Borrowers, in turn, benefit from the accurate transfer of data and elimination of repetitious questions and requests. Zillow created the Zillow Quote API to simplify the desire for lenders to provide custom quotes to borrowers.

OpenClose Mortgage Software Reports “Significantly Higher” Sales in 2010

WEST PALM BEACH, FL -- 06/16/10 -- OpenClose Mortgage Software : , developers of web-based, end-to-end mortgage lending software, are reporting "significantly higher" mortgage software sales volume in the first five months of 2010. The company has been selling mortgage software to banks, lenders, and credit unions for more than 11 years. In the first 5 months of 2010, sales of OpenClose's web-based loan origination software : has already surpassed its sales for all of 2009.

There has been a huge shift in the residential mortgage business to small banks and credit unions; however their existing mortgage software technology : was ill-equipped to handle the significant increase in origination volume and/or regulation changes. OpenClose attributes its large rise in sales this year to its scaleable, web-based solutions which credit unions and small banks implement quickly unlike other cumbersome legacy mortgage banking software.

According to J.P Kelly, President, OpenClose, the advantages of providing a software as a service model (SaaS) to these new residential mortgage players are many. "Credit unions and banks are known for running lean operations," said Kelly. "They don't have huge software systems because they don't need them to keep service levels high. We offer flexibility at an affordable price. Now is the time to retool and take advantage of the quick and low cost to implement a web-based origination software."

OpenClose Mortgage Software Adds Document Publishing To Its Loan Origination Software

NEW YORK, NY -- (May 24, 2010) - OpenClose® Mortgage Software, developers of Web-based, end-to-end mortgage lender software, has announced at the MBA Secondary Conference that is has developed document publishing functionality and added it to LenderAssist: its loan origination software. The new document delivery system greatly improves disclosure tracking and compliance practices.

Document publishing solves problems of form traceability and accountability. Traditionally mortgage documents are either hand delivered or sent through the mail but there’s no way of knowing if they’ve been read, signed or returned. Emailing documents is considered less secure as email accounts they are more open to theft and/or tampering. Document publishing allows LenderAssist users to publish RESPA docs (1003, the new GFE and the TIL) in a traceable, secure, and compliant method.

The new function sends the borrower a unique hyperlink via email to a secure encrypted site. From there the borrower acknowledges acceptance of electronic documents. The borrower inputs the security code and the last four digits of their social security number and only then the borrower is permitted to view and/or download their documents electronically. The system sends automatic reminders to the originator (or designated employee) for seven days if the borrower has not accepted the electronic view. This procedure adheres to the new RESPA disclosure law.

“With RESPA, a lender has at the most 72 hours to provide disclosures and many of our customers want the those disclosures to go out immediately,” said Jason Regalbuto, President, OpenClose, “so our top concern is making sure lenders who use our new document publishing remain compliant. As with any new feature in OpenClose, we made the new functionality easy and convenient for both the originator and borrower so people will want to use it.”

OpenClose Loan Origination Software on Apple iPad® a "Game Changer"

WEST PALM BEACH, FL--(Marketwire - April 6, 2010) - OpenClose® Mortgage Software, developers of Web-based, end-to-end mortgage loan origination software is the first to enable its Web-based software to originate and price loans on the new Apple iPad®. The portability and ease of use of the iPad is poised to revolutionize the real estate and loan origination business allowing loan originators with an iPad to abandoned the clunky laptops and do all the origination, pricing and check status in real time, anywhere.

"We think the iPad is a game changer for the mortgage industry," said Jason Regalbuto, president, OpenClose. "LenderAssist loan origination software and DecisionAssist loan pricing software have been the best choices for mortgage companies that want feature rich software that's easy to use and fast to deploy. Now you don't even need a laptop. Just tap your iPad, plug in the info and you're done. It's the best of all worlds -- they have all the tools needed to market, originate, close and sell loans instantly, everywhere."

OpenClose takes advantage of the new unique Apple iPad user experience without forsaking quality. Zach von Gonten, a loan officer for K&B Equity, Palm Beach, FL was the first to price and originate a loan using the iPad. "Fast, easy, and accurate," he said. "It's amazingly cool."

OpenClose Only End-to-End LOS to Power Google Comparison Ads

West Palm Beach, Fla., Jan. 20, 2010 – OpenClose® Mortgage Software, developers of Web-based, end-to-end mortgage loan origination software, is the only pricing and product engine and loan origination system tapped to provide loan rate and fee data feeds for Google’s AdWords Comparison Ads for mortgages.

The new advertising feature gives borrowers more control in their searches for loan product and pricing information and improves the quality of mortgage lender leads via the Internet. Internet users searching for "mortgage" on Google.com may see Comparison Ads that prompt them to select the type of loan to compare various rates. OpenClose’s loan product and pricing engine, DecisionAssist, will then display lender rate data. Potential borrowers can choose directly from the offers listed or further refine their search by providing additional information like income, home value or other parameters. They can also call the lender directly or request a quote. By using the direct feed from OpenClose, borrowers receive accurate, up-to-date rates empowering them to make informed decisions.

“Today, Internet users turn to Google for any and all questions they have from early stage investigation to final decision making – mortgages included,” said Jason Regalbuto, CEO of OpenClose. “AdWords Comparison Ads show targeted offers in less than a second with no long forms to fill out. There are no teaser rates or bait and switch offers, just standardized information presented to users, making it easy for them to sort and compare offers on a side-by-side basis. Lenders are only able to contact the user via an anonymized (non traceable) phone number if the user explicitly requests more information about an advertiser's offer. Google is setting the standard for how borrowers will interact with mortgage lenders moving forward.”

Lenders interested in being included in Comparison Ads can work with OpenClose or one of a few loan pricing engine developers also providing data. OpenClose sets itself apart from other technology by offering a loan origination system in addition to a product and pricing engine. That way, lenders who receive interest from an online borrower can immediately funnel that lead directly into its mortgage software. Borrowers, in turn, benefit from the accurate transfer of data and elimination of repetitious questions and requests.

“We're excited to be working with Google on AdWords Comparison Ads for mortgages,” continued Regalbuto. “Assisting borrowers by providing granular targeted mortgage search results will result in more valuable, qualified leads and create a better experience for borrowers and lenders. Additionally, the seamless integration of Comparison Ads mortgage leads directly into OpenClose will add significant value to our platform for existing and future customers.”

The Google Program is still in beta and we are making it available to our Decision Assist customers only.

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"Online Lending for the New Decade" by J.P. Kelly, COO, OpenClose

"When you are sitting at your computer, do a search for 'Mortgage Lenders' followed by your state and/or city. If you’re not on that first page, you will not be found by potential borrowers. So how can you ensure that your Web site appears high on the results list of your potential customers?

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OpenClose Hits AssistSeries Milestone – 300 Customers. Turn-key, Web-based software helps mortgage lenders and brokers thrive in a down economy

WEST PALM BEACH, FLA., September 24, 2009 – In a year that more mortgage companies and vendors closed their doors, OpenClose has been able to more than survive, but thrive in a down market. In March 2009, the developers of Web-based, end-to-end mortgage loan origination software, released the AssistSeries. The company reports that the number of customers using the series of products currently exceeds 300 companies. These lenders, credit unions, banks and brokers selected the AssistSeries, which is comprised of LenderAssist™, DecisionAssist™, ConsumerAssist™, MemberAssist™ and BrokerAssist™, to help them grow in a down market.

Many customers have chosen the AssistSeries for the ease of using one Web-based system to handle loan origination from multifunctional Web sites to loan pricing to back-end banking software. “In just over six months, we have doubled our volume without having to increase staff,” said Ben Robinson, systems and control coordinator for Mid Nation Mortgage Corp. “By eliminating duplicate data entry and guideline changes, we’ve eliminated costly errors, shortened the amount of time needed to process the file and increased our volume capacity.”

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OpenClose Named to Mortgage Technology Magazine’s “Top 50 Service Provider” list for Third Consecutive Year

WEST PALM BEACH, FLA., June 25, 2009 – OpenClose Mortgage Software, developers of Web-based, end-to-end mortgage loan origination software, has been recognized by Mortgage Technology as a lending-technology leader in the magazine’s annual “Top 50 Service Providers” listing. OpenClose was recognized for providing lenders with one system to automate every key back-end operation from origination to secondary marketing through interim servicing...

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OpenClose, CCMC Partner to Connect Origination, Servicing Software

WEST PALM BEACH, Fla. - (Business Wire) OpenClose®, developers of Web-based, end-to-end mortgage lending software, announced that it has partnered with CCMC Inc. (Altamonte Springs, Fla.) to implement its ccmcBridge® solution with OpenClose’s LenderAssist™ loan origination software (LOS). The first implementation enables OpenClose users to book loans on the Jack Henry & Associates® loan servicing platform.

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"Helping Brokers Streamline Workflow" by Tony Garritano, Broker Universe

Wouldn't it be nice to have one, seamless workflow that connects the broker directly to the lender? Especially given the increased scrutiny being placed on brokers, the need to electronically collaborate is a much bigger deal. Realizing this need, OpenClose has ...read full story

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Las Vegas, Mar. 15, 2009 - OpenClose Introduces AssistSeries™ Product Suite to Streamline Workflows and Increase Productivity

OpenClose, a West Palm Beach, Fla.-based developer of Web-based, mortgage software, announced the introduction of its new, integrated end-to-end suite of mortgage software products called the AssistSeries™. Developed to help mortgage companies and individuals create new business opportunities, the AssistSeries™ streamlines work flows and helps companies do more with less software and less capital. It’s unique design targets a market segment that is significantly wider than most mortgage vendors offering solutions for mortgage brokers, mortgage lenders, credit unions, community banks, from enterprise down to the individual loan originator.

With the recent acquisition of LION MTS, OpenClose has integrated the LION mortgage software into its own Web-based solutions to create a new enhanced suite of mortgage products. The new hybrid products are built upon a single technology platform to allow mortgage professionals the ability to create individual solutions based upon their business needs today and quickly add the necessary components as their business grows while still preserving their original investment.

From the consumer through to secondary marketing, the AssistSeries of products is a multi-level software solution designed to provide the mortgage professional with a flexible mortgage platform that will manage their loan process from marketing to the borrower, loan origination to post-closing. The AssistSeries contains four product groups:

LenderAssist™: a Web-based loan origination software (LOS). LenderAssist is the flagship OpenClose product that combines traditional LOS capabilities with core lending tools including pipeline management, mortgage processing, underwriting, closing, secondary marketing, accounting, post-closing and imaging in a Web-based environment.

DecisionAssist™: an accurate, Web-based loan pricing and eligibility engine. DecisionAssist is available in three configurations designed to meet the needs of a lender of any size. It's available with the LenderAssist product or as stand-alone solution.

ConsumerAssist™: a comprehensive collection of custom and template Website products for lenders or mortgage brokers. Optimized for high search engine placement and lead generation, each site is designed with the unique requirements of our customer. For LenderAssist users, data funnels automatically into the LOS to streamline workflow.

BrokerAssist™: loan search & productivity suite featuring a robust loan pricing engine. Mortgage brokers gain instant access to one of the nation’s largest wholesale lender databases. The software also includes loan pipeline management, market news, and data updated daily.

“The old ways of doing business are not going to cut it anymore. They’re gone with the companies that are no longer in business,” said J.P. Kelly, president of operations, OpenClose. “Things will be better in 2009 for those company’s that drive their success with new ideas, investments in new infrastructure and new technology solutions that are designed to solve the problems of today and create new opportunities in the future.

“In order to be successful in the future companies are going to have to change the way they do business, and I believe that our new Assist Series product suite will help them do that.” said Kelly. “OpenClose’s Assist Suite helps to increase efficiencies in the lending process. by including consumers and brokers in the same system used by lenders and consolidating all loan information. Preparation time is reduced, while security and profitability are maximized.”

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Renton, Wash, Jan. 20, 2009 - Loan Network Selects OpenClose to Streamline Lending

OpenClose, developers of Web-based mortgage software, announced today that Renton, Wash.-based lender Loan Network selected OpenClose, a single-source-code, end-to-end automated mortgage system, to provide comprehensive loan processing.

Loan Network selected the loan origination software (LOS), because the single loan database encompasses the creation, processing and tracking of a loan application in a completely digital format from open to close. Key reasons for the selection include the system’s Web-based platform, ability to streamline processes and communication throughout the organization and cost savings seen through combining previously outsourced systems into one.

“Efficiency is at the root of everything we do,” said Scott Fletcher, owner of Loan Network. “OpenClose’s system has allowed Loan Network to drastically improve how we do business by condensing several portals we used to process a loan down to one. All of the information we need can be stored in a single location for everyone across the organization to access, without hunting for files or papers. This saves the loan officers’ time, as well as increases accuracy and security.”

Fletcher also cited the reduction in paper-based processes as a benefit throughout the organization. Loan Network has nearly eliminated paper costs, cancelled a monthly contract on a now unneeded printer and cut staff that was previously needed to maintain the paper workflow. In addition, there is no longer doubt around whether a fax made it to its destination because Loan Network is able to upload items electronically.

“We have cut costs by a third, while increasing customer service and the reliability of our processes.” said Fletcher.

“Our system is built around a philosophy of streamlining and increasing efficiency by bringing all steps of the loan process under one roof,” said Rob Pommier, senior vice president of Sales at OpenClose. “We firmly support Loan Network’s efforts to retool in a tight market in order to jump ahead of the competition when conditions improve. Our mortgage software enables Loan Network to give their customers what they need while allowing them to continually grow with the addition of new customers.”

About Loan Network Renton, Wash.-based Loan Network is an affiliate mortgage partner operating through 34 branches to provide independent loan originators with a guide to conveniently and successfully close loans through their network. For more information, visit www.loannetwork.com.

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San Francisco, Oct. 20, 2008 - Lenders Benefit from QuestSoft and OpenClose Partnership, More Streamlined Compliant Loan Origination Capabilities

QuestSoft, a provider of compliance software and geocoding services for lenders, and OpenClose, developers of Web-based, end-to-end mortgage lending software, announced today at the Mortgage Bankers Association's 95th Annual Convention and Expo announced the integration of QuestSoft's automated compliance tool, Compliance EAGLE, with OpenClose's loan origination software (LOS).

Compliance EAGLE is the only automated compliance solution to be embedded in the OpenClose platform. This comprehensive integration enables OpenClose users to quickly and easily run residential mortgage loan applications through multiple compliance service checks. The test modules include High Cost, Truth in Lending Act (TILA), Home Mortgage Disclosure Act (HMDA) checks, FNMA's proprietary 5 percent tests and other integral compliance reviews. The Compliance EAGLE integration with OpenClose streamlines the origination process for lenders, while simultaneously protecting them from the risk of having non-compliant loans in their origination pipelines.

In today's lending environment, originators clearly recognize the need for -- and must have access to -- technology that will help them in their business through cost-effective, streamlined origination capabilities," said Rob Pommier, senior vice president of Sales at OpenClose. With the Compliance EAGLE interface, our customers can rest assured that their loans will be fully compliant while benefitting from the same conveniences and efficiencies that they have come to expect with OpenClose.

QuestSoft's Compliance EAGLE combines the most important components of mortgage lending compliance, including HMDA, TILA, Home Ownership and Equity Protection Act (HOEPA), Federal, State and Local Anti-Predatory lending laws, State Consumer Lending, Office of Foreign Assets Control (OFAC) and Social Security Number (SSN) checks along with many other crucial compliance reviews, into a single system. OpenClose provides users with an expanded, Web-based, end-to-end LOS that effectively connects brokers with mortgage bankers through a single tool to manage the entire loan life cycle from consumer to secondary market. The LOS includes a robust banking operations core, support for underwriting, closing, post-closing, secondary marketing, funding, shipping and reporting.

In this changing market, every loan origination takes on special importance, and lenders can no longer gamble on post-closing reviews to monitor the compliance of their portfolios, said Leonard Ryan, president of QuestSoft. Once a loan is funded, there is little recourse for the lender to avoid potential legal action, buyback requirements, fines or penalties. OpenClose recognizes their clients are exposed to higher risk in today's environment and they are taking steps to help protect them.

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 or www.decisionassist.com.

About QuestSoft Laguna Hills, Calif.-based QuestSoft is an established provider of comprehensive and automated compliance software and services to the mortgage, banking and credit union industries. The company's products enable more than 1,500 banks, credit unions and mortgage companies to simplify the collection, analysis, compilation and reporting of key lending regulatory report data. For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com.

West Palm Beach, FL, Sept. 26, 2008 - OpenClose Expands Decision Assist to Target Mortgage Professionals of All Sizes

OpenClose®, developers of Web-based, end-to-end mortgage lending software, announced today the company has significantly expanded its loan pricing engine and product suite, Decision Assist.

The enhancement turns one pricing engine into four products targeted to mortgage professionals depending on the size of their staff and lending requirements. Decision Assist Broker is designed for individual users; Express targets small groups; Professional is available for mid-sized companies; and Enterprise meets the decisioning needs of large companies. The Decision Assist product suite enables mortgage originators to identify the appropriate loan product for a borrower, speed funding and increase profit. With four products, the suite also ensures that Decision Assist can grow with any mortgage professional's loan volume.

In today's mortgage market, every moment with a borrower counts, said OpenClose president, Jason Regalbuto. Mortgage originators, brokers and bankers must have the right tools at their fingertips to quickly and conscientiously produce more loans and maximize their profitability. The Decision Assist product suite works with OpenClose's consumer-facing mortgage Web site technology and productivity tools, formerly known as LION MTS as well as the OpenClose end-to-end loan origination and back end banking system. In addition to its obvious role in loan origination, Decision Assist also benefits secondary marketing departments. The loan pricing engine and product suite verifies loan product information, making it more attractive for sale.

The ability of a lender to sell loans on the secondary market is paramount, continued Regalbuto. Secondary marketers can leverage Decision Assist's functionality to ensure investors are getting a qualifying loan, making them more attractive in a time of great scrutiny. As a way to promote Decision Assist, OpenClose is waiving the set up fee for the product to those who purchase before Oct. 15. The best time to lay the foundation for success tomorrow is to invest in that success today, said David Stedman, senior vice president of Sales and Marketing for OpenClose. For 30 days, we are offering our new Decision Assist product suite at no set up fee, which represents a significant savings.

West Palm Beach, FL, May 15, 2008 - OpenClose to Purchase Assets of LION Inc - Purchase adds consumer and broker capabilities to OpenCloses end-to-end software

The acquisition expands OpenClose’s existing solutions, which include an end-to-end loan origination software (LOS) and product-pricing engine for mortgage bankers, to include direct consumer and broker lending software. The Precision LPX suite consists of Web-enabled tools designed to help brokers originate, price and lock loans. The expanded services, combined with OpenClose’s existing end-to-end LOS, gives lenders and brokers a single tool to handle every task in the loan life cycle from consumer to secondary market.

"OpenClose will give our existing customers continued support to the software they rely on, while also offering additional services to help them automate the mortgage pipeline,” said David Stedman, president of LION, Inc. “In addition, OpenClose gains the tools needed to become the first completely Web-based, end-to-end mortgage software that touches all points from the consumer to the investor."

LION, Inc.’s software is scaled to meet the needs of mortgage originators of all sizes. The Precision LPX solution is designed to meet the needs of large lenders. Precision Access and Precision Lion Broker are scaled to meet the needs of mid-sized lenders and individual brokers, respectively. OpenClose will also add LION’s retail Web site business, which designs, develops and hosts retail Web sites for more than 1,200 lenders, origination companies and brokers.

"OpenClose will offer completely Web-based ‘consumer-to-end’ mortgage software that will provide the most cost-effective way to price, originate, close and sell loans in the mortgage industry,” said Jason Regalbuto, president of OpenClose. “We are broadening the horizon of traditional lending software by adding consumers and brokers to the same systems used by lenders in an effort to minimize time spent preparing loans and maximize the security and profitability of those loans."

OpenClose’s .web based software supports underwriting, robust core banking operations, closing, post-closing, secondary marketing, funding, shipping and reporting. The software, is offered as a hosted managed ASP solution, allowing wholesale and retail lenders to use the system with originators nationwide.
In addition to the OpenClose LOS, the company also offers lenders Decision Assist, a managed product guideline, pricing and decisioning engine. The program gives lenders a powerful tool to keep up with the rapidly changing investor guidelines in the industry, price the loans and make automated decisions on the loans. Decision Assist, is available within OpenClose or as a stand-alone installation.

"OpenClose is investing in the future of mortgage lending by taking the tools needed to secure pricing, originate and close loans directly to consumers, brokers and mortgage bankers,” said J.P. Kelly, chief operating officer of OpenClose Solutions. “While others are pulling back, we are growing and broadening the availability of software that streamlines all aspects of the mortgage supply chain."

About LION, Inc.
LION, Inc. provides software and services that enable mortgage loan brokers and lenders to increase their productivity in originating single-family residential mortgage loans. The Company’s flagship product, Precision LPX is a suite of products consisting of a loan pricing engine, a database of industry leading lenders’ loan programs and pricing information, web enabled tools and other transactional services designed to enable large lenders to originate, price, and lock loans. LION’s Precision Access and Precision Lion Broker product suites, which are based on the Precision LPX technology platform, are aimed at medium-sized lenders and individual brokers, respectively. Precision Lion Broker gives subscribing brokers access to LION’s well-known, proprietary business-to business Internet portal, LION Broker (formerly known as LION Pro). LION also designs, develops and hosts retail websites for mortgage lenders, origination companies, and individual mortgage brokers. For more information, visit the company’s Web site at www.lionmts.com or www.lionbroker.com

About OpenClose
West Palm Beach, Fla.-based OpenClose has been a pioneer of mortgage software solutions since its inception in 1999. The company’s Web-based, end-to-end mortgage banking platform, OpenClose®, and loan pricing engine and automated underwriting software, DecisionAssist™, can be customized to any lender’s workflow, or business model. For more information, visit the company’s Web sites at www.openclose.com or www.decisionassist.com.