2020 HW Tech100 Mortgage winner: OpenClose

Cuts the cost to manufacture loans and eliminates multiple systems

OpenClose offers a single-source solution, consolidating the front-end borrower-facing digital mortgage POS with a multi-channel browser-based LOS along with an embedded PPE and BI/analytics capability. The platform cuts the cost to manufacture loans, eliminates multiple systems, delivers newfound efficiencies, optimizes origination and operations, streamlines workflows and enhances the consumer experience.

  • Achieved more than 100% annual revenue growth from 2018 to 2019
  • OpenClose’s consumer digital POS reduced processing and underwriting cycle times from seven days to two hours
  • After switching to the OpenClose LOS model, the number of FTEs and external development costs lenders required was reduced by 43%

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