Tag Archives: STRATMOR Technology Insight Study

OpenClose LOS Platform, POS System and PPE Receives the Highest Overall Satisfaction and Lender Loyalty Score in STRATMOR’s New ‘Technology Insight Study’

WEST PALM BEACH, Fla. /ScoopCloud/ -- OpenClose(R), an industry-leading multi-channel loan origination system (LOS) and digital mortgage fintech provider, announced that STRATMOR Group's most recent Technology Insight Survey ranked the company's LOS platform, point-of-sale (POS) system, and product and pricing engine (PPE) as having the highest Overall Satisfaction and Lender Loyalty Score(TM) out of any vendor surveyed in the mortgage industry.

This year, STRATMOR conducted a more extensive survey than in previous years, evaluating vendors in core areas of residential lending automation. OpenClose's entire mortgage software solution suite was lauded by customers, scoring highly in all categories.

"Our core focus is innovation and support and our customers' happiness reflects the level of ingenuity and strong impact our development efforts have had," said Vince Furey, CRO at OpenClose. "I am particularly pleased to receive validation of our very hands-on, boutique-style customer support culture. Scoring second-to-none with 100% effective ratings in both help desk and overall customer support is a terrific accomplishment for our support team. We're elated that our solution scored so well and appreciate the hard work that STRATMOR Group invested to make the Technology Insight Study happen."

OpenClose had the highest Overall Satisfaction rating out of all LOS vendors surveyed in the mortgage industry, scoring 9.7 out of 10, had a perfect 100 Lender Loyalty Score(TM), and it is the only LOS provider that had zero outages reported. In the POS category, OpenClose scored higher than any vendor for Overall Satisfaction at 9.4 out of 10 and had the best Lender Loyalty Score(TM) with 86 out of 100.

The new STRATMOR Technology Insight Study also included a section that covered front-end digital mortgage solutions. STRATMOR's analysis of the Lender Loyalty Score(TM) for these systems shows OpenClose as the number one vendor in Overall Satisfaction. Key observations in the survey found that the most important lender perceived benefits were faster cycle times, increased borrower satisfaction and greater task and workflow automation.

Lastly, OpenClose's DecisionAssist(TM) product and pricing engine scored the highest in Overall Satisfaction and also touted a perfect 100 for its Lender Loyalty Score(TM).

"JP Kelly and I started OpenClose to innovate mortgage banking solutions, solve pain points and generally make the process faster, better, and cheaper," said Jason Regalbuto, the company's CEO and CTO. "With the dedication of an outstanding team of professionals with extensive mortgage experience and wonderful customers, we have achieved our goal. Seeing the customer satisfaction results in the STRATMOR report is a tremendous validation of 20 years of hard work. There's no stopping us now."

OpenClose recently broke new ground with the launch of the mortgage industry's only solution provided by a single vendor that offers a comprehensive Digital Mortgage POS solution consolidated with an end-to-end, multi-channel LOS that is completely browser-based. The unique solution removes multiple vendors, contracts and pricing models to dramatically reduce loan-manufacturing costs while also providing a more streamlined workflow. It takes the borrower experience to new heights and provides newfound back-office efficiencies.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading enterprise-class, multi-channel loan origination system (LOS), POS digital mortgage and fintech provider that cost effectively delivers its digital platform on a software-as-a-service (SaaS) basis. The company provides a variety of innovative, 100 percent web-based solutions for lenders, banks, credit unions, and conduit aggregators. OpenClose's core solution, LenderAssist(TM), is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up. The company offers a RESTful API suite that standardizes system-to-system integrations, making them easier to develop, quicker to implement and more cost effective. OpenClose provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit https://www.openclose.com/ or call (561) 655-6418.

About STRATMOR Group:

Founded in 1985, STRATMOR Group has, since inception, focused exclusively on making the mortgage business better for lenders and the borrowers they serve. Today, we are a data-driven advisory that guides our lenders and vendor clients alike to make smart strategic decisions, solve complex challenges, streamline operations, improve profitability and accelerate growth. For more information, visit https://www.stratmorgroup.com/.

News from OpenClose

OpenClose(R), an industry-leading multi-channel loan origination system (LOS) and digital mortgage fintech provider, announced that STRATMOR Group's most recent Technology Insight Survey ranked the company's LOS platform, point-of-sale (POS) system, and product and pricing engine (PPE) as having the highest Overall Satisfaction and Lender Loyalty Score(TM) out of any vendor surveyed in the mortgage industry.

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Mortgage Capital Trading Scores High Marks in Overall Satisfaction, Lender Loyalty, and Functionality Effectiveness According to Recent Study by STRATMOR Group

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that the 2018 STRATMOR Technology Insight Study rated MCT as the leader in overall satisfaction, lender loyalty, and functionality effectiveness in the production pipeline hedging industry, according to survey respondents.

According to STRATMOR Group, "72 percent of respondents use third-party tools for Production Pipeline Hedging and 29.9 percent chose Mortgage Capital Trading (MCT) to conduct these analyses. Further, MCT's Lender Loyalty Score value is an impressive 81; 20 points higher than the overall average score."

The STRATMOR Group study results were gathered from a broad group of lender executives with the goal of providing lenders with data on the technology solutions available in the market today. Of the executives who responded to the survey, 45 percent were the head of, or part of, the technology department. Additionally, more than two-thirds of respondents were independent mortgage bankers, while 31 percent were banks or credit unions.

Visit the study web page to learn more or purchase the full report: http://www.stratmorprograms.com/events/2018-stratmor-technology-insight-study-report/event-summary-0a72fd24156f44fa8f70fd7793b1fed9.aspx

"There's never been a better time to be at MCT," said Curtis Richins, President of MCT. "We have so many new technologies and innovations rolling out that everybody is excited about the future. We're proud clients still experience the same boutique-style customer service despite our rapid growth."

In the study, MCT was ranked the leader in overall satisfaction and functionality effectiveness ratings. Survey respondents gave MCT an overall satisfaction score of 9.1 out of 10, compared to the overall average satisfaction rating of 8.3. Additionally, MCT was the highest-rated vendor across nine areas of functionality effectiveness, including margin tracking, ease of use, reporting capabilities, and overall customer support. The majority of clients rated MCT as "highly effective / competitively advantaged" in eight of the nine functionality effectiveness areas.

"We're very pleased with the results of STRATMOR's 2018 Technology Insight Survey," says Richins. "The results reflect MCT's relentless mission to provide clients with ground-breaking new technology, such as the recently released bid tape AOT tri-party agreement automation within the Bid Auction Manager (BAM) whole loan trading platform."

"Before the Tri-Party automation, I had to write in all the fields, print and attach all the confirms, sign, scan, and send for every assignment-of-trade," said Andrew Stringer, Directory of Secondary and Capital Markets at First Bank in a recently published case study. "Without the automation, I probably wouldn't bother with AOT transactions very often, because the time cost might outweigh the pickup."

To learn more about MCT's unique blend of award-winning technology and best in class customer service, visit https://mct-trading.com/.

ABOUT MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

ABOUT STRATMOR GROUP:

STRATMOR Group is a leading mortgage industry advisory firm that provides a range of programs and services designed to counsel lender CEOs and senior executives. STRATMOR serves more than 250 companies annually, providing strategies that increase growth and improve profitability in sales, marketing, technology, operations and mergers and acquisitions using comprehensive, propriety data and key insights gained through extensive experience in the mortgage industry. The company is well known for its financial models and its collaboration with the Mortgage Bankers Association in the PGR: MBA and STRATMOR Peer Group Roundtables program. Find out more about STRATMOR on its website at https://www.stratmorgroup.com/.

News from Mortgage Capital Trading Inc.

Mortgage Capital Trading (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that the 2018 STRATMOR Technology Insight Study rated MCT as the leader in overall satisfaction, lender loyalty, and functionality effectiveness in the production pipeline hedging industry, according to survey respondents.

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This version of news story was published on ScoopCloud™ (ScoopCloud.com) - part of and © the Neotrope® News Network - all rights reserved.