OpenClose and Cyberlink Software Solutions, we’re in the news!

We’re excited, the word about OpenClose and Cyberlink Software Solutions partnering is out. Together we’ve created a better, more robust MERS transaction management system for OpenClose clients. We’ve put together this list of links to our favorite articles. Hope you enjoy!

 

OpenClose & Cyberlink eRAMP Integration PR Coverage:

Publication: MortgageOrb

Publish Date: Wed. June 3rd

Article: https://mortgageorb.com/openclose-lenders-can-now-access-cyberlink-eramp-system


Publication: National Mortgage Professional Magazine

Publish Date: Wed. June 3rd

Article: https://nationalmortgageprofessional.com/news/75124/openclose-partners-cyberlink-software-ease-mers-process


PROGRESS in Lending Association

Publish Date: Fri. June 5th

Article: https://mymortgagemindset.com/capability-dramatically-speeds-up-the-time-to-register-and-transfer-loan-rights-with-mers/


Publication: CUInsight

Publish Date: Wed. June 1st

Article: https://www.cuinsight.com/press-release/new-integration-enables-openclose-lenders-to-automate-mers-loan-registration-and-transfer-via-cyberlinks-eramp-system


Publication:  Mortgage & Finance News

Publish Date:  Wed. June 3rd

Article: https://mortgageandfinancenews.com/news-new-integration-enables-openclose-lenders-to-automate-mers-loan-registration-and-transfer-via-cyberlinks-eramp-system-5819/

New Integration Enables OpenClose Lenders to Automate MERS® Loan Registration and Transfer via Cyberlink’s eRAMP System

WEST PALM BEACH, Fla., June 3, 2020 — OpenClose®, the industry-leading mortgage fintech provider and omni-channel loan origination system (LOS), and Cyberlink Software Solutions, a provider of optimization and development solutions for mortgage lenders, announced the completion of an integration that eases the time consuming and laborious method of registering loans one by one with MERS®.

Cyberlink’s eRAMP MERS Transaction Management solution integration works by taking bulk loans that OpenClose lender customers need to register or transfer with MERS, and processing this important task efficiently, quickly, and accurately regardless of the number of loans to submit. eRAMP data then updates OpenClose’s LenderAssist™ LOS, which includes registration confirmation dates as well as transfer of rights confirmation dates.

“We continuously look for opportunities to automate redundant tasks. The integration with eRAMP accelerates workflow, reduces errors and frees OpenClose users to work on other tasks,” stated Vince Furey, CRO of OpenClose. “We are pleased to introduce eRAMP’s MERS end-to-end transaction processing solution to our customers knowing that it will save them valuable time and money.”

eRAMP has been relied upon for MERS® transaction processing by lenders large and small since 2003. Whether it’s registering thousands of loans or a couple dozen loans, it’s done with the click of a mouse and with minimal manual intervention by the lender. Confirmation reports along with details are provided back to the lender from eRAMP.

“We’re always excited when we deliver new features that save time and reduce costs for our customers,” said Greg Uttal, president of Cyberlink Software Solutions. “Our goal is to secure additional business and accomplish more with less by way of technology. With the new OpenClose integration, we’re right on target to deliver value to our mutual customers.”

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® 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™, 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 Cyberlink Software Solutions:

Cyberlink Software Solutions, Inc. is a software development company that’s been creating innovative applications for mortgage professionals since 1995. We offer in-house developed software products and consulting services, including LOS implementation project management, LOS optimization consulting and MERS process improvement solutions. For more information, please call 800 518-0919 or visit https://www.oncyberlink.com.

Social Media: @OpenClose_LOS #MERSLoanRegistration #LoanOriginationSoftware #CyberLinkSoftwareSolutions #OpenClose

Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

LOS Integration flow

Enhanced data distribution option streamlines MERS transaction management for Encompass, OpenClose, LendingPad and many other LOS systems

WESTLAKE VILLAGE, CA April 24, 2020

A small enhancement is making a big difference for Encompass, OpenClose, LendingPad and other LOS users. The longest standing MERS transaction management system, eRAMP has made it much easier for LOS users to update dozens to thousands of loans in their systems with MERS transaction confirmation dates in minutes.

“Processing and updating one loan at a time is time consuming. Bulk processing is the way to successfully manage the fluctuations in loan production and gain maximum efficiency to reduce costs and errors when processing MERS loan transactions”, said Greg Uttal President of Cyberlink Software Solutions, Inc. developer of eRAMP for MERS. The bulk solution takes advantage of MERS data collected at time of loan registration and at transfer of rights so lenders can easily maintain MERS transaction status in their loan origination system in real time without manual data entry. Accurate records in the lender’s central point of data collection is important.

Using eRAMP’s new data distribution option expands the previous LendingQB full integration solution that has been available for many years. Now lenders have increased flexibility using eRAMP for MERS with more LOS systems than ever before.

About Cyberlink Software Solutions

Cyberlink Software Solutions, Inc. is a software development company that’s been creating innovative applications for mortgage professionals since 1995. We offer in-house developed software products and consulting services, including LOS implementation project management, LOS optimization consulting and MERS process improvement solutions. For more information, please contact Greg Uttal at 800 518-0919 or visit www.oncyberlink.com

IRS 4506-T Processing Suspended

HDMA ComplianceThe Coronoavirus effects mortgage loan processing with an immediate halt by the IRS to processing 4506-T requests. Effective immediately, 4506-T requests will not be processed by the IRS as it considers the impact of state and local shelter in place orders issued due to the COVID-19 outbreak.

A form 4506-T allows lenders to verify with the IRS the tax forms supplied by the applicant to prove their income match those in the possession of the IRS. The IRS can provide a transcript that includes data from these information returns.

As an alternative to obtaining tax transcripts from the IRS, applicants can download their tax transcripts and submit them directly to their lender. Visit the IRS website: https://www.irs.gov/individuals/get-transcript and follow the online request instructions. Applicants should verify with their lender if tax transcripts provided by the application will be accepted as tax return verification.

HOW CRM AND MARKETING AUTOMATION BRIDGES MARKETING AND SALES FOR MORTGAGE LENDERS

Why do mortgage lenders have a hard time bridging marketing and sales? The concept is simple enough. Create marketing messages that resonate with borrowers (or brokers, if you’re a wholesaler), blast your message to as many relevant leads as possible, in as many different ways as possible, then deploy your sales team to haul in the catch.

However, it’s not so simple in the mortgage lending world. The relationship nature of mortgage lending means loan officers essentially own their production, so they have the leverage to dictate how marketing is utilized. Many lenders simply prioritize production over marketing and wash their hands of the problem, leaving it up to branches to use whatever CRM or sales method they want, as long as it generates volume.

What lenders don’t realize is that by taking a laissez faire approach to sales and marketing, they are hurting themselves and their branches. Poor coordination of marketing efforts combined with a lack of visibility into sales and marketing performance inevitably leads to lost opportunities, lost revenue potential and a heightened risk of brand damage. When the banana split hits the fan (you know what I mean), branches and production superstars simply jump to a different shop, leaving you with banana split all over your face (again, you know what I mean).

We’ve worked with dozens of sales organizations, both inside and outside of mortgage lending, and this scenario is not unusual. We’ve found that the most successful organizations re-align the relationship between sales and marketing in a way that incentivizes them to actively work together. A CRM and marketing automation is core to enabling this symbiotic relationship.

Why are your top producers so good at what they do? Sure, there are certain intangibles that can’t be replicated, but when it comes down to it, top producers are “on top of their game.” They are accessible, organized, and responsive to borrower needs. In other words, they have good communication habits, with an emphasis on habits.

Automation of good communication habits is exactly what a CRM and marketing automation does. When an action occurs – say a borrower submits information on a website – the CRM captures lead information and automatically triggers another action, such as sending an email asking to schedule a meeting.

The loan officer has no idea this is going on because the engagement occurs automatically. The borrower is none the wiser either. They think they’re communicating with a live human being when the CRM is actually doing the talking.

Or rather, marketing is doing the talking for the loan officer because they generate the content of the communication. Marketing is responsible for creating various types of automated campaigns that speak in the voice of the loan officer that either generates spontaneous leads or retains lead engagement. Refi campaigns, FHA campaigns, birthday campaigns – CRM and automated marketing has the ability to reach out to leads for any type of scenario you can think of.

The outcome is that CRM and marketing automation fill in the communication gaps that exist when LOs aren’t on top of their game. The CRM acts like the most neurotic and OCD loan assistant you’ve ever seen, vigilant 24/7 for any opportunity to engage.

Consider the goldmine of leads every lender has stored in their LOS database. Any loan application, whether closed, rejected or withdrawn, is another opportunity for a loan. But how many loan officers, even top ones, remember to send a housewarming email 60 days after closing to their owner occupied purchase borrowers? Or a reminder to consider a refi 30 months into a 3/1 ARM? This is how you harness the power of CRM and marketing automation to generate real production without requiring a human being to take any action.

Rob Chrisman’s eponymous daily newsletter once asked why lenders take on the cost of hiring more loan officers when they could get more productivity out of the ones they already have. He hypothesized that through training, tools and marketing, a lender could increase each LOs production by 15%, yielding two LOs worth of volume without the hassle and cost of recruiters or signing bonuses. Lenders responded skeptically that only a portion of LOs would benefit from these types of investments and make the argument moot.

CRM and marketing automation is a feasible solution because it doesn’t require the LO to be proactively engaged in order to be successful. Whether a loan officer is an “A” player or a “C” player, the onus is on marketing to create the content and the automated campaigns. All the LO needs to do is reach out to the lead that marketing has generated. And with the CRM and marketing automation technology available from OptifiNow, it’s never been easier for lenders to build that bridge between marketing and sales.

Provided courtesy of:

Linn Cook
Vice President of Sales
OptifiNow
More Business - Less Work

Guaranteed Loan Estimate Quotes in LendingQB

I’m always looking for ways for our clients to optimize their lending operations. To me improving what we do every day is not an option, it’s a mandate. With that in mind when I find a way for my clients to do more business with less work, I’m interested in learning more. Here’s an example of a new service that will help a lot of our clients and other lenders.

Yesterday Jim Paoline at LodeStar give me a demo of their new loan estimate fee quote system. It was so easy to use and the LendingQB integration was a no brainer, so I wanted let everyone know about this new time savings solution.

The new integration with LendingQB allows lenders to save time and money by automating the fee quoting process for the Loan Estimate and Closing Disclosure.

You can instantly quote closing costs that are 100% guaranteed by LodeStar. Quotes include taxes, recording fees, and title costs. Click this link for a little more information about Lodestar’s Guaranteed Loan Estimate Quotes with LendingQB integration.

I’m not part of LodeStar and I’m not a Lodestar expert or a paid spokesperson, so if you would like more information or a demo reach out to Jim Paolino. Here’s Jim’s contact information:

Jim Paolino, CEO
LodeStar Software Solutions
jpaolino@lssoftwaresolutions.com
646-849-1701 (o) 401-255-5040 (m)

On the other hand, if you are looking for assistance with lending projects, MERS Transaction automation, LendingQB Optimization, BNTouch Mortgage Consulting, please remember Cyberlink Software Solutions. Visit our website site at www.oncyberlink.com for more information or better yet, give me a call.

Best regards,

Greg Uttal
Cyberlink Software Solutions, Inc.