Vendor Details

2.5 (2)

OpenClose


Description

OpenClose is a pioneer of web-based mortgage lending solutions for the financial industry. It provides a variety of Web-based products for credit unions, banks, and mortgage lenders from loan origination, loan pricing, website design and social media marketing. OpenClose Social is a social media marketing management tool that allows a single person to effectively listen, talk to, and engage a large audience with minimal effort. Monitor your competitors, measure consumer sentiment, one-click publish updates to your favorite Social Media sites, and get tools to turn consumers into leads with a measurable ROI.

Service(s)

  • Point of Sale (POS)
  • LOS
  • Business Intelligence (BI)
  • Product and Pricing
  • Training

Location

,
United States

Year Founded


Ratings & Reviews

2.5

Cost/Value
4.0 (2)

Implementation
3.0 (2)

Support
3.5 (2)

Technology
2.5 (2)

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Anonymous Reviewed on 5/23/2023 3:06:56 PM
1 Left Encompass for Open Close
Don't get lured by the "cost savings" over the new Encompass pricing as your contract renews. On the surface the system is cheaper but it has VERY FEW or NO integrations. The system is built on 3 different sql databases as there are 3 primary keys and none of the databases autopopulate the others. They have nothing comparable to dynamic data management, Field data entry rules, milestone completion rules, print rules, etc. Fees cannot be automated without entering the Smart Fees agreement with Corelogic. OC has nothing as comprehensive as Mavent. There are no dashboards (without extra cost using antiquated Crystal reports). Reports have limited field options, column headers cannot be customized which makes them very difficult to use. Administrators have no ability to create custom forms (this is a extra fee and has to be performed by OC support at a very SLOW turn-time). The pricing engine is not friendly and no where near the capability of Optimal Blue or even Encompass Product and Pricing. In fact you, the client, have to map the 1000's of products to get the pricing engine to display correctly (and ours doesn't display properly now). If you are considering this product, take your time and vet everything. The potential impact of compliance violations alone will cause this system to cost way more than you bargain for. In addition, productivity will be negatively impacted due to all the "manual" processes you will have to revert to have 70% of the function you have in Encompass.

Anonymous Reviewed on 4/17/2023 9:14:45 PM
4 Solid platform, very cost-effective
Implementation could have been a lot better. Had to navigate a lot on our own, but we managed. Once up and running the platform has been pretty easy to adopt to. Much better than Calyx.


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