{"id":22211,"date":"2017-01-23T17:58:47","date_gmt":"2017-01-23T22:58:47","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=22211"},"modified":"2018-08-10T19:37:08","modified_gmt":"2018-08-10T23:37:08","slug":"openclose-and-mct-complete-new-integration-to-optimize-loan-hedge-positions-for-lenders","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/openclose-and-mct-complete-new-integration-to-optimize-loan-hedge-positions-for-lenders\/","title":{"rendered":"OpenClose and MCT Complete New Integration to Optimize Loan Hedge Positions for Lenders"},"content":{"rendered":"

PALM SPRINGS, Calif., Jan. 23, 2017 (SEND2PRESS NEWSWIRE) — Independent Mortgage Bankers Conference — OpenClose\u00ae<\/a> an enterprise-class, multi-channel loan origination system (LOS) provider, and Mortgage Capital Trading, Inc. (MCT)<\/a>, a leading mortgage hedge advisory\u00a0and secondary marketing technology firm, jointly announced they developed an integration that eliminates manual intervention and streamlines the delivery of loan data to maximize hedging for lenders.<\/p>\n

\"Mortgage
\nThe integration works by automatically taking loan-level details that are originated and locked in OpenClose\u2019s LenderAssist™ LOS and then securely passing them directly to MCT to hedge. The entire process of obtaining critical data becomes very easy, with updates occurring every 15 minutes. This removes several steps in the data acquisition process, saving time, reducing errors and providing faster reporting.<\/p>\n

\u201cWe worked diligently with the team at OpenClose to develop this connectivity between their LOS and our proprietary HALO hedging model<\/a>, which now facilitates a much smoother, quicker way for us to obtain locked loan information from our mutual customers,\u201d said Chris Anderson, chief administrative officer at MCT. \u201cWe are continuing to expand our integration partner network in order to provide the best service and support for our lender clients. Over the past few years, MCT has significantly expanded our business services with technology being a key area, especially with the adoption of our web-based secondary marketing platform, MCTlive!<\/a>\u201d<\/p>\n

The longer lenders are exposed to interest rate movements the more prone they are to have locked loans without hedge positions. As a result of the integration, MCT is able to hedge more frequently as opposed to having the lender manually send pipeline reports to them. The automatic updates are performed every 15 minutes which provides a tangible reduction in risk by shortening the time period between rate locks and hedge positions.<\/p>\n

As it relates to lenders, there isn\u2019t anything that they have to do to enable the new integration. MCT performs the heavy lifting and all parties benefit from the resulting efficiencies gained. OpenClose and MCT worked closely together from a technology perspective to streamline the process.<\/p>\n

\u201cThis integration saves my staff valuable time and transfers our data quickly and securely, ensuring that my hedge positions are always optimized,\u201d says Dan Beam, senior vice president of capital markets at Firstrust Bank. \u201cBoth OpenClose and MCT are forward-thinking companies that recognize the importance of investing in enhancements like this for the benefit of lenders.\u201d<\/p>\n

\u201cA key common thread between our organizations is an unwavering commitment to always provide excellence in customer support,\u201d said Vince Furey, senior vice president of lending solutions at OpenClose. \u201cWe are also like-minded in that we are both very selective about the organizations we partner with. OpenClose is pleased to expand our technology relationship with MCT.\u201d<\/p>\n

About OpenClose:<\/strong>
\nFounded in 1999 and headquartered in West Palm Beach, Florida, OpenClose\u00ae is a leading multi-channel loan origination system (LOS) provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent browser-based solutions for lenders, banks and credit unions. OpenClose\u2019s core solution, its LenderAssist™ LOS, is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform.<\/p>\n

The company provides lending organizations with full control of their data and creates a truly seamless workflow for comprehensive automation and compliance adherence. For more information, visit www.openclose.com or call (561) 655-6418.<\/p>\n

OpenClose Twitter:<\/strong> https:\/\/twitter.com\/openclosesocial<\/a><\/p>\n

About MCT: <\/strong>
\nMortgage Capital Trading (MCT) is a capital markets-focused risk management and advisory services company providing independent analysis, training, hedging strategy and loan sale execution support to clients engaged in the secondary mortgage market. Founded in San Diego, California in May 2001, the company has expanded to include field sales and support offices in Philadelphia, Dallas, San Francisco and Charlotte. MCT is a recognized leader in the industry and currently supports more than 150 clients on the HALO (Hedging And Loan sales Optimization) Program. The company also develops and supports MCTlive!™, an award-winning real-time, trading and best-execution secondary marketing platform.<\/p>\n

MCT\u2019s LockCentral™ is the industry\u2019s largest outsourced centralized lock desk service. For more information, please visit www.mct-trading.com or call (619) 543-5111.<\/p>\n

MCT Twitter:<\/strong> https:\/\/twitter.com\/mcttrading<\/a><\/p>\n

MEDIA CONTACT:<\/strong>
\nJoe Bowerbank
\nProfundity Communications, Inc.
\n949-378-9685
\njbowerbank@profunditymarketing.com<\/p>\n","protected":false},"excerpt":{"rendered":"

PALM SPRINGS, Calif., Jan. 23, 2017 (SEND2PRESS NEWSWIRE) — Independent Mortgage Bankers Conference – OpenClose(R) an enterprise-class, multi-channel loan origination system (LOS) provider, and Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing technology firm, jointly announced they developed an integration that eliminates manual intervention and streamlines the delivery of loan data to maximize hedging for lenders.<\/p>\n","protected":false},"author":5216,"featured_media":22210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,755,1,10,38,599,5],"tags":[6262,429,8302,10202],"class_list":["post-22211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-alliances-news","category-business-news","category-california-news","category-finance-news","category-cloud-saas-news","category-technology-news","tag-independent-mortgage-bankers-conference","tag-loan-origination-system","tag-mctlive","tag-profundity-pr","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":5527,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/22211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/5216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=22211"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/22211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/22210"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=22211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=22211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=22211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}