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Startup Lender Makes Selection on LOS By James Comtois FORT LAUDERDALE, FL-After recently going from being a brokerage to a mortgage banking company, Atlantic Coast Mortgage sought a loan origination software designed for lenders that provided an end-to-end system that accepted both branch and broker originations. Ultimately, the start-up lender selected OpenClose Solutions' web-based, end-to-end automated mortgage system for loan processing. OpenClose, a West Palm Beach, Fla.-based mortgage software developer, offered Atlantic Coast Mortgage a system to automate every key front- and back-end operation, including support for underwriting, closing, post-closing, secondary marketing, funding, shipping and reporting. According to Howard Levine, president of Atlantic Coast Mortgage, pricing and simplicity were two major factors in choosing the OpenClose LOS. "OpenClose provided the best solution because it is a complete system, with a hassle-free price," he said, adding, "Most of their competitors tried to charge for extra add-ons, but OpenClose prices the system as one package with all its features available." Mr. Levine added that the system's web environment, private labeling and benefits to a small staff as key factors in their decision. OpenClose's web-based software enables Atlantic Coast Mortgage to originate and process loans from any location, including home-based staff. OpenClose also helps the company's growing staff streamline the loan process, which helps clients close loans quicker and more accurately. "We're here to help lenders of all sizes maximize their current business as well as avenues for new originations," said Jason Regalbuto, president of OpenClose. "OpenClose provides Atlantic Coast with a comprehensive system that can handle their loan originations, pricing, underwriting, closing and secondary marketing. We give them the ability to help their brokers originate loans with ease and security." This integration was announced at The National Association of Mortgage Brokers annual convention in Indianapolis.

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