Mortgage Lenders, Customers Can Access Web-Based Origination Channels, Collaboration Tools
GLASTONBURY, Conn.--Bellevue, Wash.-based Netupdate, Inc., a provider of Web-based online point-of-sale technology for the mortgage lending industry and Open Solutions Inc., a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and international markets today announced that they have signed a partnership referral agreement. According to the terms of the agreement, Open Solutions will provide its clients with integrated access to Netupdate’s Originator Pro technology solution.
Netupdate’s Originator Pro is an integrated, online point-of-sale solution that helps lenders increase and generate additional business from the Internet. Borrowers can initiate loan applications and check the status at any time. Lenders are able to communicate critical information and updates to multiple parties, including realtors, builders and borrowers, generating efficiencies throughout the entire process.
Through this partnership, Open Solutions’ clients will now have access to a 24-hour origination channel, improved collaboration tools and the ability to automatically move loan data to the Open Solutions mortgage loan origination system, reducing the time, cost and complexity of these transactions. Open Solutions’ integrated loan origination applications are designed to enhance lending profitability by reducing operating costs and increasing staff productivity. Partnering with Netupdate further enhances these capabilities and gives Open Solutions’ clients more of a competitive advantage.
“We look forward to partnering with Open Solutions and bringing additional value to its loan origination software clients through our newly forged partnership,” said Diane Holmstrom, CEO of Netupdate. “We are delighted to provide Originator Pro, which gives Open Solutions mortgage lending clients a business channel with 24-hour-a day access via the Web.”
Open Solutions Senior Vice President and Chief Marketing Officer Mike Nicastro said, “Continually improving and enhancing our technology offerings to better meet our clients’ business needs is at the core of the Open Solutions philosophy. We look for opportunities to partner with industry leaders who share this same commitment to excellence. Given the current state of the mortgage industry, it is even more critical to provide sophisticated and agile loan origination tools to our lending clients. As a complement to our own suite of LOS technology, we are pleased to enter into this partnership with Netupdate, further streamlining a traditionally arduous process, and providing our clients the added flexibility to meet the demands of potential borrowers.”
About Netupdate, Inc.
Based in Bellevue, Wash., Netupdate, a developer of lending technologies, offers Originator Pro, an integrated, online point-of-sale system for retail and wholesale lenders who want to increase business from the Internet. Netupdate’s Software as a Solution allows mortgage professionals to work together online to collect borrower information, provide regular communication and status updates, and to move loan data to loan origination systems. This significantly reduces the time, cost and complexity of these financial transactions. For more information on Netupdate, visit the company’s Web site at www.netupdate.com.
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, network services, HSAs, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
