Technology is always moving forward. For example, OpenClose, an enterprise-class, multi-channel loan origination system (LOS) provider, has released version 4.0 of OC Optics, a web-based analytics and reporting system that integrates tightly with its LenderAssist LOS platform. The enhancements provide clients with more control, added functionality, and robust editing and configuration tools that effectively customizes data analysis and reporting outputs. Here’s how it works:
OC Optics 4.0 provides detailed analytics and up-to-the-minute reporting using an easy-to-configure dashboard-level user interface, which has been significantly enhanced to empower clients with more editing and report creation tools while becoming more self-sufficient. Using OC Optics 4.0, lenders can view all metrics in a single graphical interface from multiple sources such as production, secondary marketing underwriting, processing, closing, post-closing, accounting, etc.
The module utilizes business critical data to produce rich graphs, charts, performance management tools and more. As a result, organizations are able to execute intelligent, profitable business decisions while managing risk across the enterprise including other locations and branches.
Michael Luu, EVP of national production at Residential Bancorp, commented: “OC Optics has proven to be a critical enterprise management tool for our business. The system enables us to efficiently analyze and slice data across multiple origination channels. The extracted data helps us make better, more informed and faster decisions, and automatically deliver essential business management reports on a predefined schedule.”
Version 4.0 of OC Optics allows permissioned users to leverage the multi-channel capability of OpenClose’s LenderAssist LOS to separately analyze various activities occurring in retail, wholesale, correspondent and consumer direct lending channels. Detailed reports can be created for any business channel as well as specific functions and processes within those channels.
“Often, important information is trapped in Excel spreadsheets located in various functional areas within an organization, which renders it either useless or onerous to make sense of for business decisions,” said Vince Furey, SVP of lending solutions at OpenClose. “One of the biggest advantages of OC Optics is that it provides clients with more autonomy and options to easily tap into information to create custom reports in the form of charts, graphs, dashboards and individual reports.”
Directly from the dashboard, users are able to extract key information and populate it into a useful reporting presentation format that provides enterprise-wide management metrics and performance reporting from all desired business areas. This provides management with the oversight and intelligence to fully understand departmental and employee productivity and shows where areas for improvement and greater profitability can be realized.
OC Optics 4.0 can be accessed via any web browser, tablet device or smart phone. The system combines highly configurable management dashboard tools that integrate seamlessly with OpenClose’s LenderAssist™ LOS to optimize the use of captured data.
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.