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OpenClose announces mortgage software for CUs

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WEST PALM BEACH, Fla. (4/3/09)--OpenClose, developer of Web-based mortgage lending software, announced it has launched MemberAssist, a credit union-specific mortgage software platform. “MemberAssist enables credit unions to increase efficiencies in the lending process by integrating member application data into the same system used to process the loan,” said J.P. Kelly, OpenClose president of operations. The solution provides credit unions with tools to push information--such as loan rates, products and online mortgage applications--to members and prospective borrowers through online channels. Its software can be configured as a stand-alone website or integrated into an existing site. MemberAssist is the newest addition to the OpenClose AssistSeries, which is a full mortgage software suite.

Cypress adds NADA used-car guide to Mark IV module

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NORTH RICHLAND HILLS, Texas (4/3/09)--Cypress Software Systems has added two trade-in value categories, “Rough Trade-In” and “Average Trade-In” from the NADA Used Car Guide, to its Mark IV Automobile Valuation Interface Module. The categories join the existing “Clean Trade-In,” “Clean Loan” and “Clean Retail” values. Mark IV, a loan software platform, automates the consumer loan application and decision process. Member service representatives key in application information into the software, and then receive credit reports, sources of repayment and loan policies to help speed up the loan decision process. Cypress Software Systems develops automated credit-application-decision support technology for financial institutions, including credit unions.