Colony American Finance Implements OpenClose’s LOS Platform

OpenClose has announced that Colony American Finance (CAF) has implemented the OpenClose loan origination platform.

To support its new Single Asset loan product across correspondent, wholesale and retail channels. Colony American Finance is focused on first launching OpenClose’s standalone correspondent module, OC Correspondent, for its turnkey capabilities. Implemented in under 45 days, this Web-based standalone solution enables Colony American Finance to fully automate its new conduit business.

OpenClose’s OC Correspondent module incorporates a seller-facing Web portal that allows correspondents to electronically deliver loans to Colony American Finance for purchase, access instant eligibility and pricing, automated lock desk functions, real-time pipeline status, and comprehensive cure condition and purchase advice workflow.

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