TheLOSDirectory

OpenClose

Full LOS

OpenClose is a 100% browser-based mortgage LOS that uniquely combines POS, LOS, product and pricing engine, and business intelligence in a single platform, now part of MeridianLink, with a reported 50% reduction in loan manufacturing costs.

Small-to-mid depositories and mortgage lenders that want a 100% browser-based, multi-channel mortgage platform combining POS, LOS, PPE, and BI in one system

BanksCredit UnionsMortgage Lenders
Mortgage Cloud

Quick Facts

Company
MeridianLink (acquired)
Founded
1999
HQ
West Palm Beach, FL
Best Fit
Small to Midsize
Pricing
SaaS subscription (per-user or per-loan volume tiers)
Market
Established presence among mid-market depositories; now part of MeridianLink portfolio
Visit MeridianLink (acquired) →

Overview

OpenClose is a 100% browser-based mortgage LOS suite that unifies digital point-of-sale, loan origination, product and pricing engine, and business intelligence into a single platform. Acquired by MeridianLink, it now serves as a key component of MeridianLink's mortgage technology portfolio. OpenClose's differentiator is the all-in-one architecture — rather than stitching together separate POS, LOS, and PPE systems, everything runs on one codebase with shared data. The company reports that this unified approach reduces the cost to manufacture loans and shortens cycle times by up to 50%, a claim supported by its multi-channel capabilities spanning retail, wholesale, correspondent, and consumer-direct channels.

Key Features

  • ▸ 100% browser-based unified POS + LOS + PPE + BI platform
  • ▸ Multi-channel support (retail, wholesale, correspondent, consumer-direct)
  • ▸ Built-in product and pricing engine with live rate locks
  • ▸ Digital borrower portal with mobile-optimized application
  • ▸ Automated compliance engine with disclosure tracking
  • ▸ Document management with e-signature integration
  • ▸ Business intelligence and reporting dashboards
  • ▸ Configurable workflow automation and task routing
  • ▸ Secondary market delivery and investor connectivity
  • ▸ Loan officer CRM and pipeline management

Pricing

What we know about OpenClose pricing:

Estimated $150–$500/user/month; implementation $25K–$75K

Like most enterprise LOS vendors, MeridianLink (acquired) doesn't publish standard pricing. Quotes are customized based on institution size, loan volume, and module selection. We recommend requesting all-in three-year TCO quotes that include implementation, training, and ongoing fees.

Core Banking Integrations

OpenClose offers pre-built integrations with the following core banking platforms:

FiservJack HenryFISSymitar

Ideal Customer Profile

Asset Size
$200M–$10B
Loan Volume
100–2,000 mortgage loans/year
Staff Size
5–50 mortgage origination staff
Best When
You want to consolidate POS, LOS, and pricing into a single platform and you value multi-channel flexibility across retail, wholesale, and correspondent

Pros & Cons

Strengths

  • ✓ Unified POS+LOS+PPE eliminates multi-vendor integration headaches
  • ✓ Reported 50% reduction in cost to manufacture loans
  • ✓ 100% browser-based — no desktop installations or plugins
  • ✓ Strong multi-channel capabilities for diversified lenders
  • ✓ Now backed by MeridianLink's resources and broader product suite

Limitations

  • ✗ Mortgage-only — no consumer or commercial lending modules
  • ✗ Mid-market positioning means less proven at high enterprise volumes
  • ✗ MeridianLink acquisition creates overlap with MeridianLink Mortgage product
  • ✗ Smaller ecosystem than Encompass for third-party integrations
  • ✗ May face strategic uncertainty as MeridianLink rationalizes mortgage products

User Reviews & Reputation

G2
2.8 (2)
View reviews →

Review scores and snippets from third-party sources. Ratings reflect aggregate user reviews and may change over time.

Frequently Asked Questions

How much does OpenClose cost?
OpenClose pricing is estimated at $150–$500 per user per month with implementation costs of $25K–$75K. The all-in-one architecture that combines POS, LOS, PPE, and BI eliminates the need for multiple vendor subscriptions, which can make the total cost of ownership more competitive than it initially appears.
Does OpenClose integrate with Fiserv and Jack Henry?
Yes. OpenClose integrates with major core banking platforms including Fiserv, Jack Henry, FIS, and Symitar. These integrations support depositories that need connectivity between their core banking system and OpenClose's unified mortgage origination platform.
Is OpenClose good for multi-channel mortgage lenders?
Yes, OpenClose is specifically designed for lenders operating across retail, wholesale, correspondent, and consumer-direct channels. Its unified POS, LOS, and pricing engine platform means all channels share the same data and workflows, eliminating the multi-vendor integration challenges that multi-channel lenders typically face.
How does the MeridianLink acquisition affect OpenClose?
OpenClose was acquired by MeridianLink and now serves as a key component of their mortgage technology portfolio. While the acquisition provides stronger financial backing and broader product integration opportunities, it creates some overlap with MeridianLink Mortgage, and buyers should clarify the long-term product roadmap.

Last updated: April 4, 2026

Looking for AI-powered underwriting that works alongside OpenClose? Aloan integrates with any LOS.