OpenClose LOS Offers GFE ‘Lockdown’ Feature

OpenClose Mortgage Software has enhanced the editing features in its loan origination software (LOS) to improve the accuracy of loan information included in lenders' good-faith estimates (GFEs).

The software upgrade enables lenders to lock down fields in the fee-maintenance and closing-cost scenarios modules. By checking a ‘Lock on GFE’ checkbox, a loan administrator can freeze the dollar value for that fee, so that it cannot be changed on the GFE by any originator or processor, OpenClose explains.

SOURCE: OpenClose

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