OSB Community Bank Adopts Nexus Closing by SimpleNexus to Support Hybrid Closings
July 20 2022 - 7:30AM
SimpleNexus (https://simplenexus.com/), an nCino (NASDAQ: NCNO)
company and developer of the United States’ leading homeownership
platform for loan officers (LOs), borrowers, real estate agents and
settlement agents, today announced that OSB Community Bank, a
subsidiary of Ottawa Bancorp, Inc. (OTCQX: OTTW), has implemented
SimpleNexus’ Nexus Closing™ to facilitate hybrid closings. The bank
will leverage Nexus Closing alongside Nexus Engagement™ and Nexus
Origination™— tools the bank has used for six years — to facilitate
a ‘from anywhere’ borrower experience from application to closing.
Founded in 1871, OSB Community Bank is an Illinois-chartered
commercial bank with loan officers operating out of branches in
Ottawa, Marseilles and Morris, Illinois. Director of Mortgage Sales
Dan Sabol credits SimpleNexus’ robust platform of digital mortgage
solutions as playing an important role in OSB Community Bank’s
ability to grow annual mortgage volume from $12 million to $125
million over the past six years.
“SimpleNexus provides a modern, easy-to-use interface for
customers, while helping our LOs give homebuyers the personalized
service that OSB Community Bank has prided itself on for more than
a century,” said Sabol. “More than offering our customers a unified
financing experience, Nexus Closing’s seamless integration with
Nexus Engagement and Nexus Origination will enable us to operate in
a more organized, efficient and productive manner.”
Nexus Engagement helps lenders and real estate agents
develop relationships with early-stage homebuyers through tools
such as integrated home search, instant chat and payment
calculators. Nexus Origination is a comprehensive point of
sale (POS) platform that enables borrowers to fill out loan
applications, eSign documents, check loan status updates and pay
mortgage-related charges through a feature called Nexus Pay. Nexus
Closing supports all types of mortgage closings, from
traditional to hybrid to full eClosings. The entire SimpleNexus
suite can be accessed by borrowers, lenders and other authorized
stakeholders from anywhere through a single, sign-on portal.
“For organizations producing billions of dollars in mortgage
volume to community lenders like OSB Community Bank, SimpleNexus
curates a frictionless homebuying experience that delights
borrowers and promotes operational efficiency from start to
finish,” said SimpleNexus Chief Product Officer Shane Westra. “OSB
Community Bank brilliantly models how SimpleNexus can be used to
keep LOs, real estate agents and homebuyers connected throughout
the loan lifecycle, while achieving faster conversion times and
growing origination volume.”
About SimpleNexusSimpleNexus, an nCino (NASDAQ:
NCNO) company, is an award-winning developer of mobile-first
technology for the modern mortgage lender. U.S. lenders depend on
our namesake homeownership platform to unite the people, systems
and stages of the mortgage process into a seamless, end-to-end
solution that spans engagement, origination, closing and business
intelligence. By helping lenders manage their teams and stay
connected with borrowers and real estate professionals, we deliver
a measurable return on investment in the form of reduced turn
times, increased loan application submissions and more referral
business. A four-time Inc. 5000 company, SimpleNexus has been
recognized as one of the world’s Best Workplaces for Innovators.
For more information, visit https://www.simplenexus.com or
follow @SimpleNexus.
Media ContactsLeslie ColleyDepthPR for
SimpleNexus+1 678.622.6229 leslie@depthpr.com
David BolinSimpleNexus+1 414.688.6077dbolin@simplenexus.com
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