OSB Community Bank Adopts Nexus Closing by SimpleNexus to Support Hybrid Closings
Long-time Nexus Engagement and Nexus Origination customer implements Nexus Closing to provide an end-to-end, single sign-on experience for homebuyers
LEHI, Utah, July 20, 2022 (GLOBE NEWSWIRE) — 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 SimpleNexus
SimpleNexus, 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 Contacts
Leslie Colley
DepthPR for SimpleNexus
+1 678.622.6229
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David Bolin
SimpleNexus
+1 414.688.6077
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