OpenClose vs Loancrate
Loan Origination Systems head-to-head · axis by axis, same rubric for both
MeridianLink
Loan Origination Systems
| Axis | OpenClose | Loancrate |
|---|---|---|
| Production impact | 3.7 | 2.3 |
| Functionality & depth | 4.3 | 2.3 |
| Integrations & ecosystem | 3.3 | 1.8 |
| Adoption & support | 4.0 | 2.5 |
| Return on spend | 3.3 | 2.3 |
| Overall | 3.7 | 2.2 |
OpenClose wins 5 of 5 axes. Same rubric, same weights, no sponsorships.
What the rubric says
OpenClose and Loancrate are both scored in Loan Origination Systems. OpenClose carries an overall of 3.7, Loancrate an overall of 2.2. The widest gap between them is Functionality and depth, at 2 of a point. That axis measures whether it handles the messy loans and not just the clean file. OpenClose takes it, 4.3 to 2.3.
Where the five axes separate
On Functionality and depth the record favours OpenClose, 4.3 against 2.3. On Adoption and support the record favours OpenClose, 4 against 2.5. On Integrations and ecosystem the record favours OpenClose, 3.3 against 1.8.
Pricing posture
OpenClose does not publish pricing. Its listed model is quote only; vendor states terms are structured per customer. Loancrate does not publish pricing. Its listed model is quote only, scoped by stack, loan volume and team size.
Deployment and who each one targets
Deployment for OpenClose: Cloud, browser-based since 2003. Deployment for Loancrate: Cloud. Segment focus for OpenClose: Credit unions, community banks and mid-size mortgage bankers plus their TPO channels. Segment focus for Loancrate: Not stated by the vendor; aimed at lenders whose bottleneck is document review. The two entries name different buyers.
What each record credits
OpenClose: Fast deployment, usually two to six weeks against three to nine months for Encompass, which changes. Loancrate: Intake documents get classified and renamed automatically, with validation built.
What each record holds against them
OpenClose: Smaller market presence than the platforms above it, with a correspondingly thin pool of experienced administrators. Loancrate: Not one integration partner named anywhere, only vendor categories.
Which one fits which shop
Best fit for OpenClose: Mid-size lenders running multiple channels who want to modernize off a legacy LOS without a nine-month. Best fit for Loancrate: A lender drowning in document intake and manual condition creation.
The short answer
OpenClose finishes ahead on the published rubric, 3.7 to 2.2. The margin comes mostly from Functionality and depth. Same rubric, same weights, no sponsorships.
Both tools are scored on the same weighted rubric, production impact carries the most weight. Comparisons are never sponsored. Disclosure →