Real estate document and data company Simplifile announced on Wednesday its integration with LendingQB, a provider of browser-based end-to-end mortgage loan origination software. The company will integrate its Collaboration and Post Closing systems.
LendingQB users will be able to create loan records to initiate data and document sharing with settlement providers, collaborate and exchange closing disclosure data with settlement agents, communicate in real time and gain immediate insight into any changes made by settlement.
Tim Nguyen, President of Simplifile, expressed the importance of incorporating a streamlined system for mortgage lenders. “In today’s lending environment, it is critical that lenders be able to seamlessly share data between loan production, settlement and all other key parties,” he said. “This partnership with Simplifile enables users to ensure that changes made by settlement agents are immediately updated in the loan file.”
Simplifile Collaboration enables lenders to work directly with their settlement partners to share, receive, and validate documents and data by providing a platform for collaborating on fee data, documents, and transaction details, while Simplifile Post Closing informs lenders automatically on the recording status of documents and delivers the final title policy and fee data electronically, thus closing the loop on the entire mortgage transaction.
“When lenders are more connected to their settlement partners, the mortgage closing process becomes much smoother, and there is a demonstrable effect on reducing the errors and miscommunications that can lead to compliance errors,” said Simplifile President Paul Clifford.