ClosingCorp recently announced it has rebranded its Loan Estimate (LE) and Good Faith Estimate (GFE) solutions as SmartFees, which will allow lenders to automatically deliver real-time, accurate closing cost data and populate the appropriate disclosures.
SmartFees provides lenders with a single, seamless process and platform that integrates loan file information, transfer tax and recording data, service provider fees, and lender business rules and requirements. SmartFees is unique from other solutions in that it produces actual fee data from more than 70,000 rate cards (not estimates) through the ClosingCorp Network.
The ClosingCorp Network is comprised of 20,000 nationwide individual service providers divided into 30 categories, including title, settlement, and appraisal.
“As the residential mortgage industry continues to evolve, lenders need efficient and effective solutions to improve revenue potential and mitigate the risk of costly tolerance violations,” said Bob Jennings, Chief Executive Officer of ClosingCorp “SmartFees is our flagship offering, and as such, we will be focusing on usability, additional loan types and other critical items to help our clients forge ahead with confidence.”
ClosingCorp, based in San Diego, is a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries.