Home Equity LendingIn The News

Corporate Settlement Solutions Launches Enhanced Integration With GridBase To Improve Home Equity Lending

Corporate Settlement Solutions (CSS), a full-suite provider of commercial and residential real estate settlement solutions, announced an integration with GridBase, the universal Application Program Interface (API) for lender and title collaboration, to improve efficiencies within home equity lending. The CSS home equity solution taps GridBase technology to allow lenders to order CSS property reports, flood zone determinations and recordings directly within the Encompass LOS platform, reducing the time required for manual order entry and improving delivery times. Peoples Bank, a regional bank headquartered in Marietta, Ohio, with $9.3 billion in assets, is already using the new solution.

The integration is an expansion of the long-standing partnership between CSS and GridBase and enhances the services offered by CSS through the Encompass® by ICE Mortgage Technology™ platform. By reducing the time required for manual order entry and delivering property reports directly into a lender’s eFolder, the integration will help streamline the home equity origination process and reduce the overall loan production costs.  

“U.S. homeowners currently have more than $11 trillion in tappable home equity and are willing to use home equity products to increase their personal liquidity while preserving their historically low first-mortgage interest rates,” said Ashley Jelinek, CEO of Corporate Settlement Solutions. “Our integration with GridBase provides a fast, efficient title-lite solution that home equity lenders can access without ever leaving the Encompass environment.”

“Given the no- or low-cost economics of home equity originations, the greater efficiencies that technology can deliver often translate into improved margins,” said Ryan Peterson, President of GridBase. “We’re pleased to work with forward-looking title providers, like CSS, to enhance the home equity experience for our joint clients and their customers.” “Incorporating this technology with our home equity workflow has already delivered a notable lift in efficiency,” said Jennifer Tanner, AVP, Mortgage Processing with Peoples Bank. “The platform works well, is user friendly and saves us a lot of time.”