In The News

Integration Establishes A Greater Level Of Granularity, Accuracy And Automation Of The Fee Process

ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today announced that its ClosingCorp Fees service is now integrated with OpenClose’s LenderAssist end-to-end loan origination system (LOS) and ConsumerAssist digital mortgage point-of-sale (POS) solution.

ClosingCorp Fees provides an automated fee solution that gives users immediate access to real-time closing costs with an audit trail and data-backed guarantee. The lights out integration will enable OpenClose’s POS and LOS users to instantly access and provide real-time, accurate third-party provider rates and fees to borrowers—the first time. Using the interface, lenders can easily generate, preview and deliver the Loan Estimate (LE) disclosure directly to their borrower. Lenders can adjust the loan characteristics and re-quote fees as needed, helping to ensure compliance and accelerate time-to-close metrics. In addition, lenders will also have access to comprehensive recording fees, transfer tax and property tax data on specific parcels at the county, local and other taxing agency levels.

“Our integration with ClosingCorp Fees bolsters our digital lending experience by providing real-time access to detailed loan fees. Thus driving efficiency and eliminating costly cures,” says Vince Furey, chief revenue officer at OpenClose. “Ultimately, our partnership with ClosingCorp will help our mutual customers’ transition to accurate, compliant and automated disclosure workflow. Ensuring fee accuracy and compliance throughout the entirety of the mortgage process.”

“Having access to accurate and complete closing cost and property tax data streamlined directly into OpenClose’s LOS and POS technology platforms, puts the most timely and compliant information directly into the hands of loan officers,” said Bob Jennings, ClosingCorp chief executive officer. “We are excited that OpenClose has chosen to partner with us to help further increase the efficiency of its clients and ultimately deliver a superior streamlined borrower experience is vital and, with this integration, OpenClose heightens our already premier experience.”