VizionX Introduces New Closing Fee Technology
VizionX, a title technology provider focused on driving the next generation of PropTech, has launched its premier offering, VizionX Fees, within their Xchange platform. VizionX Fees is a closing cost calculator with instant access to the current data of numerous national title insurance companies.
Xchange’s seamless access to the updated fee data of multiple national title underwriters ensures that users receive accurate title, closing, recording and other vendor fees for TRID-mandated loan estimates or closing fee estimates. VizionX Fees also enables loan officers to create branded fee estimates as well as empowering users to instantly see all service provider fees within a specific geographic market. Additionally, Xchange integrates tightly with several popular LOS technologies, such as Encompass® by ICE Mortgage Technology, for workflow efficiency.
According to VizionX President, Kevin Mazur, most other closing fee technology providers require clients to depend on them for data updates, forcing clients to wait on those providers to update fees when needed and causing a bottleneck. VizionX Fees, however, enables users to update closing fee data themselves, sidestepping the wait time. According to Mazur, the difference highlights VizionX’s core focus on client service.
“We’ve heard that there has been an erosion of the client service levels of some of the largest tech providers in the mortgage and title technology space, resulting in slower response rates,” said Mazur. “But, at a time when accurate data is no longer a luxury, but a necessity for loan officers seeking to compete in their markets, there’s no time to wait on provider updates or slow turn times in general. That’s why a priority on service is one of VizionX’s foundational principles.”
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