LA JOLLA, Calif.--(BUSINESS WIRE)--ClosingCorp, a leading provider of residential real estate closing cost data and technologies for mortgage lenders, real estate professionals and consumers, announced today that Pleasanton, Calif.-based Ellie Mae® will provide its SmartGFE® Service 2.0 to the company’s lender customers through its mortgage management software, Encompass360®. SmartGFE 2.0 provides an online solution that gives users fast access to RESPA-compliant GFE data, audit trail and a compliance guarantee.
“ClosingCorp and Ellie Mae are dedicated to providing solutions that help automate and streamline the residential real estate transaction, helping its lender clients remain compliant while improving efficiencies and control,” said Paul Mass, president of ClosingCorp. “By giving its clients access to the SmartGFE 2.0, Ellie Mae is helping to deliver the key GFE data all lenders need today in a timely manner.”
The SmartGFE Service 2.0 requires virtually no user interaction and instantaneously generates real-time, geocoded rates for GFE Blocks 3-8 from thousands of preferred providers throughout the U.S. The system incorporates client-specific business rules to deliver correct fees in each quote and immediately notifies users should transfer tax or recording fees change. It also provides a complete audit trail and a compliance guarantee, while eliminating the time-consuming burden of managing templates and tables. Since the SmartGFE is designed for efficient data mapping, it will easily accommodate the Consumer Financial Protection Bureau’s (CFPB) proposed disclosure changes.
About ClosingCorp
ClosingCorp is the leading provider of residential real estate closing cost data and technologies for mortgage lenders, real estate professionals and consumers to save them time and money on residential real estate transactions. Through its network of nearly 12,000 real estate service providers, the company maintains the most comprehensive database of up-to-date closing costs, including recording fees and transfer taxes, for all residential properties in America. This valuable data is delivered quickly and efficiently to clients via ClosingCorp’s innovative technologies, such as SmartGFE®, SmartGFE® Calculator, SmartClosing℠ Mortgage Calculator, DART℠, SmartOrder℠ and Closing.com. To learn more visit www.closing.com.
Ellie Mae® and Encompass360® are registered trademarks of Ellie Mae, Inc.