*The Beauty In Simplicity*
**By Tony Garritano**
***Everyone is still talking about Facebook. They’re saying the IPO fizzled. Why? Facebook is now a multi-billion-dollar company. That seems like a success to me. The company turned our simple need to connect and socialize into a huge technology innovation. We can learn a lesson: There are a lot of simple things that can be revolutionized in our business by applying smart automation. Let’s start with all the rates and fees. For example, ClosingCorp, a provider of residential real estate closing cost data and technologies for mortgage lenders, real estate professionals and consumers, has added new functionality to its SmartGFE Service and SmartGFE Calculator related to reissue rates. Through these services, mortgage lenders are now able to select a title company offering discounted refinance rates for their borrowers. Here’s the story:
****“By adding discounted refinance rates to our service offerings, we are enabling mortgage lenders and title companies to provide their clients with the most accurate pricing information available and enabling borrowers to save money on their refinance transactions,” said Paul Mass, president of ClosingCorp.
****ClosingCorp continues to provide accurate closing cost data and efficient technologies to mortgage lenders and title companies, which enables them to provide the best service possible to their clients.
****The SmartGFE Service gives lenders the ability to instantly generate GFE data with actual rates for Blocks 3-8, which includes everything from title and settlement services, third-party real estate closing services, recording fees and transfer taxes. This automated system dramatically improves GFE and loan processing efficiencies, and comes with a compliance guarantee that protects lenders from RESPA-tolerance violations related to the above-mentioned blocks.
****The SmartGFE Calculator is a simple online tool that is embedded on a title company’s website to provide immediate pricing information to lenders for title and settlement services, recording fees and transfer taxes.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.