ClosingCorp’s Loan Estimate Service is now integrated with INTEGRA Software Systems’ web-based Epic and Destiny Loan Origination Systems (LOSs). ClosingCorp’s Loan Estimate Service currently provides users with validated fee information to populate the new Loan Estimate (LE) mandated by the TILA-RESPA Integrated Disclosure (TRID) rule. Additionally, the solution still delivers the required RESPA-compliant Good Faith Estimate (GFE) data for applicable loan types.
The service incorporates client-specific business rules to deliver correct fee and tax information in each estimate and notifies users should transfer tax, recording fees or vendor estimates change. It also provides a complete audit trail, Settlement Services Providers List (SSPL) support and an ability to flag estimates from affiliates that must be managed to the new zero variance requirement.
ClosingCorp provides fully-managed, vendor-verified rates and fees from nearly 20,000 unique real estate service providers covering every geographic area in the nation. The company also guarantees the accuracy of the loan estimates.
“ClosingCorp and INTEGRA 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 Brian Benson, CEO of ClosingCorp. “The ability for our clients to quickly access and accurately quote multiple fees from a range of service providers in real time is essential to streamlining the application disclosure process and is critical for compliance with TRID.”
“At a period when real time information is crucial, ClosingCorp is providing a service that everyone originating mortgages will want,” said Rick Allen, senior vice president of INTEGRA operations. “Our user acceptance testing for TRID is complete, and our clients are ready to generate the new integrated disclosures with confidence. INTEGRA Software Systems is proud to have a tightly integrated interface to ClosingCorp’s service.”