ClosingCorp Integrates Its Loan Estimate Module Within Empower LOS

Posted by Patrick Barnard on September 09, 2015 No Comments
Categories : Residential Mortgage

San Diego-based ClosingCorp, a provider of residential real estate closing cost data and technology, says that its Loan Estimate Module is now available through Black Knight's Empower loan origination system (LOS).

In addition to the Loan Estimate Module's current offerings, including access to data that is compliant with the Real Estate Settlement Procedures Act (RESPA), audit trails and a data guarantee for the good faith estimate, the module will soon be able to provide validated fee information to populate the new loan estimate mandated by the TILA-RESPA Integrated Disclosure (TRID) rule, which will go into effect Oct. 3.

According to ClosingCorp, this integration will incorporate client-specific business rules to deliver accurate fees for each estimate and will inform loan officers when transfer tax or recording fees are scheduled to change. It also provides a complete audit trail and an enhanced ClosingCorp guarantee.

‘Not only will this support our clients' TRID initiatives, but it will also help improve operational efficiencies and control,’ says Richard Gagliano, managing director of origination solutions for Black Knight's origination technologies division.

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