The integration provides lenders using INTEGRA's LOS with access to real rate, fee and tax data, change-in-circumstance tracking and the ability to manage affiliates to zero variance, ClosingCorp says in a release.
ClosingCorp's Loan Estimate Service provides users with validated fee information to populate the new loan estimate disclosure mandated by the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosure rule. Additionally, the solution delivers the required RESPA-compliant good faith estimate 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, the company says. 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.