LenderLive Helps Caliber Funding Streamline GFE Process

Posted by Orb Staff on April 20, 2010 No Comments
Categories : Residential Mortgage

LenderLive Network Inc., a provider of business process outsourcing and technology, reports that it has helped Arizona-based Caliber Funding LLC streamline the up-front disclosure and good-faith estimate (GFE) issuance process for brokers by creating completed, signature-ready documents.

Caliber started its partnership with LenderLive in 2007 with document preparation for back-office services. As more broker-specific regulations have been put into place, Caliber wanted to make it easier for brokers to meet regulatory requirements, explains the company's chief strategy officer, Phil Shoemaker.

"We realize that brokers are struggling to stay in business and any services we can offer them will help the origination experience as a whole," he says. "The obligatory requirements of RESPA reform made broker origination even more difficult. We relied on LenderLive because of the company's knowledge of what is needed in the originations process and its sound technological infrastructure."

Caliber has built a front-end broker portal that helps brokers create RESPA-compliant GFEs prepared by the Guardian Mortgage Documents forms engine, which is owned by LenderLive. The company says it evaluated five of the top service providers in the industry for four months and selected LenderLive because of its technology, its agility and flexibility in making systems changes, and its pricing model.

Caliber expects to expand its relationship with LenderLive in the future by integrating e-signature capability into its up-front disclosure process.

SOURCE: LenderLive Network Inc.

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