ClosingCorp, a San Diego-based provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, has announced that Springboard CDFI, doing business as Springboard Home Loans, a not-for-profit mortgage lender working to expand homeownership, is now using its SmartFees solution.
According to ClosingCorp, SmartFees is an automated fee solution that delivers real-time, accurate closing cost data from more than 20,000 individual service providers to populate the appropriate disclosures.
As reported, Springboard will now be able to expedite loan estimate and closing disclosure production through its integration with ClosingCorp and Ellie Mae’s Encompass mortgage management solution.
“As a not-for-profit lender, our mission is to bridge the wealth gap in America by providing scaled solutions and access to capital for underserved communities,” says Gabe Del Rio, president of Springboard CDFI. “Working with ClosingCorp’s Smart Fees brings us best-in-class accuracy and efficiency while providing a completely transparent closing process for our partners and borrowers.”
“We are excited about our association with Springboard and the important role it plays in financing homeownership for aspiring first-time home buyers,” says Bob Jennings, CEO of ClosingCorp. “We continue to be dedicated to providing solutions that help automate the residential real estate transaction process while helping our lender clients improve cycle times, increase efficiencies and remain compliant at all times.”