Partnership Enhances Automated Ordering Capabilities for Title and Settlement Services
August 13, 2013
ClosingCorp, a provider of residential real estate closing cost data and technologies for mortgage lenders, real estate professionals and consumers, has expanded its relationship with RamQuest Inc., a provider of business solutions for title and settlement agents. The companies, which initially partnered in March 2012, further enhanced the automated ordering capabilities they provide to mortgage lenders and title and settlement providers.
Lenders access ClosingCorp’s SmartGFE Calculator via a title company’s website to generate accurate rates and to place orders for title and settlement services. Orders are then delivered to RamQuest’s Closing Market digital network for its clients to integrate into their standard workflows. The system now provides even more comprehensive property information, loan data and contact details for borrowers, sellers and lenders within each order. Orders include a PDF summary of estimates for title and settlement rates, recording fees and transfer taxes. Payoff data for refinance transactions and any special instructions or important notes are included as well.
“SmartGFE Calculator and Closing Market customers can experience significant advantages from linking cost estimate data to instant online orders and ultimately the complete ordering management process,” said Tim Armbruster, chief technology officer and senior vice president of ClosingCorp. “Based on customer feedback, we collaborated with RamQuest to improve the system to help lenders as well as title and settlement agents further expand the efficiencies afforded by a completely automated transaction.”
The SmartGFE Calculator is available on a title company’s website for lenders to generate title and settlement rates, accurate recording fee and transfer tax costs. Closing Market facilitates order entry, promoting communication and visibility among multiple parties throughout the closing process.
“The data integration improvements that we have made with this release provide our clients with the information they need to be productive and expedite the closing process,” said Brooks Yeager, director of Internet Services for RamQuest.