ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, today announced it has joined Blends data-driven consumer lending ecosystem. Lenders using Blends platform will now be able to instantly access real-time third-party provider rates and fees from over 20,000 service providers.
The integration gives lenders the ability to manage fees delivered by SmartFees within Blends point-of-sale (POS) system and the lenders commercial loan origination system (LOS). This makes ClosingCorp a single-source of fee information since the data file created in Blends platform can now pass through to the lenders LOS, enabling lenders to disclose from Blend or their LOS, as desired. The integration also enables the lender to adjust loan characteristics, where fees can be re-quoted as needed, helping to ensure compliance and improve time-to-close metrics. Borrowers receive a modern, transparent experience that allows them to complete an application from any device, review pricing and get approved in just a few clicks.
“At Blend, our mission is to power a frictionless, compliant, and more accessible consumer lending ecosystem,” said Ram Woo, Blends head of business development. ClosingCorps SmartFees brings us best-in-class accuracy and efficiency, while providing a completely transparent closing process for our clients and the consumers they serve.
Up until now, the previous ˜stare-and-compare between loan data and documents has been a time-consuming and error-prone effort, said Bob Jennings, chief executive officer of ClosingCorp. Integrating our configurable fee solution with Blends data-driven consumer lending platform creates a more efficient, transparent and user-friendly experience across the board.
For more information, please visit closing.com
Headquartered in San Diego, Calif., ClosingCorp owns and operates the premier source of intelligence for closing costs and service providers in the U.S. residential real estate industry. Through innovative solutions, progressive technologies and strong alliances, the company delivers timely, accurate and transparent results that help optimize closing processes and services for mortgage lenders, title and settlement companies and real estate professionals. Clients rely on ClosingCorp to help improve efficiencies and mitigate risk. For more information, please visit www.closing.com.
Blend is a Silicon Valley technology company propelling the $40+ trillion consumer lending industry into the digital age through partnerships with banks, lenders, and other technology providers. Blends cloud-based technology delivers speed and efficiency to lenders so they can serve the modern borrower and safely navigate the industry’s changing rules and regulations.
Founded in May 2012, Blend is backed by Greylock Partners, Emergence Capital, Founders Fund, Andreessen Horowitz, 8VC, Lightspeed Venture Partners, and other leading venture investors. To learn more, visit www.blend.com.