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ClosingCorp Partners with CoreLogic on Digital Mortgages

San Diego-based ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, has announced that it is enhancing its SmartFees® service by incorporating the CoreLogic Property Tax Estimator. This service will help further improve the accuracy of loan estimates (LEs) in the origination process, and provide better data to mortgage professionals. The integration will be complete and the service will be available third quarter 2018.

“ClosingCorp has a strong focus on quality and accuracy and we are excited to help further that effort,” said Nancy Langer, Executive, Real Estate Tax and Payment Solutions at CoreLogic. “Lenders nationwide have specifically requested that we integrate with ClosingCorp to deliver a seamless process within the origination workflow and we’re pleased to be able to deliver our service through this highly reliable channel.”

CoreLogic Property Tax Estimator provides comprehensive tax data on the specific property at the county, local, and other taxing agency levels to more accurately populate the loan estimate. The solution is particularly effective in estimating taxes in areas of the country that have caps on annual increases for existing homeowners, and where the taxes can increase dramatically after a sale or transfer of ownership. By incorporating Property Tax Estimator’s highly accurate property tax estimates combined with transfer tax, recording, title, settlement, appraisal, engineering, survey, and other fees managed by ClosingCorp early in the process, SmartFees can enable lenders to better calculate the impact of property taxes on the borrower’s qualification and ability to repay as well as improve the onboarding process for servicers.

“Delivering estimated property tax is a logical extension of the ClosingCorp data set,” said Bob Jennings, CEO of ClosingCorp. “This addition to our core solution helps lenders further reduce compliance risk while raising quality, lowering turn times, and bringing efficiency to lenders in generating better disclosures and borrower expectations. It also ensures the borrower will have a much more transparent experience and can feel confident that the LE accurately reflects and sets expectations of actual tax costs which was the original impetus of our company ten years ago.”

About Author: Kristina Brewer

Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans.
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