ClosingCorp, [1] recently announced that Springboard Home Loans [2], a not-for-profit mortgage lender working to expand homeownership, has begun using its SmartFees solution, an automated fee solution that delivers real-time closing cost data from more than 20,000 individual service providers.
With this move, Springboard will now be able to expedite Loan Estimate and Closing Disclosure production through its integration with ClosingCorp and Ellie Mae’s mortgage management solution, Encompass.
"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,” said Gabe Del Rio, President, 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 homebuyers,” said 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.”