Caliber Funding Launches New Solution to Simplify RESPA Efforts

As part of an effort to provide technology solutions for Real Estate Settlement Procedures Act (RESPA) challenges,

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""Caliber Funding, LLC"":http://www.caliberwholesale.com/, a national wholesale and retail lender based in Scottsdale, Arizona, has launched an originator forms feature on its proprietary software system, ""H2Online."":http://www.caliberwholesale.com/tour.php

The new feature provides fully-completed, signature-ready documents with a single click, the company said. These signature-ready packages include a good faith estimate (GFE), a written list of settlement services pro-
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viders, an intent to proceed acknowledgment, and a mortgage broker fee agreement-all issued in the broker's name.

The originator forms feature also offers the use of Caliber's preferred business logic and dynamic system validations to help prevent brokers from making some of the most common GFE errors.

""We are proud of the time-saving efficiencies that our new originator forms feature provides to H2Online users,"" said Chris McCullough, president of Caliber. ""Through this feature, we are able to help partner brokers who may be struggling to create a compliant GFE that is likely to be accepted by a lender.""

According to Cailber, the originator forms' advanced technology through H2Online creates a better borrower experience because many of the forms that the broker is required to collect in connection with a loan application can be requested once--at the beginning of the loan origination process.

The company said this new feature and its other RESPA-related efforts have led to a dramatic increase in the GFE acceptance rate during beta-testing.