Integration automates recalculation of fees in loan applications
ClosingCorp has integrated its SmartFees service with the Blue Sage Digital lending platform to streamline process automation.
The company said the integration would enable lenders to manage rates and fees from SmartFees within the Blue Sage platform, which handles pricing, underwriting, closing, funding, and post-closing for various mortgage channels.
“At Blue Sage, our mission is to empower lenders with modern, best-in-class technology to streamline the mortgage process, regardless of their preferred channel of business,” said Joe Blue Sage CEO Langner. “Our automated, ‘lights out’ integration with ClosingCorp’s SmartFees reinforces this mission by giving lenders direct access to the most accurate closing cost data available while eliminating the time-consuming tasks of manual data entry and traditional ‘stare and compare’ methods of verifying fees for accuracy.”
SmartFees delivers real-time rates and fees from over 20,000 individual service providers such as title, settlement, and appraisal companies, to provide the appropriate mortgage disclosures.
“In today’s highly competitive mortgage market, more lenders are turning to automation to accelerate the origination process,” said ClosingCorp Chief Executive Officer Bob Jennings. “Lenders that choose to leverage our fee automation solution within Blue Sage will be able to provide customers with a faster, more fluid experience—giving them a competitive advantage.”
“Our integration also enables fees to be recalculated and repopulated in loan applications automatically, which is particularly helpful for many specialty loan products that require additional data,” Langner said. “And it allows the SmartFees Transaction Detail report with the ClosingCorp guarantee to be automatically returned to the documents folder—delivering a level of process automation other platforms cannot provide.”
