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 Blend’s
data-driven consumer lending ecosystem. Lenders using Blend’s 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 Blend’s point-of-sale (POS) system and the lender’s
commercial loan origination system (LOS). This makes ClosingCorp a
single-source of fee information since the data file created in Blend’s
platform can now pass through to the lender’s 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, Blend’s head of
business development. “ClosingCorp’s 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 Blend’s 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.
Blend’s 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.