ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, announced today that Stearns Lending, LLC, one of the nation’s top 10 mortgage lenders, has selected ClosingCorp’s SmartFees as its rate and fee data solution.
SmartFees provides more than 4,000 Stearns brokers with vendor-verified rate and fee data from thousands of service providers located throughout the nation.
ClosingCorp SmartFees integrates loan file information, transfer tax and recording data, service provider fees from more than 70,000 rate cards, and lender business rules and requirements into a single, seamless process and platform — allowing clients to originate mortgages confidently and compliantly.
“The ClosingCorp service allows our brokers to generate actual rate and fee data from the providers we currently do business with,” said Uday Devalla, chief information officer of Stearns Lending. “We expect our cycle time to be faster and interactions with our service providers to be much more efficient, which will ultimately enhance the overall borrower experience.”
“Stearns Lending’s choice of our solution is further evidence of our unique capabilities to assist mortgage lenders in adapting their business to meet new and emerging consumer demands, as well as their need to lend more efficiently and compliantly,” said Bob Jennings, chief executive officer of ClosingCorp. “Borrowers expect a transparent, real-time process that’s highly accurate and is consistent from the quote to what’s required at the closing table.”