ClosingCorp’s residential real estate closing cost data has been integrated into Blend’s lending platform, the companies announced.
The integration will enable lenders using Blend’s platform to instantly access ClosingCorp’s real-time third-party provider rates and fees from more than 20,000 service providers.
“Up until now, the previous ‘stare-and-compare’ between loan data and documents has been a time-consuming and error-prone effort,” ClosingCorp CEO Bob Jennings said in a release. “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.”
The integration enables lenders to adjust loan characteristics, helping to ensure compliance and improve time-to-close metrics.
“At Blend, our mission is to power a frictionless, compliant, and more accessible consumer lending ecosystem,” Blend’s Head of Business Development Ram Woo said. “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.”