ClosingCorp has launched a software-as-a-service enterprise solution that it said captures and manages lender and investor fees across channels and platforms, assuring accuracy and reducing speed to market for new programs.
ClosingCorp said SmartEngine for Lenders interfaces with commercial loan origination systems, pricing engines and internal proprietary systems to track and control lender fees, adjustments and overlays. The company said it is designed for larger, multi-channel lenders.
“It’s not unusual for large, multi-channel lenders to have hundreds, even thousands, of variations when it comes to internal origination and investor fees,” ClosingCorp CEO Bob Jennings said in a release.
“Currently, they are tracking these fees manually, which adds time, cost and the possibility of human error,” Jennings added. “Our new solution gives lenders a tool to efficiently manage these fees and rules — either on their own or through us.”