ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, announced its DART service now is available through Qualia, a cloud-based settlement software streamlining every step in the title and escrow process. DART provides guaranteed recording fee, transfer tax and filing instruction data for every residential property in the nation.
DART is designed specifically to meet the growing needs of title and settlement agents, ClosingCorp said in a press release. With more than 4,000 taxing jurisdictions and more than 80,000 related taxes, fees, customs, rules and regulations, DART provides immediate access to the precise recording fee, transfer tax and recording instruction data that is crucial to title and settlement operations. DART’s engine calculates buyer/seller splits, commonly called “Who Pays” rules, and has a strength or confidence level based on collected data of statutory and customary practices by geographic location.
The integration will allow law firms and title agents to automatically calculate document recording fees and transfer taxes directly from within Qualia.
“Qualia’s main goal is to create an incredibly user-friendly software that cuts out all of the unnecessary headaches currently involved in the title and settlement process,” Qualia CEO Nate Baker said. “We are excited to complete this integration so that our users can complete 100 percent of their work without ever leaving their software.”
“With this integration, Qualia’s client base now has access to accuracy-guaranteed data, which is compiled by our data analysts who continually research and document all nuances associated with these critical costs. Users can also access key forms and helpful documents to accelerate and improve the closing transaction which delivers on Qualia’s and ClosingCorp’s promise to bring efficiency to the closing process,” said Kamel Boulos, chief technology officer and interim co-CEO of ClosingCorp.
DART was introduced in December 2011. The system’s geocoding feature automatically selects the correct county and tax authority by street address. The product is available as a standalone website or via Web services integrations.