Exact fees and closing data in real time at any moment.

This is lending with ClosingCorp. Unlike other solutions, ClosingCorp Fees produces accurate, actual data – NOT estimates – in less than a minute. Whether you’re a retail, correspondent or wholesale lender ClosingCorp delivers reliable closing cost data fast – guaranteed.

“For a lender like us, which processes 2,500 to 3,000 loan originations a month, SmartFees is a real lifesaver. We also use it on the wholesale side of our business to double-check our brokers’ accuracy.”

—Scott Reed, Executive Vice President Retail Lending, Carrington Mortgage Services, LLC.

Why ClosingCorp Fees?

“Our integration with ClosingCorp represents our continued commitment to streamlining the LE and disclosure form generation process for our clients. Continuing to collaborate with industry leaders, like ClosingCorp, allows us to provide our clients with access to the most accurate rates and fees enabling them to close fully compliant loans.”

— Jeff Leinan, executive vice president of National Wholesale Production for Plaza Home Mortgage.

Estimated Property Tax – CoreLogic Property Tax Estimator

SmartFees® is enhanced with the power of the CoreLogic Property Tax Estimator, which improves the accuracy of loan estimates (LEs) and delivers a seamless process within the origination workflow. The Property Tax Estimator:

  • Provides an estimated annual tax amount as well as the most current actual tax amount currently available

  • Delivers accurate estimates for California’s Prop 13

  • Uses a proprietary proration factor to calculate and estimate utilizing the subject property assessed value or sales price

  • Replaces highly inaccurate ad-hoc tax procurement processes currently used in the industry

  • Enables you to focus on loan origination tasks while SmartFees delivers accurate fee data

Natural Disaster Alerts

The risk to mortgages in the months following a natural disaster can be significant. Be prepared with Natural Disaster Alerts.

While natural disasters are impacting multiple areas of the country, lenders are seeking additional ways to examine the potential impacts on their portfolio. ClosingCorp Fees customers now have quick and efficient way to know if a property in the application process is at risk of potential damage with Natural Disaster Alerts.

There are many criteria needing to be addressed when a natural disaster occurs – such as knowing if the borrower’s employment and/or income could be at risk or if the appraisal effective date occur prior to the disaster and will the value of the property be affected. While some of the properties may be at Low or Moderate risk of damage, hurricanes and storm surge can expand to adjacent areas and cause significant damage. In many cases, new inspections and often new appraisals will be required before mortgages can be approved and the sale completed. In some instances, the damage will result in significant delays or cause deals to fall apart.

Because of where ClosingCorp sits in the origination workflow, we are poised to alert our customers about their loans in flight and potential risk, so they can execute their internal QC reviews in a more expeditious manner.

“If you weren’t using something like a ClosingCorp to get your fees, you probably really need to do that now.”

—Jonathan Corr, Chief Executive Officer of Ellie Mae

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