A mortgage software provider is adding features to its platform that can streamline transactions and improve compliance.
Ellie Mae (ELLI), based in Pleasanton, Calif., has upped the capabilities of its Encompass360 software with the SmartGFE 2.0 service from ClosingCorp, a La Jolla-based maker of software that supplies real estate professionals with the latest data about closing costs, the companies said Tuesday. Encompass360 is said to automate mortgage loan origination, closing, secondary marketing, compliance and most other aspects of the mortgage lending process.
SmartGFE 2.0 enables lenders to deliver good-faith estimates automatically and instantly for any U.S. address. The service, which retrieves data from more than 12,000 residential real estate service firms, also notifies users in the event transfer taxes or recording fees change and promotes compliance with rules governing real estate settlements. Lenders can tailor SmartGFE 2.0 to their business needs.
"By giving its clients access to the SmartGFE 2.0, Ellie Mae is helping to deliver the key GFE data all lenders need today in a timely manner," Paul Mass, president of ClosingCorp, said in a news release.