Costa Mesa, California and Austin, Texas (PRWEB) February 08, 2012
LendingQB and FirstClose Title announced today a partnership that combines instant ‘cash to close’ quotes with real-time automated underwriting and loan pricing all within a unified loan origination platform. The integration enables mortgage lenders to reduce closing costs for borrowers and simulatenously populate guaranteed GFE data within the LendingQB loan origination system.
FirstClose Title is a national provider of title services with a unique business model. They compare rates from a wide range of major underwriters and provide the lowest price to borrowers and lenders in a transparent manner. “We actively seek out best pricing among major underwriters to deliver pure, unaltered comparative rate quotes,” said Cynthia Waterman, president and CEO of FirstClose Title. “This allows us to present quotes which average $500 to $1000 below competing GFE quotes, providing lenders with a ‘cash to close’ advantage that makes their offer more competitive and secures a relationship with a potential borrower more quickly.”
The integration between LendingQB and FirstClose Title makes it easy for lenders to generate a GFE quote directly within the LendingQB loan origination system. Lenders can quickly retrieve quotes for title insurance, settlement charges, recording charges, and transfer taxes and automatically populate the data to the GFE on their loan file. Lenders can save between 15 and 30 minutes per loan file using the integration. But more importantly, FirstClose Title guarantees the accuracy of the GFE data, which protects lenders from having to cover costs due to poor GFE data entry.
“As a loan origination system, our goals are to increase a lender’s efficiency and maintain data integrity,” said Binh Dang, LendingQB’s managing partner. “The integration with FirstClose actually goes beyond these goals and has a direct impact on a lender’s ability to drive revenue. It makes lenders more competitive by improving point of sale pricing and increasing consumer selection. When you combine FirstClose Title’s best-execution rate quotes with our automated underwriting and loan pricing technology all wrapped up in a web-based loan origination system, you’ve got a top-line technology platform that will have an immediate impact on a lender’s bottom-line.”
Based in Costa Mesa, California, LendingQB is a provider of web browser-based mortgage loan origination technology and services. The company combines more than 11 years of cloud computing software development experience with expertise in mortgage lending to deliver a technology solution that is service-oriented and focused on results. For more information about LendingQB, please visit http://www.lendingqb.com or call 1-888-285-3912.
About FirstClose Title
FirstClose Title is the first and only company to bring full transparency to rate selection in a scalable business model. The company provides its powerful certified fees for use by lenders when educating borrowers on their vendor choice for title insurance as a consumer centric and no cost solution to quality GFE data needs and service options for title insurance. The company delivers peak performance throughout the life of every transaction including unmatched clear to close ratios, funding transparency and 48 hour policy issuance for short form policies among other unique services which enhance and reduce front end costs of origination and prevent post closing penalties. Learn more at http://www.firstclosetitle.com.