HousingWire Tech 100 winner ClosingCorp, a residential real estate closing cost data and technology company, is integrating CoreLogic’s Property Tax Estimator with its SmartFees service to improve the accuracy of its loan estimates and provide better data to mortgage pros.
“Delivering estimated property tax is a logical extension of the ClosingCorp data set,” ClosingCorp CEO Bob Jennings said in a statement.
The Tax Estimator provides comprehensive tax data on specific properties at the county, local and other taxing agency levels to more accurately fill out the loan estimate.
“This addition to our core solution helps lenders further reduce compliance risk while raising quality, lowering turn times and bringing efficiency to lenders in generating better disclosures and borrower expectations. It also ensures the borrower will have a much more transparent experience and can feel confident that the loan estimate accurately reflects and sets expectations of actual tax costs which was the original impetus of our company 10 years ago,” he added.
ClosingCorp will now be able to more accurately communicate to lenders the degree of impact property taxes might have on a borrower’s qualification and ability to repay a loan.
“ClosingCorp has a strong focus on quality and accuracy and we are excited to help further that effort,” CoreLogic Executive, Real Estate Tax and Payment Solutions Nancy Langer said in a statement.
“Lenders nationwide have specifically requested that we integrate with ClosingCorp to deliver a seamless process within the origination workflow and we’re pleased to be able to deliver our service through this highly reliable channel,” she added.
According to ClosingCorp, the integration will be completed, and the expanded service will be available in Q3 this year.
