On Thursday, September 10, 2015: Shares of Fidelity National Financial Inc (NYSE:FNF) observed a loss of -0.55% and closed at $36.01.
Fidelity National Financial, Inc., is truly one-of-a-kind company together with its auxiliaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States.
Black Knight Financial Services (BKFS) which is a Fidelity National Financial (FNF) company, is the mortgage and finance industries’ leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
ClosingCorp, declared that its Loan Estimate Module is now available through Empower, Black Knight Financial Services’ comprehensive loan origination system (LOS). The Loan Estimate Module presently provides users with access to RESPA-compliant data, audit trails and a data guarantee for the Good Faith Estimate (GFE). Starting with the CFPB’s revised go-live date of Oct. 3, the module will be able to provide validated fee information to populate the new Loan Estimate (LE) mandated by the TILA-RESPA Integrated Disclosure (TRID) rule.
ClosingCorp provides fully managed, vendor-verified rates and fees from nearly 20,000 unique real estate service providers covering every geographic area in the nation in addition to its proprietary data asset for accurate recording fees and transfer taxes. The integration of ClosingCorp’s Loan Estimate Module within the Empower LOS will incorporate client-specific business rules to deliver correct fees in each estimate and right away notify loan officers when transfer tax or recording fees are planned to change. This integration will enable loan officers to enhance their regulatory readiness and provide consumers with accurate and comprehensive information about the total cost of the transaction. It also provides a complete audit trail and an improved ClosingCorp Guarantee.
“While many lenders and their network of settlement providers have wisely invested in improved partnership tools, there is still much to consider. To be truly ‘TRID-Ready’ you need to be able to verify the upfront accuracy of the fees that are being quoted, and those upfront fees need to be in sync with the fee logic used to create the final Closing Disclosure, or you run the risk of being out of tolerance and causing delays at the closing table,” said Brian Benson, chief executive officer at ClosingCorp. “It is increasingly difficult for lenders to do that on their own, or to expect settlement providers to navigate this for them. Lenders need focused resources, like ClosingCorp, to capture, verify, standardize and guarantee this information in the proper form for it to be consumed. Due to its high market share, the integration with the Empower LOS was extremely important because it provides more loan officers with the market’s most accurate rates and fees available in the appropriate form to support TRID compliance.”
“ClosingCorp and Black Knight are dedicated to providing solutions that assist streamline the loan closing process and support a better overall experience between lenders and settlement agents,” said Richard Gagliano, managing director of origination solutions for the Black Knight Origination Technologies division. “Not only will this support our clients’ TRID initiatives, but it will also assist improve operational efficiencies and control.”
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