Ernst Publishing Co. has released information from a customer study showing that users of Ellie Mae’s loan origination technology are taking advantage of the company’s custom title solutions more than initially anticipated, the company announced in a release.
This new partnership provides all of Ellie’s customers with easy access to technology they need to comply with the Consumer Financial Protection Bureau’s TRID rules and other regulations.
“Our technologies are seamlessly integrated with Ellie Mae’'s, giving our joint customers easy access to the fee information they need to process their loans in full compliance,” Ernst Publishing President and CEO Gregory E. Teal said in the release.
“Our solution enables clients to use Ernst’s preconfigured title and settlement network. While our solution works perfectly as configured, providing fees from a national network of title companies, most companies are choosing to customize our programs to provide information from the specific title and settlement agents with whom they already have relationships,” Teal added.
This collaborative fee management system allows settlement agents to work with lenders to negotiate fees and then manage these fees in a web-based tool that certifies the accuracy of their fees making them available to lenders who need to provide Loan Estimates required under the new requirements. The system also allows lenders to customize their panel of settlement agents in advance before choosing which agent to use on a loan-by-loan basis.