Tool Improves Borrowers' Ability to Shop for Loans and Estimate Closing Costs Online
LA JOLLA, Calif. -- April 24, 2012
ClosingCorp, a leading provider of residential real estate closing cost data and technologies for mortgage lenders, real estate professionals and consumers, announced today that it has partnered with Nebraska-based Mortech Inc., a mortgage technology software company specializing in solutions for mortgage banking operations and secondary market teams.
Mortech’s mortgage quoting platform, Marksman Marketplace, will be integrated with ClosingCorp’s SmartClosing Mortgage Calculator to provide mortgage data, giving borrowers that use the calculator the ability to shop for mortgage rates from lenders nationwide. Because the calculator also includes ClosingCorp’s accurate closing cost data, borrowers can estimate total closing costs for any residence in the U.S. The SmartClosing Mortgage Calculator can be posted on real estate listing sites, real estate agent and brokerage sites, consumer-oriented real estate sites, IDX sites, blogs and social media sites, giving consumers the ability to quickly and easily compare loan offerings and determine closing costs before making a home purchase decision.
“Our promise and commitment is to provide the most comprehensive, accurate mortgage and closing cost data as well as unbeatable technology for industry professionals and consumers to access that data,” said Paul Mass, president of ClosingCorp. “Today’s borrowers demand tools that empower them to shop for the best rates. In partnership with Mortech, we have truly enhanced our SmartClosing Mortgage Calculator, enabling consumers to quickly and easily evaluate rates while also giving lenders and real estate agents an opportunity to attract many new borrowers and clients.”
The SmartClosing Mortgage Calculator provides instant mortgage rate shopping, APR, monthly mortgage payments, closing costs, property-specific recording fee and transfer tax costs and cash-to-close estimates. The rates are pulled from lender’s MarksmanLMP accounts and delivered to the Marksman Marketplace platform. The streamlined process will give borrowers a simple, real-time rate shopping experience, as well as an accurate expectation of total closing costs, which are not provided by any other competing mortgage calculator.
“ClosingCorp’s SmartClosing Mortgage Calculator reflects the objective of our Marksman Marketplace platform, which connects consumers in need of loans with reputable mortgage professionals,” said Don Kracl, president of Mortech Inc. “In line with ClosingCorp, we are also committed to supplying accurate rates to ensure borrowers receive up-to-date quotes needed to make these important purchasing decisions.”