ClosingCorp Launches Compliance Upgrade for GFE Data – NMP Skip to main content

ClosingCorp Launches Compliance Upgrade for GFE Data

Oct 10, 2011

ClosingCorp has announced the launch of its SmartGFE Service 2.0, the one-click, online solution giving mortgage lenders fast access to Real Estate Settlement Procedures Act (RESPA)-compliant Good Faith Estimate (GFE) data. ClosingCorp launched its original SmartGFE Service in 2010 to deliver live rates for local and national real estate closing services, as well as transfer taxes and recording fees, enabling lenders and brokers to create instant, accurate GFEs. Based on market demand for greater efficiency and precision, ClosingCorp developed the SmartGFE Service 2.0 to eliminate the need for loan officers to make decisions and manually input information already existing in a loan file. The 2.0 solution requires virtually no user interaction and instantaneously generates real-time, geocoded rates for GFE Blocks 3-8 from thousands of preferred providers throughout the U.S. at any time. “The regulatory environment, as well as competition for mortgage applicants, continues to require timely and accurate GFEs,” said Paul Mass, president of ClosingCorp. “We made significant enhancements to our SmartGFE Service and know our 2.0 release will dramatically increase the productivity of mortgage lenders while significantly reducing the amount of tolerance violations being reimbursed to borrowers given our Compliance Guarantee. The SmartGFE Service 2.0 provides custom configuration options to lenders at any level—corporate, branch or individual, enabling them to improve work flow efficiency and increase GFE data quality, all while accessing their own unique preferred provider’s data.“ The SmartGFE Service 2.0 is an integrated rules-based engine that allows lenders to configure their vendor preferences and customize settings once to have Compliance Guaranteed data delivered instantaneously into their GFE, itemized fee work sheet and service provider list. “SmartGFE customers have been extremely pleased with the financial effect of our compliance-guaranteed GFE data,” said Cathy Blaszyk, vice president of lending services for ClosingCorp. “Customers are experiencing improved operational efficiencies and they indicate that errors that cause tolerance violations for Blocks 3-8 are nearly eliminated.” The SmartGFE Service 2.0 incorporates client-specific business rules to ensure appropriate fees are included in each quoted price. The service instantly notifies users if transfer tax or recording fees change, and it is backed by a compliance guarantee to eliminate tolerance violations. Lenders can override decisions on a per-transaction basis, allowing them to retain ultimate control over the entire process.
About the author
Published
Oct 10, 2011
Closing Costs: What HUD’s Proposed Rule Will Really Do To The Market

HUD’s proposed rollback of housing protections could deepen barriers for underserved borrowers, shrink the pool of prospective homebuyers, and ultimately cost loan originators business

Aug 27, 2026
MISMO Gives Lenders A New Test For Mortgage AI Vendors

Two certifications move the industry’s FRAME initiative from governance guidance toward product-level validation and implementation

Aug 27, 2026
One Owner, Two GSEs: Would Fannie And Freddie Still Compete?

Oksenholt Capital says shared infrastructure could lower costs without weakening competition, but mortgage bankers have warned that common ownership could reduce lender choice, innovation, and market resilience

Aug 27, 2026
MaxClass: Education Meets Lead Generation

CEO Kelly Hendricks details how MaxClass and HomeQB are opening a new referral channel for originators

Fannie Mae Returns To Distressed-Loan Market With $214 Million Sale

The agency’s first nonperforming-loan offering in 13 months transfers 969 deeply delinquent mortgages to private buyers, including a small pool concentrated in Dallas-Fort Worth

Aug 20, 2026
Brief Refinance Shift Tests Mortgage Lenders’ Compliance Controls

Critical defect rate jumps 23.9% as math-based compliance findings expose the potential for one systemic error to affect loans across a lender’s book