Ernst Publishing Company has released a new version of its closing cost data search engine, Smart Query II. The new fully customizable tool provides guaranteed-accurate fee and tax data with integrated geocoding, client-specified defaults and built in monitoring available via browser or any mobile device all for a single price per loan regardless of the number of searches. It’s the easiest to use and most affordable solution available on the market today providing the information lenders need to populate the Good Faith Estimate (GFE) and title providers need in creating the HUD-1.
“This is the next generation of GFE fee calculator and it includes everything a loan originator needs to provide accurate third party closing cost information to borrowers at the Point of Sale and any point thereafter, up to and including the closing table,” said Gregory E. Teal, president and chief executive officer of Ernst Publishing. “Industry regulators have made it clear that the days of not providing completely accurate loan information to prospective borrowers where and when they want it are behind us. This new offering removes compliance risk, increases a lender’s ability to attract and maintain loan applicants through the closing process and is easier to use than ever.”
Smart Query II allows lenders to work smarter by getting the right data in seconds or less with the same accuracy, reliability and guarantee but requiring less information, reducing data input time. Integral geo-coding allows Smart Query II to choose the right jurisdictions automatically, making every search faster and more accurate than ever before. Each search comes with Ernst’s data update protection, allowing users to know immediately if anything changes before the deal is closed.
"Smart Query II has always been the ultimate GFE knowledge tool in the real estate industry,” said Jan Clark, vice president of Ernst Publishing. “Now, it’s even smarter. The new version has everything our clients have been asking for, and a few more things that will make their jobs that much easier. In addition, with more datasets available, our customers will use Smart Query II for more than just GFEs and HUD-1 forms, making this fee engine the only answer our clients need.”
Smart Query II provides guaranteed fee data for Blocks 4 through 8 of the GFE, for the preparation of the HUD-1 and with its new datasets, it can also provide information for the preparation of deeds, appraisal reviews, title reports and more. Ernst Publishing, which processes more than 120,000,000 transactions annually, has always had flexible pricing plans allowing lenders to search multiple times on the same loan for a set price. That policy will continue for this new product.