Ernst Publishing Set to Demo Its Cost2Close Monitoring Service

Ernst Publishing Company, a provider of technology and closing cost data for the real estate and home finance industries, has announced that the company will demonstrate its Cost2Close Monitoring Service technology at the upcoming Business Conference for the American Land Title Association (ALTA), set for March 18-20 in Philadelphia.

“Fees change and that’s a challenge our industry manages with every loan transaction every day,” said Gregory E. Teal, president and CEO of Ernst Publishing. “Too often, these changes occur without anyone involved in the loan transaction knowing it until they reach the closing table. These changes can result in costly lender cures, unhappy borrowers and complicated closings. Under the new CFPB rules, they can also lead to high non-compliance costs and late loan closings.”

Ernst’s patented Cost2Close Monitoring Service not only alerts Lenders and title closing agents working on the same loan of a change, it also goes a step further and recalculates that change automatically and simultaneously sends notifications to the Lender and the Closing Agent. From quote to closing, Ernst’s Cost2Close program can monitor and alert parties to changes for all Ernst managed fees.The technology is available now and will be demonstrated in Orlando during the MBA’s conference.

“Our borrowers and our regulators expect the fees on our loan estimates to match the closing disclosure,” Teal said. “This new technology makes certain that they do.”