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To ensure compliance with new TRID requirements, Rockville, Md.-based CoesterVMS has released a disclosure calculator that produces fee quotes based on property complexity and product selection.
According to the company, the calculator uses a multi-factor approach that considers the following when providing an estimate:
•Mean appraiser fee for selected product in property market
•Finished square footage
Following the calculation, users have the option to place an order or save the quote for later use. After saving, the print option downloads a PDF version of the quote for reference in the loan file or discussions with consumers.
The My Quotes menu allows users to manage, print and place orders from saved quotes. Access to saved quotes follows CoesterVMS' standard user right hierarchy to allow for coordination between sales, operations and management.
The system will populate all information directly into the order form for orders placed from quotes, including the quoted fee.