is now offering SmartEngine for Lenders, a software-as-a-service (SaaS) enterprise solution designed to capture and manage lender and investor fees across multiple channels and platforms.
According to the San Diego-based company, SmartEngine for Lenders interfaces with commercial loan origination systems, pricing engines and internal proprietary systems to track and control lender fees, adjustments and overlays. The new product is designed for larger, multichannel lenders, the company added.
“It’s not unusual for large, multichannel lenders to have hundreds, even thousands, of variations when it comes to internal origination and investor fees,” said Bob Jennings, Chief Executive Officer of ClosingCorp. “Currently, they are tracking these fees manually, which adds time, cost and the possibility of human error. Our new solution gives lenders a tool to efficiently manage these fees and rules—either on their own or through us.”