Provo-Utah based Simplifile added two new services, Collaboration and Post Closing, to its online platform to ease the communication process between lenders and settlement agents.
Lenders and settlement agents can share loan documents, fee data, transaction details and more to better fall in line with facilitating compliance with the regulatory changes ahead.
“With the TILA-RESPA changes, being able to connect lenders to their settlement agents is more important than ever to get the fee collaboration and transaction details right,” said Nancy Alley, vice president of strategic planning at Simplifile.
“Trailing documents continue to be an industry pain point,” Alley added. “Lenders need to know where the documents are and what has happened to them after closing. That is where Simplifile Post Closing comes into play and helps to solve some major problems that have existed in the industry for decades.”
The two new services are free to settlement agents and interested parties can now register for Collaboration and Post Closing or attend webinars to learn about the new services.