Ernst Gets Patent for Closing Cost Calculators, Tracking Technology
Technology and closing cost data provider Ernst has received a U.S. patent for its recording fee and tax calculators used in tracking mortgage forms.
Ernst has specifically received a patent on the “system and method” used to generate and track field values of mortgage forms. The patented intellectual property is part of the company’s Smart Query product suite, which provides closing cost figures for blocks four through eight of the good-faith estimate.
President and chief executive Gregory Teal said in a press release that the company continues to work on new technologies.
He said Ernst also will submit any additional functionality for patent protection.