Loan origination system provider Wipro Gallagher Solutions has integrated the settlement services pricing data of Ernst Publishing, providing lenders technology to help accurately complete Good Faith Estimate and HUD-1 disclosures.
Lenders using the NetOxygen LOS can generate the disclosures backed by Ernst’s XML Direct data and calculation tools.
Albany, N.Y.-based Ernst’s technology utilizes Extensible Markup Language technology to streamline disclosure creation from the company’s national database of title services and insurance, government recording charges and transfer taxes.
Franklin, Tenn.-based WGS said the integration helps its lenders streamline operations by accessing the GFE and HUD-1 data in the LOS, which the company offers as a standalone technology or in conjunction with its outsourcing and call center services.
The automated form filling software also cuts the time used to identify specific fees, as well as reduces the costs associated with curing HUD-1 violations when the estimates exceed the tolerances allowed by the Real Estate Settlement Procedures Act.
“Our interface with NetOxygen guarantees RESPA compliance, speeds along lenders’ day-to-today production levels and enables them to focus more on their core competencies rather than devote extra time and energy to research and maintenance,” said Jan Clark, an Ernst vice president, in a press statement.
