Mortgage lenders can now obtain an instant compliance verification of 3rd party settlement agents through Closepin’s integration with ICE Mortgage Technology®
[Plymouth Meeting, PA] – 4/27/2023 – Closepin, a part of the Grid151 family of companies, today announced a new integration built on the latest Encompass Partner Connect™ API Platform and available through Encompass® by ICE Mortgage Technology®, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, to reduce the time, cost, and complexity of validating 3rd party settlement agents for mortgage lenders.
Settlement agent compliance validation is often a manual, time-consuming, and expensive part of a mortgage lender’s process, particularly in a purchase-centric market where the introduction of new settlement agents in real time results in an ever-expanding network of more unfamiliar and disparate partners. Collecting wire instructions, licensing, and insurance information and documents from settlement agents can be cumbersome, and often requires multiple attempts and follow-ups. Confidently verifying that information requires in-depth knowledge as requirements vary by state and provider type. Closepin is a comprehensive data-as-a-service solution which provides instant access to verified settlement agent data and documents, empowering lenders to make confident decisions efficiently.
“Most mortgage lenders are manually collecting and verifying wire instructions, E&O, and licensing on every single loan they originate. Closepin’s new integration enables Encompass customers to obtain an instant compliance verification from over 30,000+ unique settlement agent offices without ever leaving the LOS. Data can be mapped and automatically populated into commonly used fields for settlement agent provider information to streamline and optimize the workflow,” said Clint Casabella, SVP of Business Development for Grid151 (parent company of Closepin).
Closepin has accumulated settlement agent permissioned data on a large segment of providers in the U.S. and utilizes its proprietary verification technology to instantly provide lenders with all data and documents needed to make their own compliance decisions. The technology saves costs for the lender and provides a simple and easy experience for settlement agents. Closepin facilitates the secure sharing of data and documents between settlement agents and mortgage lenders such that provider records in the LOS are updated and validated.
For more information, visit Closepin.com.
Closepin provides instant access to accurate data from thousands of closing agents. An easy-to-use web-platform connects closing agents with thousands of lenders, and the Closepin API powers seamless integrations with lender LOS systems. For more information, Closepin-marketplace.icemortgagetechnology on the Marketplace by ICE Mortgage Technology®.
Grid151’s mission is to help you achieve yours. The future of real estate is rapidly moving forward as new entrants and incumbents alike bring fresh ideas to the marketplace. These ideas enter a disparate and confusing world that requires in-depth knowledge to navigate. Our team listens to the challenges faced by lenders, title companies, proptechs, and fintechs to create solutions that help them achieve their missions. For more information, visit Grid151.com.
About ICE Mortgage Technology
ICE Mortgage Technology combines technology, data, and expertise to automate the entire mortgage process from consumer engagement through loan registration and every step and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality, and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.