All title settlement fees can now be accessed from within OpenClose’s LOS via Timios’ proprietary technology
WEST PALM BEACH, Fla., Sept. 6, 2017 – OpenClose, a multi-channel loan origination system (LOS) and mortgage software solutions provider, announced that it integrated with Timios, Inc., a national provider of title and settlement services to banks, financial institutions and mortgage lenders. The integration allows users to efficiently draw all title and settlement fees directly from within OpenClose’s LenderAssist™ LOS, eliminating data entry, saving time and ensuring fees are fully accurate and TRID compliant.
Timios leads the title and settlement industry in pricing accuracy, successfully bringing the first RESPA compliant, free, instant guaranteed GFE calculator to market, and again delivering TRID compliance guaranteed pricing ahead of the industry. The company guarantees that all title settlement fees with Timios are disclosed accurately in the Loan Estimate (LE) for TRID compliance from the day of origination through the transmittal of the final disclosure to the consumer. OpenClose users can now leverage Timios’ proprietary pricing engine, instantly and seamlessly populating all relevant information within its LOS.
“Timios is a natural fit with OpenClose, as our comprehensive solutions work very well together, providing transparency via their centralized fulfillment model to simplify the calculation of settlement fees,” says Vince Furey, SVP of lending solutions at OpenClose. “Further, both of our customer support models are very hands-on and responsive, which is a significant attraction to our mutual customers.”
Trevor Stoffer, CEO of Timios added, “Timios is proud to partner with OpenClose to deliver the best pricing solution to lending partners throughout the country. Like OpenClose, Timios has built a reputation as an industry leader for innovation, and OpenClose is a natural partner in driving transparency and simplification into real estate transactions. OpenClose users will never face another loss from mistakes because Timios’ pricing data is instant, accurate, and guaranteed.”
Timios, Inc. is a California-based corporation and the country’s fastest growing title and settlement services company. Since its founding in 2008, Timios has serviced more than $30 billion in escrow closings and expanded into new markets throughout the country. In addition to fee calculations, Timios also offers a wide variety of title insurance products, escrow and settlement services, realtor and REO purchase, appraisal and valuation products and services.
OpenClose developed the mortgage industry’s leading multi-channel, 100 percent web-based LOS that is leveraged by small, medium and large mortgage bankers, banks, credit unions, conduit aggregators, and other lending entities. The enterprise-level solution completely automates all business channels and lending workflows. It is highly configurable, flexible, and scalable with swift, cost effective implementations.
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS) mortgage software solutions provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent web-based solutions for lenders, banks, credit unions, and conduit aggregators. OpenClose’s core solution, LenderAssist™, is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform. The company provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit https://www.openclose.com/ or call (561) 655-6418.
Timios, Inc. is a national title, escrow and settlement services company providing technology-driven solutions to its lending partners since 2008. Timios (the Greek word for “Honest”) was created to empower its employees, clients, and customers to achieve their goals by making real estate transactions as efficient, transparent, and simple as possible. In January 2010, Timios released the only no charge, comprehensive, guaranteed Closing Cost Calculator. Timios further enhanced its closing cost calculator in October of 2015 to incorporate new requirements for TRID. Leveraging this technology along with a proprietary service model,
Timios has created a first class, integrated solution; improving the experience for all parties in a real estate transaction. Today, Timios, Inc. is licensed in 42 states and DC for title insurance and settlement services. Timios is based in Westlake Village, California with additional offices in Texas, Northern California, and Pennsylvania. Contact email@example.com today to learn more about how Timios can help enhance the service experience for you and your clients. For more information on Timios, visit https://www.timios.com/.
Profundity Communications, Inc.