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Ernst Selected for Technology Demo at MBA Tech Show

Ernst Selected for Technology Demo at MBA Tech Show

The company will showcase the new version of its Settlement Agent Gateway TRID solution.
 
ALBANY, NY—March 16, 2018—Ernst, the leading provider of technology and closing cost data for the real estate and home finance industries for the past 29 years, announced today that the company has been chosen by the Mortgage Bankers Association to demonstrate its enhanced Settlement Agent Gateway (SAG) technology during the Technology Showcase at the MBA’s Technology Solutions Conference & Expo, April 15-19 in Detroit. Ernst executives will provide a demo on April 16, between 2:33 and 2:39 pm and then be available in the Innovation Hub to answer questions.
 
“In a post-TRID world, lenders and settlement services agents must operate in lockstep in order to be effective,” said Gregory E. Teal, president and chief executive officer of Ernst Publishing. “Lenders need guaranteed accurate fee information in time to disclose to borrowers and settlement agents need the technology to set and manage their own pricing. Our enhanced Settlement Agent Gateway provides all of that and more.”
 
Ernst’s SAG is a collaborative fee management system. It allows settlement agents to negotiate fees with lenders and then manage those fees via a web-based tool. Lenders get certified fee information that is guaranteed to be accurate. This ensures full TRID compliance, protects the lenders from having to re-disclose updated fees later and protects smaller settlement agent firms from being pushed out of the market due to non-compliance concerns.
 
The system allows the lender to set up their panel of settlement agents in advance and then choose which agent to use on a loan-by-loan basis. This allows them to build stronger relationships in local markets by connecting local loan officers with local closing agents very early in the process. The new update offers more flexibility and makes it easier for settlement agents to enter and change their fees. It also gives them more granular control over what fees to apply to what geographies.
 
Ernst programs process as many as 250 million real estate transactions annually, making it the most used technology of its kind in the industry. Since the company was founded 29 years ago, Ernst has processed well over 1 billion transactions and unveiled dozens of technologies and products that produce efficiency across the real estate industry. Gregory E. Teal has won the HousingWire Vanguard Award and is a Mortgage Banking magazine Tech All-Star. The firm estimates that its technology is in use for 90% of the nation’s new loan originations and refinance transactions.
 
To visit with the company about its technology solutions, stop by Booth No. 238 at MBA Tech in Detroit.
 
About Ernst
Ernst has been the leading authority on land recording requirements for nearly three decades. In fact, Ernst’s recording fees, transfer taxes and title data have been integrated throughout the title and lending industries. Legal requirements have made accurate recording fees and taxes for recording documents more important than ever. Ernst excels at creating solutions for their clients to manage not just those fees—but also all vendor fees—with unparalleled precision. As a company, our goal is simple: Empower clients to not only meet CFPB’s new compliance regulations for the Loan Estimate, but set the industry standard for client satisfaction, an attainable goal due to our patented technology, impeccable data standards, expertise at creating custom solutions, and network of partners. Ernst’s patented solutions are trusted and used by 9 of the nation’s top 10 mortgage servicers, all 5 of the top title underwriters and 9 out of 10 mortgage originators nationwide, including 9 of the 10 largest banks.
 
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