ClosingCorp, a provider of residential real estate closing cost data and technology, has acquired WESTvm, a proprietary order management solution from real estate and mortgage technology company WEST.
WESTvm is a loan-centric ordering technology that streamlines the ordering and management of settlement services needed to originate and/or service a loan. It allows lenders to order appraisals, flood certifications, title and closing services, and documents in less than sixty seconds.
ClosingCorp said it is renaming the WESTvm platform ClosingCorp Order Management, and its fee management service, SmartFees, as ClosingCorp Fees.
Both solutions are now available through the Ellie Mae Encompass platform and ClosingCorp’s standalone web portals. The company will also build other third-party integrations.
“Lenders will now be able to quote, order, track and receive specific services – within a loan file – all at the click of a button,” says Bob Jennings, CEO of ClosingCorp. “Integrating our fees and order management solutions will help lenders leverage automation from borrower engagement through investor delivery and servicing.”
As part of the acquisition, ClosingCorp will continue to offer a private-label order management solution to WEST’s customers and partners.