Is this an Expensive Solution to My Problem?
Is this an Expensive Solution to My Problem?
05/10/2006 - 17:00:14It is estimated that last year warehouse banks, mortgage lenders and title insurance underwriters lost almost $30 Billion Dollars to mortgage fraud. With the average loan in the Northeast at $225,000 per transaction, one or two fraud loans can cripple a lender. The CIERCUS SettlementPro product is available as a transparent, private-label system, for an initial registration/license fee, annual hosting and data storage fees, and a nominal per transaction service charge. For a detailed listing of all costs and fees you can email us at sales@ciercus.com. Using SettlementPro will also help reduce labor costs, as the system is fully automated, saving the manpower typically needed to gather loan closing data, or to search for relevant data when faced with a post-closing problem. The cost of not using SettlementPro far outweighs the nominal user fees for the service. Some lenders may see savings of Hundreds of Thousands of Dollars each year.
