Integral to the agreement is a pilot program through which LSI has committed to conduct several hundred online real estate closings over a three to four month period. Based in Pittsburgh, PA, LSI has relationships with 22 of the nation's top 25 mortgage banks, the biggest consumer finance companies, equity lenders and government agencies, and alliances with many of the mortgage banking industry's key players, including Fannie Mae and Freddie Mac.
Customers can use any web-enabled PC to access the service.
Lenders, title insurers and other real estate professionals manage and update all forms online, reducing costs and errors. Complete closing packages are available immediately following the actual closing, significantly reducing post-closing delay in delivering a perfected and accurate mortgage file to warehouse banks, investors, servicers and custodians. LSI's AssetLink subsidiary specializes in post-closing services, government submissions and document retrieval for the mortgage industry. ClosingGuard recently conducted the first online residential closing in the New York tri-state area which resulted in a shorter and less expensive transaction than traditionally experienced. For ClosingGuard, LSI makes our system's online transaction collaboration, content management and eSignature solutions a reality.