I thought Closing.com was a nice platform for folks to find title agents until they put together a program to auto-fill Good Faith Estimates for mortgage lenders.
As I expressed to Dan, the nice fellow who called today from Closing.com, they are giving lenders a false sense of security and basically creating a platform which is about as reliable as ROBO-signing foreclosure plants.
Why is it that my beloved mortgage industry has given up on using human brain power? Why must everything be automated and robo-processed?
It's okay if you never expect the consumer to use the company whose fees you robotically quote, but what if they do and the fees are wrong? The lender eats the fee and Closing.com goes after the title agent who hasn't really had a chance to give a quote because Closing.com has robotically quoted figures on their behalf.
I guess I'll never really get that.
As I expressed to Dan, the nice fellow who called today from Closing.com, they are giving lenders a false sense of security and basically creating a platform which is about as reliable as ROBO-signing foreclosure plants.
Why is it that my beloved mortgage industry has given up on using human brain power? Why must everything be automated and robo-processed?
It's okay if you never expect the consumer to use the company whose fees you robotically quote, but what if they do and the fees are wrong? The lender eats the fee and Closing.com goes after the title agent who hasn't really had a chance to give a quote because Closing.com has robotically quoted figures on their behalf.
I guess I'll never really get that.
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