How Are You Calculating Taxes And Fees?

What sorts of solutions do you or your title partner use to calculate the exact taxes and fees needed for disclosures and good faith estimates?

If you or your vendor isn’t preparing those documents instantly using an in-house database, you are spending more time—and money—than you need to be on what should be a simple task. If the retrieval of this information is anything short of instantaneous, then the process is lagging. Everyone involved in a real estate transaction should share the goal of performing a transaction as quickly as possible without any loss of accuracy.

The Old Way

The old way of finding this information involved consulting rate manuals, calling the state, or logging into third party databases. After performing these actions, the agent would compile the information, perform some arithmetic, and present the finished disclosure documents to the interested parties. This method was fine ten or twenty years ago. However, in an age of advanced technology, this sort of turn time is unacceptable. The incremental waste of time and resources quickly adds up, and this inefficiency can lose a company a great deal of money in the long run.

Fee Calculation LOS & Web Integrated

Luckily, the discovery of exact taxes and fees, title fees, closing fees, recordation fees, and transfer taxes can be fully automated in a way that not only maintains but guarantees a high level of accuracy. All it takes is choosing the right title partner.Whether accessing this tool online through our web platform, or through Ellie Mae’s Encompass, Calyx Point, Integra Destiny, or WIRPO NetOxygen Loan Origination Systems, exact taxes and fees are at your fingertips when you need them.

First Title Innovation

At First Title, we truly believe that constant innovation is the surest way to consistently deliver a smooth transaction for our clients and partners. Using our FirstVision technology, we were the first agency in the nation to provide an instant GFE and closing cost generator. We continue to take steps to ensure not only that our database fully up-to-date at all times but also that we are constantly on the lookout for new ways to make the process easier for our clients and partners. By maintaining our own database, we have the peace of mind that comes from being fully accountable for our actions. We have already achieved building an accurate and comprehensive rate engine, and we have a team committed to guaranteeing that it is always up-to-date. Don’t waste another minute with vendors holding up your process of calculating taxes and fees with old-fashioned, unreliable methods. First Title & Escrow is dedicated to making our process as smooth and simple as it can be for our partners, and this dedication touches every aspect of our way of doing business. Call us today at 866-484-8537. You can also check out the latest First Title & Escrow updates by visiting our social media pages:      

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