Industry News

Countrywide offers Web-based closings on refis, HELOCs

Lender licenses RealEC's electronic closing platform

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Borrowers who refinance or take out home equity loans from Countrywide Financial Corp. can conduct closings from any location with Internet access, now that the lender has licensed RealEC Technologies Inc.'s Web-based closing platform. RealEC announced today that Countrywide has integrated its Web-based closing service into its TS2 settlement services platform, which uses the RealEC Collaborative Network Platform. Countrywide's origination groups can place orders for the Web-enabled closing service with any title and closing service provider that is certified and available through the RealEC network. Orders are fulfilled and completed through the RealEC platform. The service allows each title and closing provider supporting Countrywide to "control the entire closing process," RealEC said in a press release, eliminating the need to coordinate with multiple third-party providers. That allows borrowers to schedule closings as early as possible during the application process....