Closing Costs

Closing costs are the fees and expenses associated with finalizing a loan or real estate transaction. These may include loan origination fees, appraisal fees, title insurance, taxes, and other related charges. In loan management, accurately calculating and managing closing costs is crucial for ensuring transparency and compliance. 

Effective loan management systems help lenders and borrowers track and streamline closing costs, facilitating smooth and efficient loan closures while minimizing unexpected expenses.