[Internal] Closing Entity Tags - Overview

Overview:

In this article, we will review the specific use for each Closing Entity Tag and view a sample entity to see how to configure additional details, such as contacts.

Quick Reference:

In Brokerage Engine, closing entities are assigned tags that dictate transaction handling and determine if a vendor profile is mandatory. To find the Closing Entity section, navigate to the Transactions module, select Pending, and locate the field in the top-right corner. 

Types of Closing Entities:

• Disbursement - No vendor profile required; used for title companies.
• Mortgage - No vendor profile required; used for mortgage companies.
• Referral - Vendor profile required; used for referral companies.
• Other - Vendor profile required; used for brokerage disbursement fees. Ensure the fee is configured with a Brokerage disbursement type. 

When creating a closing entity, you can add and edit company details. While only the Company Name and Tag are required, title and mortgage companies also require the addition of a Title Close or Mortgage Officer as a contact. 

Note: To ensure accurate data on the Closing Entity Ranking Report, we recommend adding only one primary contact per entity.