Outsource Mortgage Title Support Service
We have wide experience and expertise in readying lenders to remedy title exclusions before the closing date. Our mortgage title support services help you stay fast and accurate
Mortgage title issues can be significant enough to cost a lender his business. So, a lenders’ understanding of title issues is of paramount importance to their business. However, it’s not easy for lenders to have a good grasp of all the aspects of title reports as it requires some intricate understanding of several complexities. Expert Mortgage Assistance can provide you specialized back-office title support services to insulate you from many hidden and expensive legal problems.
As a mortgage title company, we have wide experience in checking the accuracy of important title details, noting down exceptions, and readying lenders for the required actions (to remedy title exclusions) before the closing date. We have been assisting large financial institutions, credit unions, private bankers, with their real estate title and settlement needs for nearly a decade. Leveraging this vast experience and combining it with a smooth process, we will help you complete your mortgage title service requirements with minimal delays and maximal accuracy.
We review 10000+ title reports on a monthly basis
Mortgage Title Services for Lenders: Helping You Uncover Hidden Issues
As part of the process we get the details of the mortgage title company from the Loan Officer and order the Title for the property in consideration. Next, we follow up with the title company until we receive the Title.
When your title search process is done correctly, you as a lender, get correct insight into the history of the home owners, such as who bought the property, who sold the property and the when these transactions were carried out. The report provided by the title company is not always error free and so it falls upon the lender to examine the report properly to unearth errors. When you outsource mortgage title services to us, you need not be worried about this aspect of your service to your customers.
After acquiring the report, we conduct a thorough inspection of all the financial obligations associated with the property proposed to be acquired. This includes legal claims, lawsuits, taxes, judgments and liens, as well as all issues that could impact the property transaction. During the examination process we do a quality review to ensure right sequence of file numbers, presence of all pages and quality of images.
The one thing we are very mindful of while reviewing a title policy are the exceptions i.e. instances in which coverage cannot be offered unless certain actions are fulfilled, such as paying the required taxes, removing a lien, resolving boundary issues, or clarifying ownership. This spares you the trouble of diverting your attention from your core business, while ensuring you don’t end up being on the wrong side of Federal rules.
Some Standard Exclusions for Title Commitments We Have Handled Over the Years Include:
- Boundary issues i.e. matters related to encroachment
- Rights of tenants with continuing lease term
- Construction/workers’ compensation liens
- Issues not registered in public records (Easements)
When reviewing title commitment exceptions, we review exceptions carefully and meticulously so that you can arrange documents or take actions necessary to remedy the problem in a timely manner and avoid closing delays. In complex cases, we draw your attention to issues that cannot be remedied by the seller
If you are looking for expert title support outsourcing services, your search for a reliable mortgage title company ends with us.
Why should lenders master how to read a title commitment report? This is just to ensure that details about the property are properly reviewed, addressed, and corrected before the closing day. This plays an important role in maintaining good customer relationship and spreading a good word about your business in market. With our title support service, lenders do not just end up having a comprehensive title search and review. We also ensure they can read, understand and interpret title commitment in the right manner.
The title commitment report received from the title company states the conditions for insurance of the property title. Any defects that are uncovered by the examination process can be cleared and the transaction closed jointly by the buyer, seller and the lender. Our title commitment process includes the following: review and capture of essential data for commitment easements, encumbrances, restrictions, tax status, and other conditions. This is followed by title commitment preparation as per the title report.
Final Policy Production
In the Final Title policy, we take care of generating Short Form, Long Form and Owner Policies in the client application, considering the exceptions and endorsements as provided in the title commitment report. We have experience working across multiple states and with various title companies. By outsourcing title support services final policy work to us you not only save on per employee costs but also enable in-house staff to work on revenue generating activities and eliminate issues from arising with underwriters.
A title insurance helps lenders against problems with the title to a property-such as someone with a legal claim against the home. all institutional lenders require title insurance. Once a property’s title is determined to be in insurable condition, we help the lender order an insurance for the property. Our title insurance service is designed to keep lenders out of trouble, accelerate the process of acquiring title insurance, keep costs involved low, and help enhance staff efficiency. As a specialized mortgage title company, we will streamline the process of purchasing the best title insurance to cover your business.
Settlement and Closing Services
With the help of the closing services, you sign and exchange all the docs needed to convey title, secure your business, and deal with collateral issues and explain costs to stakeholders in an orderly manner. This process involves preparing a "HUD 1” or closing statement. It consists of the document preparation charges, mortgage lender’s charges, title company charges, recording charges, and the amount to be paid to release any existing mortgages, real estate commission fees, taxes, survey fees, and all other costs associated with the deal.
Why Outsource Mortgage Title Support Service to ExpertMortgageAssistance
Expert Mortgage Assistance offers lenders the best back-office support for title services. Whether your needs are small, or you are processing high volume files we are well equipped to help you manage your title requirements in a seamless and accurate fashion.
By outsourcing mortgage title services process to us, you get the following benefits:
- 1000+ highly trained mortgage processors working fulltime
- 99% accuracy guaranteed in review of title documents for protection of lenders interests (Title commitment, title examination, title insurance etc.)
- Standardized and automated back office support for mortgage title service
- Up to 30% reduction in TAT, leveraging 24/7 work environment
- Up to 40% reduction in per employee operational cost
- Flexibility to scale work up to 50% during peak times
- Seamless communication and highly transparent operations
- 100% data confidentiality and privacy
- Flexible hiring model
Looking for a reliable offshore mortgage title company? Outsource mortgage title support services process to Expert Mortgage Assistance and make your title requirements more accurate and time-bound.
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Software We Use
- LandTech ®
- Title Express ®
- RamQuest ®
- SoftPro ®
- Gator ®
- TitlePoint ®
- DataTrace ®
- AIM ®
- DataTree ®
- Netronline ®
- Well defined process
- Complete transparency
- Full accountability
- Customizable solutions
- Scalable operations