Outsource Mortgage Title Support Service
Our expertise in mortgage title services assist lenders to remedy title exclusions before the closing date. Our clients bank on our mortgage title support services to stay accurate
Mortgage title issues can be significant enough to cost a lender his business. So, a lender’s 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, one of the most renowned title search companies in USA, can provide you with specialized mortgage title support services to insulate you from many potential hidden and expensive legal problems.
As a mortgage title support 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, and 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 all needs for mortgage title services with minimal delays and maximal accuracy.
How We are Assisting Lenders During in a Post-Covid-19 Era
With government offices partially open after the reeling impact of the pandemic, real estate transactions are struggling to get back to its old ways. It is this regard that we are assisting lenders by providing:
- Updates regarding remote online notarization (RON) and e-recording in the state where the property is located
- Updates about the recording office; if is accepting documents for recording; and are permitted to e-record documents.
- Updates about the search results, if it provides sufficient information for preparing a title insurance commitment.
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 or settlement 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 and Title report.
- Obtain and verify details about mortgage title or settlement company
- Order and follow up to obtain initial and Final Title report
When your title search process is done correctly, you as a lender, get accurate insights into the history of the homeowners, such as who bought the property, who sold the property, and 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 any other issues that could impact the property transaction. During the examination process we conduct a quality review to ensure the right sequence of file numbers, presence of all pages, and quality of all images. It is at this point that we verify the legal description of the property and assess the completeness of records.
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. We also identify any issues there might be such as inaccurate or contradictory information. 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 the law.
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 terms
- 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 any documents or take any 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.
- Review title reports and examine the chain of title to ensure no illegal deeds exist
- Clear any disputes and defects attached to a property
- Analyze records, such as mortgages, liens, judgments, easements, vital statistics, and plat and map books, to determine ownership and legal restrictions
- Verify legal description of property and completeness of records
- Identify issues such as missing information, inaccurate information, or contradictory information contained in the title documentation
If you are looking for expert title support outsourcing services, your search for the most trusted mortgage title company services 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 relationships and spreading good words about your business in the market. With our mortgage title services, lenders do not just end up having a comprehensive title search and review conducted. We also ensure that they can read, understand, and interpret title commitment in the right manner.
The title commitment report received from the title company states the conditions required 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 essential data for commitment easements, encumbrances, restrictions, tax status, and other conditions. This is followed by title commitment preparation as per the title report.
- Provide a comprehensive title search and review
- Assist lenders in reading the title commitment report easily
- Uncover defects early on to help close transactions quickly
- Capture essential data for commitment easement, tax status, and restrictions
- Prepare title commitment according to 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 and 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.
- Generate long form, short form, and owner policies
- Final review of records to determine the true owner of the property before policy issuance
- Forward the new title insurance policies to the new owner and lender
Title insurance helps lenders avoid 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 insurance for the property. Our title insurance services are 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 US title search outsourcing companies, we will streamline the process of purchasing the best title insurance to cover your business.
- Assist lenders in ordering insurance for the property
- Review the insurance document for building conditions, lien, deductibles, policy period, etc
- Flag inconsistencies in the title insurance document and coordinate with carriers and underwriters to get them corrected
Settlement and Closing Services
This is a critical part of our mortgage title services. With the help of closing services, you sign and exchange all the documents needed to convey title, secure your business, 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.
- Structure the signing and exchange of all documents in an orderly manner
- Assist in the preparation of a HUD 1 statement
- Assist in completing documents needed for recording services
Why Outsource Mortgage Title Support Service to ExpertMortgageAssistance
Expert Mortgage Assistance offers lenders the best back-office support for mortgage 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 full-time
- 99% accuracy guaranteed in review of title documents for protection of lender’s interests (Title commitment, title examination, title insurance, etc.)
- Standardized and automated back-office support for mortgage title services
- Up to 30% reduction in TAT, leveraging a 24/7 work environment
- Up to 40% reduction in per employee operational cost
- Flexibility to scale work up by 50% during peak times
- Seamless communication and highly transparent operations
- 100% data confidentiality and privacy
- Flexible hiring model
If you are looking for expert title search companies in USA, your search for a reliable mortgage title company ends with us.