Outsource Mortgage Title Services
Mortgage companies frequently face the huge challenge of transfer of title from the seller to the buyer. Not only this process resource is intensive, it also includes many nuances that require a considerable expenditure of time and money at this critical stage. Financial analysis, title ordering, title transfer, acquiring the mortgage policy, obtaining property insurance etc., are some key requirements when dealing with property titles.
Outsource2Rescue has worked with companies of varying sizes, handling the complexities of their title work. With a core team of mortgage and financial professionals, we fastidiously work at ordering and examining titles, developing title insurance and making work more easier for our customers' underwriters. Outsource2Rescue's Mortgage Title Services include:
Mortgage Title Insurance
Title insurance is a vital aspect covering the property in stake. It protects both the buyer and the seller. Separate title insurance coverage for the property involve in the transaction required to both the lending institution and the borrower, as the lender's insurance policy does not protect the interests of the buyer. Therefore, separate title insurance is needed to the buyer to cover his risks.
The title insurance held by the lender ensures that the property has a valid mortgage lien. Outsource2Rescue can order the title on behalf of the lender, after carrying out due diligence.
Title Search and Ordering
Considering the specific requirements of the buyer and the lending company, we can search and order titles based on area, city, or county. The title search can be executed by the company itself, following which we can order the title. We can anticipate with title companies to submit a detailed report of the title while working with loan officers. Through constant follow-ups, we adopt an accurate and exhaustive title report.
Title examination is an essential task to clear any defects and disputes attached to a property as its essential in order to protect both the lender and the buyer. It acts as an anti-fraud mechanism for the lender. While initiating the title search is the responsibility of the closing agent, ordering the title search is the lender's responsibility.
A thorough and fastidious check needs to be carried out while examining the title. The search encompasses taxes, judgments, lawsuits, legal claims and liens. Outsource2Rescue's team can perform an exhaustive examination of the title and ensure that the lender is protected from fraudulent property transactions. Title Commitment
While completing the title search and ordering the title, we get a commitment report containing the details of the title insurance and all the conditions of insurance. Hence we can initiate to clear anomalies and defects at this stage that were identified during the title examination. This will simplify a smooth closure between the lender and the buyer.
Outsource mortgage title services to Outsource2Rescue to save on costs and complications!