How Allsec Supports Title & Settlement Companies
Title services is an aspect of mortgage processing that takes place in the shadows, but its importance cannot be expounded enough. Without title search, a property would not be able to establish a clear title and enable its smooth transfer to the buyer. The process validates legal rights to the property and irons out any disputes related to complete title to the property.
However, title search, transfers, and resolutions can be time-intensive, involving multiple steps that can increase the turnaround time for mortgage processing. Involving a third party to support title services can plug key gaps in the process such as improving turnaround time, keeping up with Federal and State laws, achieving optimal data accuracy benchmarks, and streamlining sub-processes.
Allsec Technologies has over a decade’s experience in the mortgage industry, especially for loan origination, mortgage servicing (Performing & Non-Performing), and title services. Our secure, reliable, and speedy support can transform your title process through efficient workflows, digitization, and analytical assistance with complete statutory compliance.
What You Can Expect From Allsec
From title and property search to preparing the closing disclosure and documents, Allsec provides end-to-end support to streamline title services with optimal quality & shorter TAT
Allsec prepares mortgage release documents and enters mortgage/DOT into the client’s proprietary platform. This includes updating information such as borrower names, original beneficiary, current beneficiary, legal description, etc. We also enter details of the release document if the mortgage has already been released. Additionally, we determine if the assignment chain is clear and inform the client about potential breaks in the assignment. This reduces the time and effort required for order entry, quickening the process and freeing up time to focus on other processes.
With Allsec, clients don’t have to worry about any of the research and document preparation, title search, commitment typing, examination of title documents, curative process, or closing disclosure. We handle all of this in-house to enable smooth title services.
Allsec also undertakes a thorough online search of the county site that helps locate the target mortgage, and match the loan amount, mortgage date, property address, and borrower name. After the target mortgage is identified, we retrieve all related documents such as assignments, modifications, release, re-record, and corrective documents.
Our title examination professionals meticulously check taxes, liens, lawsuits, legal claims, easements,and encroachments, etc., and help identify any issues that can potentially impact the transaction. As always, we ensure accuracy and speed through this process.
We also generate mortgage title commitment reports that give clients a 360° view of the property details. If there are any defects or legal obstacles to clearing title, we also provide title curative services to ensure that the file is ready to close. Finally, we prepare the closing disclosure documents that will clinch the deal.
Employee Training
All our title services agents are thoroughly trained in all aspects of the mortgage domain. Our training involves intensive classroom sessions on detailing the basics of mortgage, title, and conveyance documents. This includes a review of warranty deeds, quit claims, encumbrance documentation, and theoretical training in county search. Every employee is fit to leverage our suite of digital mortgage solutions and provide support in any part of the process, be it loan origination, mortgage servicing, or title services.
Conclusion
With Allsec, companies have seen marked improvements in customer relationships through streamlined processes. Our digital support and industry expertise help our clients become one of the most preferred mortgage lenders in the industry. Get in touch with our team for more information on the complete support services we provide to transform your mortgage business.
