Outsourcing Title Services for Mortgage Banks & Lenders

Title Outsourcing Services

MortgagePro360 provides title insurance outsourcing services required for settlement to Mortgage bankers and lenders nationwide. Title Insurance protects lenders or borrowers against losses arising from problems or defects with the ownership or legal title of a property. We at MortgagePro360 understand the criticality and the complexities involved in Title Insurance.

Our Title and Settlement services suite would mean a reduction of your turnaround time and paperwork, which would spin you into greater and faster business.

  • Title Search
  • Owner & Encumbrance Reports
  • Legal & Vesting Report
  • Full Title Examination
  • Title Commitment Preparation
  • Preliminary Title Report
  • Final Policy Production
  • HUD Statement Preparation

Title Search / Abstracting

One of the key areas where MortgagePro360 works on is the creation and management of a Chain of Title for its clients. This clearly is the primary element in the Closing Process. We provide Current Owner, 2 Owner, Datedowns, HELOC (Legal and Vesting) searches nationwide. The resulting cost effectiveness and process efficiency for our clients ultimately will result in improved profitability, faster turnaround time and higher accuracy.

Full Search

The search includes all names in the chain of title and reports liens and judgments for all owners, current and past. The names are run for general liens, such as judgments and federal tax liens, for the full statutory period applicable for the state.

Limited / One Owner Search

A search that goes back to the Full Value Deed (FVD) and each deed in the chain that was recorded since the FVD must be reviewed to verify that the title passes to the current owner of record.

Two Owner Search

A search that goes back to the two FVD and each deed in the chain that was recorded since the FVD are reviewed to verify that the title passes to the current owner and two owner of record.

Gap Search / Bring Downs / Date Downs

An additional title search to make sure nothing adverse has been recorded in the real estate records since the time of the original search and the recording of the deed or mortgage. The taxes are updated with present tax findings.

Owner & Encumbrance Reports (O&Es)

This report provides the basic information on a particular piece of property. It typically reports the owner(s) in title and any encumbrances including mortgages, lines of credit, and liens.

Legal & Vesting Report

Using a property address or tax parcel number, this report provides a legal description and owner(s) of record including the vesting.

Full Title Examination

Using your underwriting rules and standards, an order will be examined and include full review of the document images. An examined order will be ready for commitment or prelim preparation.

Title Commitment Preparation

MortgagePro360 can prepare commitments overnight to have them ready before next day. We have the ability to produce commitments for clients using Title Express, Softpro, Landtech, Gators, Genesis, etc. This includes typing the vesting, conveyance, mortgage, judgments/liens and taxes information into the software as per the Abstract report and proofing for any mistakes to correct them.

Preliminary Title Report

MortgagePro360 reviews and validates title chain documents such as Deeds, Subordination, Notices, Assignments, etc. We also validate name search documents such as Abstract Judgments and State Tax Liens, and make corrections as required. Any exceptions are reported to the client.

Final Policy Production

The Final Title Policy is a key component in a mortgage transaction. It provides security to the lender and owners and allows for the fulfillment of a real estate transaction. Policy production process generates Short Form, Long Form and Owner Policies in the client application. Information is extracted from the Policy Package (Title Prelim Report) and entered in the client application. Editing is done to the policy adding exceptions and endorsements as given in the Policy Package/Prelim report.

Settlement Statement (HUD)

We prepare HUD settlement statement based upon lender's closing instructions and the requirements of the title insurance commitment. We will provide the preliminary HUD settlement statement to the lender and/or investor for approval prior to the physical signing, if necessary. We use the closing instructions provided by the lender to the Title Company to complete the statement overnight.

Title Software We Use
  • Title Express ®
  • LandTech ®
  • SoftPro ®
  • RamQuest ®
  • Gator ®
  • AIM ®
  • TitlePoint ®
  • DataTrace ®
  • DataTree ®
  • Netronline ®