Are you worried you might miss something detrimental to your ownership during title search? Are you lacking the bandwidth to deal with several mortgage applications awaiting title insurance processing support? To make mortgage title insurance processing efficient and productive, outsource the task to us at Outsource2india.
Our dedicated title insurance processing agents will help you initiate, purchase, and review the title insurance procuring process to protect your business from defects in title as well as issues such as property liens and encumbrances. Our experience as a title insurance processing company will help you ensure the terms of the policy are perfectly stated to safeguard your business from legal hassles. In case of errors, we flag it and get it corrected from the insurance carrier.
What is Lenders Title Insurance?
A lender's title insurance policy protects the lender from financial loss in case there are more liens to a property or other complications that may expose them to risks. In other words, it protects the lender's investment in the property. It's because of this reason that all lenders insist on a title insurance policy. This policy is required to be purchased by the borrower on behalf of the lender. In fact, like lenders even real estate owners and borrowers can purchase a title insurance policy to protect their investments.
A title insurance cover helps a lender insure him for several types of title mistakes. These may include errors in the public record, hidden liens, fraud like forgery, omitted heirs and even legal claims against the property such as encumbrances such as taxes, mortgages or other things that make the title transfer invalid.
Title insurance policy is issued only after an extensive title search of the property. The search is done to dig out issues that can turn out into a foreseeable title issue. In case of identified issues, the insurance company does not issue a policy which serves as a signal to the lender to back out. However, if a mistake is discovered after a policy is issued; the policy will protect the lender against any litigation that challenges the legality of the property ownership.
Mortgage Title Insurance Processing Support Services We Offer
Our mortgage title insurance processing services also extend to providing suggestions or recommendations to the lender on the kind of insurance policy needed. We provide this after verifying all aspects of the property such as location, physical condition, and any pending lawsuits. Our end-to-end research about the property and advice to lenders on what the insurance policy should cover makes our clients come back to us for all their title insurance requirements. Our title insurance processing services include -
Purchasing Title Insurance
We assist the borrower extensively in purchasing the title insurance on behalf of the lender. While most borrowers leave it to the seller, we make sure that the insurance is purchased from a licensed title insurance company, agency, and agents. If the borrower wants to purchase the title insurance on their own, we provide insurance provider details besides guiding them on how to purchase it by duly filling forms.
Title Insurance Review
Once the title insurance is issued, we review the insurance details on behalf of the lender. We read carefully to ensure that the policy covers every possible unidentified issue such as ongoing legal disputes, property liens, encroachments, and easement rights. We also review the policy to ensure that all identified issues find a mention in the title insurance policy. Our review process goes through multiple stages to ensure you stand compensated for losses and legal costs in every possible way involving title escalations.
Our reviewers ensure the following issues are covered by the policy: transfer of property ownership rights in fraudulent ways, errors in noting down figures in documents at the local office, etc. Our review is preceded by a thorough investigation of the title review report. This assists us in having in-depth knowledge of specific details of the property as per public records. In this way, we ensure your insurance coverage is fully met.
Filing Title Insurance Claim
Lest there be an issue with the home's title after closing the sale, we will assist lenders to get in touch with the title insurance company. Also, we assist borrowers to get in touch with the title agent to initiate the insurance coverage process. This helps in promoting your goodwill as a lender.
Title Insurance Support Process We Follow
Being a leading mortgage title insurance processing support service providing company we ensure that the process involved in the title insurance processing is transparent. We do not withhold critical information on costs and service add-ons. We provide close-knit assistance to our client so that they understand what we do in order to fulfill our commitments. Our title insurance support process is as follows -
01. Receive Property Details from Lender
The lender sends us details of the property along with the title search report. After receiving this we search for the title insurance company or title insurance agent, registration number of the agent, check insurance premium, etc.
02. Examine Title Report
We go through the title report to uncover hidden issues. This is a proactive service. If there are issues we bring it to the attention of the lender so that the issue gets rectified
03. Apply for Title Insurance
Once the report is cleared, we initiate the process of applying for the title insurance with the help of the title insurance agent. This can be directly on behalf of the lender or assisting the borrower to purchase on behalf of the lender
04. Review Insurance
We will review the title insurance for accuracy and other technical requirements. If there are issues with the underwriting we send it to the company or agent for rectification. This is followed by submission of the insurance certificate to the lender
Other Services You Can Benefit From
Why Outsource Title Insurance Processing to Outsource2india?
We tailor our services to benefit the business requirements of lenders. We adopt a proactive approach to reviewing the insurance policy in a way that helps to mitigate the risks associated with the policy. We match every policy for buyers and sellers name, address, policy amount, power of attorney, entities, deceased vested owner, etc. We make it a point to match the lender's insurance policy with the owners' policy to establish consistency. The following are the benefits we have been delivering to our clients over the years -
ISO Certified Title Insurance Processing Company
At O2I, our experts have worked with a range of title insurance providers and so understand how to provide complete coverage from title-related risks. We are an ISO 9001:205 certified title insurance processing support provider with 25 years of professional experience in a range of mortgage service.
100% Data Security
We are an ISO/IEC 27001:2022 certified company and guarantee complete data security with the help of advanced technology. This includes the highest data backup and recovery options.
We have a multi-tier review process to review end-to-end title insurance coverage requirements. This helps us to ensure that the title insurance is complete and sound. So, lenders can look forward to coverage for even smaller issues such as building permit discrepancies, wrong surveys, etc.
We provide scalable services to enhance the abilities of our clients. Therefore, if your requirements were to evolve we have the bandwidth to handle any challenges that get in the way.
Quick Turnaround Time
The turnaround time for the title insurance processing is shorter compared to other service providers because we value your time and take maximum efforts to ensure timely service.
We are committed to offering our services to lenders and borrowers across a spectrum of budget. So, don't let your budget stop you from choosing our services. We assure to provide a competitive rate even if you are on a shoestring budget.
Get a dedicated project lead who will closely monitor the task undertaken by our team. The SPOC will liaise with our team to bring you fresh insights in the form of simplified reports. If you need to get in touch us our SPOC will be highly available to take your calls or emails.
Our title insurance service is driven by a team of professionals who know the job inside-out. They are competent enough to get the job done in quick time because our professionals have decades of experience in scanning title insurance policies. Hence they have seen just about every title situation imaginable and can leverage the knowledge to provide your lending business with the soundest advice.
We are housed with the state-of-the-art infrastructure that comes complete with the latest mortgage processing tools. Our technologies are far more advanced and capable of confronting and fixing any complications in the mortgage process.
We operate from 8 global delivery centers in the world. This ensures that all title insurance requirements are met in the shortest turnaround time. We also provide flexible operations models to suit your specific needs.
Client Success Stories
Streamlined Mortgage Services for a Residential Mortgage Lender
The client was unable to quickly close loans and approached us for help. Our team of mortgage experts helped them shrink the closing time and increase revenue.Read more
O2I Shortened the Closing Cycle for a Reputed Lender
We optimized the client's mortgage workflow and helped them in streamlining their closing cycle. This led to better performance in the short and long term.Read more
We just wrapped up our monthly scorecard call with our biggest client. We continue to be their top performing AMC by volume, and their top-rated AMC. So THANK YOU all for all the hard work on this and all of our lenders. You at Outsource2india all are doing a great job for us and the hard work is truly appreciated.Spokesperson,
Appraisal Management Company, CA More Testimonials »
Outsource Mortgage Title Insurance Processing Support to Outsource2india
As a title insurance processing company, we, at Outsource2india, have earned a reputation for quality title insurance processing services. Our client's bank on our latest title support methodologies and subject knowledge to get the job done correctly. Our mortgage title insurance processing eliminates complications as a result of fraud or human error. This is because our professionals have rich experience in dealing with typical and rare scenarios that cause problems in the title insurance process.
Contact our experts now for comprehensive back-office support services for title insurance processing.