2022 Winter News & Updates What’s New Attorney Opinion Letter versus Title Insurance. Attorney Opinion Letters (AOLs) have been the focus and at the forefront of the American Land Title Association (ALTA) recently. Freddie and Fannie are now accepting AOLs in lieu of title insurance to insure their loans in some limited situations. However, …
Cybersecurity and Wire Fraud Risks Here’s how CSS protects Lenders on their refinance transactions As a mortgage lender, you are constantly exposed to financial and reputational risk from your title and closing vendors. 1 in 3 real estate transactions are targeted for wire fraud (ALTA Wire Fraud 2021 Survey) CSS’s managed refinance title and closing …
Refinance Title & Closing: How Lenders Can Manage Their Vendors by Jerome Jelinek, CEO and President. November, 17, 2021 While regional lenders have historically narrowed working relationships to a few AMCs and home equity title, valuation & flood vendors, the predominant model for title insurance and closing still authorizes loan officers in the field …
Title & Closing for Regional Lenders: Time for a Centralized Model! Read More »
Every mortgage lender wants what’s best for their customers and employees. If you’re overseeing refinance operations at a lender, you care about many things, but there are likely three you’re always looking to satisfy: your customers, your employees, and your margins.
KeyBank Story Refinance Title & Closing Success Refinance Title & Closing Success CSS is one of Key Bank’s preferred title and closing providers for refinances across multiple states in the bank’s footprint. See why Key Bank chooses to send all of its refinance transactions to a limited set of highly vetted title and closing …
Many of our lender customers express frustration with using so many different title & closing vendors across their lending footprint. With multistate lending operations, title vendors sometimes number in the hundreds! This results in as many different levels of quality, fee structures, points of contact, and methods of communication as there are vendors. Management of …
How Can We Improve Our Overall Title and Settlement Process? Read More »
While the long-standing trend has been to migrate to a centralized title model, we recently met with an industry friend that had just left a regional lender that had yet to convert. He estimated the lender is using 120+ title companies. We had a few immediate questions. 1) How in the world do you effectively …
The Endless Benefits of a Centralized Title Model Read More »
The latest annual American Land Title Association (ALTA) One Conference was going to be held in New York, but, due to COVID-19, was held virtually. This year’s theme was “Tell Our Story.” ALTA President, Mary O’Donnell, encouraged all title professionals to tell our industry’s story to consumers: that we are bodyguards, private detectives and problem …
The American Land Title Association (ALTA) One 2019 Conference was held in Austin, Texas, the “live music capital of the world.” This year’s theme was “Unbound,” and with live music everywhere, Austin provided a perfect place to encourage everyone to break free of limitations and think outside the box. Outgoing ALTA President Cynthia Durham, NTP, …
