Industry News

Next-day real estate title service debuts

Fast turnaround increases home loan closing ratio for lenders

Lenders First Choice, a national provider of settlement services and title insurance, now offers next day title service for most properties in the United States, allowing lenders to make faster underwriting decisions and to close transactions sooner. The service uses integrations with title plants, cooperation with the company's large national abstractor network, and 24-hour data entry services. "In the current competitive marketplace where more lenders are going after fewer transactions, this service helps improve closing ratios as faster, more accurate decisioning leads to reduced loan fallout," said Bill Moody, president of Lenders First Choice. In a separate announcement, the company launched Lenders Easy Access Program, a service that integrates the company's technology with lenders' mortgage banking products to increase processing speed, add greater functionality and eliminate human error. The new program allows lenders to integrate their mortgage origination systems with...