Southern Title Abstract, Inc has the experience and know-how to exceed your expectations. We meet or surpass the compliance guidelines that are required of lenders.
How do we help lenders?
Our services are crucial in assisting lenders throughout the real estate lending process.
Here are some ways we help lenders:
- Title Search and Examination: Title companies conduct thorough title searches to verify the property’s ownership history and check for any liens or encumbrances that may affect the title. The title examination process helps lenders assess the property’s title risk and make informed decisions about providing financing.
- Title Insurance: Title companies offer lenders’ title insurance policies to protect the lender’s interest in the property. This insurance provides coverage against financial losses due to undiscovered title defects or ownership disputes that could arise in the future.
- Escrow Services: Title companies act as escrow agents, holding funds related to the transaction in a secure account until all the loan conditions are met. This ensures that the borrower and lender fulfill their obligations before the funds are disbursed.
- Closing Coordination: The title company coordinates the closing process and ensures that all the necessary documents are properly prepared and executed. They work with all parties involved, including the borrower, seller, real estate agents, and other relevant stakeholders.
- Title Clearance: If any title issues or defects are discovered during the title search, the title company works to resolve these issues before the closing. This may involve clearing outstanding liens, obtaining necessary documents, or resolving ownership disputes.
- Recording of Documents: After the closing, the title company ensures that all relevant documents, including the mortgage or deed of trust, are recorded in the public records. Recording these documents officially establishes the lender’s lien on the property.
- Compliance and Legal Support: Title companies are well-versed in local laws and regulations related to real estate transactions. They support lenders to ensure compliance with all legal requirements throughout the lending process.
- Funds Disbursement: Once all the loan conditions are met, the title company disburses the funds to complete the transaction. This includes paying off existing mortgages or liens on the property and distributing funds to the appropriate parties.
- Quality Assurance: The title company’s expertise in title searches and examinations helps mitigate risks for lenders by ensuring that the property’s title is clear and marketable.
In summary, title companies assist lenders by conducting title searches, providing title insurance, coordinating the closing process, and handling all aspects of title clearance and funds disbursement. Their role is instrumental in facilitating secure and legally sound real estate lending transactions.
We are fully TRID-compliant. Furthermore, we protect your interest against any title defects by carefully reviewing your instructions to ensure all documents are executed promptly.
As a lender, working with Southern Title Abstract, Inc means:
- One single point of contact
- Full service on every transaction
- Timely and accurate title commitments
- Superior communication
- Knowledgeable and professional staff
- Contract upload capability or drop off
Contact us to make your subsequent closing your most effortless closing.