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Case Study on Title Search Services

Overview

When you obtain mortgage financing to assist you in paying for your new home, one part of the loan process is the title search. The title search is an inspection of all of the financial obligations involving the property in question. This includes such actions as lawsuits, liens, legal claims, and others actions that might impact the sale of the property.

Client

Title settlement and insurance firm - MD and VA

Client's Challenges

Administrative staff attrition
TAT
Managing peak seasonal load

O2I's Back Office Services Provided

Handle ALL incoming faxes for the title search firm and sort them into correct folders
Open new orders and contracts (Purchase/2ndMortgage/HELOC/Refinance)
Open file in the TSS software and update company dashboard
Talk to the loan officer for missing info
Fax the seller information sheet to the listing agent
Order updated payoff statements
Order title searches (Full, Current, Bring-to-date) / Surveys / Lien Certs)
Get the property tax information from the County Tax Office
Prepare a binder and closing protection letter
Prepare a 24-months chain of title
Schedule the closing in the company calendar and inform everyone required to be present
Post-settlement paperwork

Impact on Client's Business

Staff and related expenses cut significantly
Faster TAT
Seasonal load managed well

At Outsource2india, we have been providing accurate and high-quality Finance and Accounting Services for our global customers, enabling them to save on time, effort, infrastructure and revenue. Read more finance and accounting services case studies on Equity Research, Accounts receivable, Bank Loan Production, Financial Research, Billing and HR Support.

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