CoreLogic’s Title and Closing Solution moves title professionals into a systemized process flow for increased efficiency

The title industry currently faces frustrating communication challenges. Agents often have to receive and communicate orders from lender partners through a combination of emails, phone calls, faxes and even traditional mail. It’s difficult to transmit documents securely, and vendors want a standard, systematic way to receive orders from lenders.

The CoreLogic Title and Closing Solution eases these pain points for lenders and settlement providers by syncing order acceptance and management while securing vendor communication and document transfer.

The encompassing solution supports retail origination, home equity and default servicing lending channels. These benefits culminate in an improved borrower experience and peace of mind during the home ownership experience, regardless of the lending channel.

The Title and Closing Solution replaces the outdated and unorganized methods of receiving and communicating on title and closing orders by moving title professionals into a systemized process flow.

As a result, the Solution establishes a convenient connection with their lender partners and facilitates secure communication and document transmission, helping to keep orders moving forward more effectively. And because these features are incorporated within the application, the potential risk of wire fraud is reduced over traditional practices.

Automating and standardizing communication and secure document transmission means both parties can gain efficiencies in their workflow. More organized workflows allow for the automation of many tasks in the underwriting process and free up resources to focus attention on more important tasks that require human interaction.

The Title and Closing Solution also removes delays that existed in prior delivery channels, giving lenders more time to perform a full review for accuracy and increasing the likelihood of closing time guarantees.

In addition, by removing all the channels that are unmanageable in terms of data security, the Solution allows for controls to be put in place to protect the borrower’s non-public personal information (NPPI) data.

Through the Title and Closing Solution, lenders can automate vendor selection and allocation, and may also consolidate vendor onboarding and management within a single application.

The Solution provides all tools necessary for title and settlement agents to accept and manage title orders, improve communication and more easily adopt information security practices.

The expanding settlement agent network at CoreLogic encompasses the most prominent names in the industry, allowing lenders to assign orders – at a local, regional and national level – directly to title companies, escrow agents, attorneys and settlement providers.

Users of the CoreLogic Title and Closing Solution appreciate that it allows them to handle their orders and transactions in a consistent, systematic way, even across multiple lenders.

CoreLogic is committed to pioneering tech-focused advancements in the mortgage and underwriting process, and its Title and Closing Solution is part of its efforts to build an end-to-end workflow process within the industry. The Solution is also a critical piece of the AutomatIQ Collateral vision of bringing all necessary collateral solutions used by lenders into a more fluid, automated workflow.