29 Mar

How to Choose the Best Outsourcing Title Search Company

Title insurance is a unique financial instrument when compared to other insurance products. Simultaneously, the latter is for protection from future eventualities, title insurance guards against past incidents.

Title insurance companies have to be cautious when they conduct title search operations; else it can backfire. Hence, choosing a reputable outsourcing title search and settlement service provider is crucial for title insurance companies. Outsourcing to mortgage and title search companies not only helps decrease burden but also helps business grow as they work accurately and flexibly.

What considerations must title insurance agents take while outsourcing title search operations

  • Reputation

Title Insurance companies must find out about the brand image a title search company has in the market. A company with the below traits will have the right name for itself in the industry.

  1. Ample amount of experience conducting the entire range of searches required for title insurance companies
  2. Robust systems.
  3. Trained and skilled professionals
  4. Nationwide coverage and vast network.
  5. Advanced technologies and software products
  6. Transparent workflow
  7. Adherence to the latest information security protocols
  8. Multiple delivery centers
  9. Quickly implementable business continuity plan.

The above list can serve as a checklist to shortlist the probable companies to outsource title searches. After doing thorough due diligence, associate with a reputable organization. In doing so, it also inspires confidence in title insurance companies.

  • Range of Service

Looking at the long-term, it is always advisable to partner with a title search and settlement company that provides the entire range of searches.

Title insurance agents must check if these organizations are offering the below searches.

  1. Current Owner Search – Provides details of the current titleholder of the relevant property.
  2. Two Owner Search – Provides details of the present and the immediately preceding title holders of the subject property.
  3. 20-year/40-year/60-year- Provides details of all the titleholders starting from the current to the and the earlier title holders up to the number of years in the past based on the subject property’s requirement.
  4. Full Search – Provides details of all the titleholders starting from the present to the first titleholder when the property was created.
  5. Judgement Lien Search – Looks for if there are any judgment liens on the property or its owner and if it is pending or not.
  6. Environmental Lien Search – Finds out if there are environmental liens due to the property’s exposure to toxic and environmentally harmful products or substances.
  7. Municipal Lien Search – Finds out if there are liens placed on the property by the property’s jurisdictional municipality and its present status.
  8. Property Tax Search – A thorough search if the property owner or the titleholder has paid all the taxes levied on the property.
  9. Utility Search – Finds out if the bills to utility providers of electricity, water, sewerage, fire, etc., are paid.
  10. Update Search- Updates the details of a recently conclude title search.
  11. Date Down Search – A second search conduct just before closing
  12. Foreclosure Search – Finds out if the property is foreclosed or not.
  • Additional Services

Most of the well-known title search companies provide ancillary services like

  1. Indexing and Data Extraction- Extracting data from the comprehensive reports and indexing it according to your needs. It makes the recording of these documents easier.
  2. Policy Typing & Commitment Typing – Typing the extensive documents required for the insurance policy and commitment.

These enterprises can provide these services due to their experience, industry knowledge, skillful professionals, and broad network.

  • The Search Package Contents

The title search companies should be able to provide the following reports, certificates, and relevant documents.

  1. Appraiser Review Report
  2. Property Tax Statement
  3. Deeds
  4. Mortgage/Assignment/Subordination/Modifications/Affidavits
  5. Probate/Divorce/Will/Death Certificates
  6. Judgment Dockets & Liens
  7. Lease Documents
  8. Municipal Lien Certificate
  9. Easements/Right of Way/Restrictions
  10. Maps – Plat, GIS, Assessor & Tax
  11. Subdivision Plans
  12. Vesting Reports
  13. Ownership Reports
  14. Encumbrance Report
  15. Property Tax Report
  16. Property Tax Certificate
  • Nationwide Coverage and Wide Network

When you find fresh customers from new territories or plan to expand into new regions, the title search company with nationwide coverage would be a great asset. You can rest assured that your needs will be met with ease due to the vast network.

As you move into new states, some may mandate the requirements like the presence of an attorney for closing, ground abstractors, etc. In such scenarios, title search companies with a nationwide network will have these professionals readily available to support you.

  • Information Security Protocols

Reputable title search outsourcing companies take the data security of their clients seriously as the process involves gathering huge amounts of information. It includes financial, family, marital, personal, etc. All these pieces of information are private and should be treated with the highest security.

Title search companies must use the latest software products, their workflow, office spaces, and employees must strictly adhere to the newest information security protocols. Following the information security management systems like SOC II Type 2 and ISO 27001 is an excellent practice. Organizations that have implemented these systems can be blindly trusted with the data you share.

  • Technology

Modern software applications meant for title search delivers speed to the process. The turnaround times are negligible because of the automation. As manual entry is minimized, human errors are avoided, and it guarantees accuracy to the reports. These applications also render transparency to the workflow, which gives confidence to title insurance companies.

  • Experienced Professionals

Experienced examiners are the assets of a title search company. They must hire those who are the best in the business. The job requires them to detail-oriented and highly analytical as the process is data-driven.

  • Robust Business Continuity Plan

2020 proved that organizations without a healthy business continuity plan lack resilience. It showed that an easily implementable plan must be in place to face such eventualities. Title search companies with a healthy BCP can spring back into action in no time. It is possible for them because they have invested in advanced technology, the right people, and multiple delivery centers (offshore and onshore).

  • Customizability and Scalability

Whenever you have a specific requirement, the title search company should accommodate it seamlessly. And as you grow, the title search companies should be able to expand along with you.

Choosing the best title search company is similar to how you decide on a real estate agent, it’s vital to select the best title search company. A good title search company should deliver accuracy and fast turnaround times along with E&O insurance. When researching for title search companies, it is advised to take the above points into consideration to get the best result.  To avail Title Search and Settlement services, get in touch with us at Orchestrate.com

04 Aug

How Orchestrate is Emerging as a Leading Service Provider During Covid-19

orchestrateOrchestrate Mortgage and Title Solutions, LLC, has been emerging and expanding the business with remarkable achievements since the time of its establishment in 2009 and has been performing well even during this pandemic COVID-19. Orchestrate has been able to drive results at various levels and manage the crisis effectively, which has been mainly due to our flexibility and the operational framework that is followed.

During this pandemic, most of the business have been affected across the globe and the situation is at times compared to a  recession. Drawing lessons from 2007/2008 financial crisis in the US, we have been to turn the table to work to match real-time requirements and further accomplish the desired results of our clients.

Further, Orchestrate also assists clients in their business operations by providing innovative solutions based on their need to help overcome their core challenges. This will enable them to grow their business with more control, by bringing them under the convenience of a single-window service provider, thereby ensuring maximum quality and efficiency.  Here, at Orchestrate, we optimize the use of technology to reduce costs incurred by our customers/clients and their customers/clients with a powerful combination of distinctive expertise and skills at all the core areas of the organization.

Orchestrate Mortgage and Title Solutions, LLC, has always remarkably achieved completion of 100% orders with 99% accuracy and fast TAT of 4 Hrs. This achievement is due to our dedicated staff and our team of amazing people, guided by a rich organizational culture and framework. We have been able to perform well and achieve this during this pandemic;  although our staff have been working from home for some of our clients, they have been – providing the same level of remarkable results to those clients who want their work to be done within a secure and confidential environment (on-shore and offshore).

Orchestrate Mortgage and Title Solutions, LLC is looking forward to exploring, expanding and achieving more for its clients in the coming days.

25 Oct

Orchestrate Mortgage and Title Solutions, LLC to participate in MBA’s Annual Convention & Expo Austin Texas 2019

Orchestrate Mortgage and Title Solutions, LLC, has announced its participation in the MBA’s Annual Convention & Expo Austin Texas 2019. This premier event focuses on the latest trends and innovation in mortgage servicing including process improvement, resource management, quality control, data privacy, and much more. The conference will provide the company a chance to meet and interact with current and future clients across the industry.

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12 Mar

What does a Tax Reporting firm do?

Tax Reporting Firm

The objective of a Tax report is to accumulate the details of all the tax-related information associated with a property. The information would include the figures and status of vesting property tax that the owner(s) of the property have to pay to county administration, municipal bodies, banks, and other institutions. The comprehensive report is crucial for carrying out various commercial and financial transactions related to the property such as the sale of the estate or pre-closure of a mortgage loan.

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06 Feb

What is the role of a Title Examiner?

Title ExaminerThe primary task of a Title Examiner, also known as an Abstractor, is to search and summarize title records of real estate. The legal documents and insurance records have to be summarized for a variety of purposes. It’s because, for land or building to be sold, its title has to be clear of liens or legal issues. Any buyer who wishes to buy a property would get its title checked before beginning the purchasing process. Only when the title is clear will the buyer be able to get a loan sanctioned to by the property by a financial institution. Read More

22 Jan

Why is Title Service Important?

Why is Title Service important

The process of purchasing a home includes a set of complex procedures. It starts with the initial step of searching for the house that fits your budget and needs and concludes with gaining its ownership. Some of them are mandatory, which otherwise could risk the entire investment. Reviewing the title, as well as the profile report of the property, is one such important step.

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