Product Suite Review


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A quick review of some of American Title, Inc\'s offerings.

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Product Suite Review

  1. 1. Product Presentation <ul><li>American Title, Inc </li></ul><ul><li>11010 Burdette St. </li></ul><ul><li>Omaha, NE 68164 </li></ul><ul><li>Josh Livingston </li></ul><ul><li>Client Relations Manager </li></ul><ul><li>402.778.4117 </li></ul><ul><li>[email_address] </li></ul>
  2. 2. American Title, Inc. <ul><li>W HO W E A RE </li></ul><ul><ul><ul><ul><li>F AMILY O WNED AND O PERATED </li></ul></ul></ul></ul><ul><ul><ul><ul><li>H EADQUARTERED IN OMAHA, NEBRASKA </li></ul></ul></ul></ul><ul><ul><ul><ul><li>“ S ERVICE W ITHOUT B OUNDARIES ” </li></ul></ul></ul></ul><ul><ul><ul><ul><li>N ATIONWIDE C OVERAGE </li></ul></ul></ul></ul><ul><ul><ul><ul><li>2 00+ E MPLOYEE S TRON G </li></ul></ul></ul></ul>
  3. 3. Why American Title? <ul><li>Single Source Solution </li></ul><ul><ul><li>Elite, full service provider </li></ul></ul><ul><ul><li>All origination, post-closing, and servicing functions completed under one roof </li></ul></ul><ul><li>Account Support </li></ul><ul><ul><li>Dedicated Customer Support Team </li></ul></ul><ul><ul><li>Instant Response Policy (IRP) </li></ul></ul><ul><li>Product Flexibility & Customization </li></ul><ul><ul><li>Customizable solutions and processes </li></ul></ul><ul><ul><li>Dedicated to continually improving products and services </li></ul></ul><ul><li>Superior Coverage </li></ul><ul><ul><li>Extensive database of over 70,000 rated contacts </li></ul></ul><ul><ul><li>Monitored daily, reviewing turn-times and quality of information </li></ul></ul><ul><li>Confront Problems Head-On </li></ul>
  4. 4. Title Information <ul><li>American Title is a leading provider of Title Information Services because of our expansive coverage of county information outside of an abstractor network. </li></ul><ul><ul><ul><li>Blend of retrieval resources updated daily to provide leading coverage </li></ul></ul></ul><ul><ul><ul><li>Team experience in title research providing highest level of accurate retrieval </li></ul></ul></ul><ul><ul><ul><li>Traditional title relationships supplying superior online coverage surpassing all other resources in the standard document retrieval industry </li></ul></ul></ul><ul><ul><ul><li>Flexible ordering and delivery options </li></ul></ul></ul><ul><ul><ul><li>Online status and order viewing 24 hours a day, 7 days a week </li></ul></ul></ul>
  5. 5. <ul><li>Products American Title Offers: </li></ul><ul><ul><li>Title Insurance (Standard & Tiered Rate) </li></ul></ul><ul><ul><li>Title Reports </li></ul></ul><ul><ul><li>Platinum Suite of Products </li></ul></ul><ul><ul><li>Appraisal Services </li></ul></ul><ul><ul><li>Flood </li></ul></ul><ul><ul><li>Settlement Services </li></ul></ul><ul><ul><li>Recording </li></ul></ul>
  6. 6. Title Insurance <ul><li>Being a full service title provider, ATI provides many title insurance programs to lenders nationwide. Our expertise in the title industry enables us to efficiently use full ALTA Title Insurance with an unmatched level of service in the industry. </li></ul><ul><li>Standard ALTA Title Insurance </li></ul><ul><li>Instant Title </li></ul><ul><li>Tiered Pricing </li></ul><ul><li>Mortgage Priority Guarantee </li></ul>
  7. 7. Title Insurance Cont……. <ul><li>Standard Full ALTA Title Insurance </li></ul><ul><li>2-3 day average turn time </li></ul><ul><li>Short Form </li></ul><ul><li>Extended Form </li></ul><ul><li>Endorsements </li></ul><ul><li>Refinance/Reissue Rates Available </li></ul>
  8. 8. Title Insurance Cont……. <ul><li>Benefits: </li></ul><ul><li>Reduced Transaction Turn Time </li></ul><ul><ul><li>Utilizes Old Republic Credit Services to establish insurability on qualifying refinance transactions </li></ul></ul><ul><ul><li>Go to close/hold for information decisions within 5-10 minutes of order placement </li></ul></ul><ul><li>Accelerated ALTA loan policy delivery, No reduced Coverage </li></ul><ul><ul><li>Master Residential Loan Policy* </li></ul></ul><ul><ul><li>Insures validity, priority and enforceability of mortgages </li></ul></ul><ul><ul><li>*Not Available in FL, OR, and TX. </li></ul></ul><ul><li>Availability </li></ul><ul><ul><li>Not available in AK, ID, MO, ND, NM, OK, OR, SD, TX, WA, and WY due to specific state regulations requiring a courthouse search </li></ul></ul><ul><ul><li>Traditional title performed in remaining states </li></ul></ul>InstantTitle is a new concept in title insurance and settlement services being offered by ATI via Old Republic Title Insurance, one of the top 5 title insurance underwriters in the United States.
  9. 9. Title Insurance Cont….. <ul><li>InstantTitle Continued….. </li></ul><ul><li>Loan Qualifications for InstantTitle </li></ul><ul><li>Conventional loans </li></ul><ul><ul><li>Reverse Mortgage transactions, Refinance transactions or home equity transactions only </li></ul></ul><ul><li>Property Type </li></ul><ul><ul><li>Single Family Residence, Condominium, PUD, Primary or secondary homes </li></ul></ul><ul><li>Maximum Loan Amount - $1,500,000 </li></ul><ul><li>Credit Score Baselines </li></ul><ul><li>Use of Old Republic Credit Services required </li></ul><ul><li>Credit Score of 620 and higher </li></ul><ul><li>Qualified Loan – no LTV Limit </li></ul><ul><li>Credit Score of 619 and below requires a standard title search </li></ul>
  10. 10. Title Insurance Cont….. <ul><li>Standard Full ALTA Title Insurance – Tiered Rates </li></ul><ul><ul><li>Reduced title insurance premium program for eligible refinance transactions ordered through ATI’s’s centralized processing center </li></ul></ul><ul><ul><li>ALTA Short Form Commitment and Residential Loan Policy which is widely accepted by GSE’s and investors </li></ul></ul><ul><ul><li>Average Turn-Time - 48 – 72 Hours </li></ul></ul><ul><ul><li>Endorsements Included at no additional cost </li></ul></ul><ul><ul><li>Discounted Tiered Rates available in 28 States </li></ul></ul><ul><ul><li>Accelerated Clear-to-Close Process </li></ul></ul>
  11. 11. Title Insurance Cont….. <ul><li>Direct Licensed states non-tiered: </li></ul><ul><ul><li>Arizona </li></ul></ul><ul><ul><li>California </li></ul></ul><ul><ul><li>Delaware </li></ul></ul><ul><ul><li>Hawaii </li></ul></ul><ul><ul><li>Kansas </li></ul></ul><ul><ul><li>Massachusetts </li></ul></ul><ul><ul><li>Montana </li></ul></ul><ul><ul><li>New Hampshire </li></ul></ul><ul><ul><li>New Jersey </li></ul></ul><ul><ul><li>New York </li></ul></ul><ul><ul><li>North Carolina </li></ul></ul><ul><ul><li>Pennsylvania </li></ul></ul><ul><ul><li>Rhode Island </li></ul></ul><ul><ul><li>Vermont </li></ul></ul><ul><ul><li>Washington </li></ul></ul>American Title offers tiered pricing in states that allow it. <ul><li>Partner States: </li></ul><ul><ul><li>Alaska </li></ul></ul><ul><ul><li>Idaho </li></ul></ul><ul><ul><li>New Mexico </li></ul></ul><ul><ul><li>North Dakota </li></ul></ul><ul><ul><li>Oklahoma </li></ul></ul><ul><ul><li>Oregon </li></ul></ul><ul><ul><li>South Dakota </li></ul></ul><ul><ul><li>Texas </li></ul></ul><ul><ul><li>Wyoming </li></ul></ul>
  12. 12. Title Insurance Cont….. <ul><ul><li>Mortgage Priority Guarantee </li></ul></ul><ul><ul><li>The MPG Endorsements guarantee that the loan being modified (for any reason) maintains its same lien priority, if any. This is a guarantee, not an insurance policy. </li></ul></ul><ul><ul><li>Simplicity of Use – Order a certificate of coverage to go hand in hand with Property Report </li></ul></ul><ul><ul><li>Covers Freddie Mac, FHA, VA, HUD & Private Investor Loans </li></ul></ul><ul><ul><li>You decide when needed </li></ul></ul><ul><ul><li>No previous policy required </li></ul></ul><ul><ul><li>All States, except: AK, FL, MT, NJ, NM, NY, OR, PA, TX </li></ul></ul>
  13. 13. Title Reports <ul><li>Property Report </li></ul><ul><li>Last Vesting Deed </li></ul><ul><li>Mitigation Report </li></ul><ul><li>Graded Property Report </li></ul><ul><li>Construction Loan Report </li></ul><ul><li>TAX Certificates </li></ul><ul><li>Any of the above products can include pertinent pages of the supporting documents that made up the search. Such as deed, mortgages, judgments, etc </li></ul>
  14. 14. Title Reports Cont….. <ul><li>Property Report </li></ul><ul><li>Features </li></ul><ul><ul><li>A review of the property from when the current owner took possession. </li></ul></ul><ul><ul><li>Report includes: </li></ul></ul><ul><ul><ul><li>Vesting </li></ul></ul></ul><ul><ul><ul><li>Full Recordable Legal Description </li></ul></ul></ul><ul><ul><ul><li>Conveyance Information </li></ul></ul></ul><ul><ul><ul><li>Open Liens, Judgments, and Mortgages </li></ul></ul></ul><ul><ul><ul><li>Current Tax Information </li></ul></ul></ul><ul><li>Report Benefits </li></ul><ul><ul><li>Largest Database of Abstractors – Nationwide </li></ul></ul><ul><ul><li>Abstractor Rating System – Goal “Keep Only the Best” </li></ul></ul><ul><ul><li>Nationwide Average Turn Time – 48 Hours </li></ul></ul>
  15. 15. Title Reports Cont…… <ul><li>Last Vesting Deed Report </li></ul><ul><li>This is a scaled down version of the Property Report. It contains information stemming from the last deed of record </li></ul><ul><ul><li>Report Contains: </li></ul></ul><ul><ul><ul><li>Vesting </li></ul></ul></ul><ul><ul><ul><li>Full Legal </li></ul></ul></ul><ul><ul><li>Report Benefits </li></ul></ul><ul><ul><ul><li>Recordable Information </li></ul></ul></ul><ul><ul><ul><li>Nationwide Average Turn Time – 24 Hours (% under 24) </li></ul></ul></ul>
  16. 16. Title Reports Cont…… <ul><li>Mitigation Report </li></ul><ul><li>This report is used normally by the loss control groups. When a property is distressed and the lender is unsure of the status of the subject lien, this report will assist. We will review and locate the subject lien and report all information forward on that lien. This search is not limited to the current owner and will search back any number of owners until locating the subject lien. If the subject lien has been closed for a particular reason, that is also noted on the report. </li></ul><ul><li>Features </li></ul><ul><ul><li>Legal </li></ul></ul><ul><ul><li>Vesting </li></ul></ul><ul><ul><li>Open Liens, Judgments, and Mortgages </li></ul></ul><ul><ul><li>Current Tax Information </li></ul></ul><ul><li>Report Benefits </li></ul><ul><ul><li>Subject Loan Search vs. Current Owner </li></ul></ul><ul><ul><li>Nationwide Average Turn Time – 48-72 Hours </li></ul></ul><ul><ul><li>Knowledge of Distressed Deed Reporting </li></ul></ul>
  17. 17. Title Reports Cont…… <ul><li>Graded Property Report </li></ul><ul><li>The Graded Property Report contains all the same features and benefits of the Property Report but with one large bonus, it is graded for you. Relieve your staff of the tedious task of reviewing a title, only to find additional work or research need to be done. You can establish the standards in which a Pass/Fail can be given and then we can review and grade it. </li></ul><ul><li>The simple message of PASS or FAIL can be delivered with a cover sheet to the report or even as efficient as sending a message via an XML transmission. </li></ul>
  18. 18. Title Reports Cont…… <ul><li>Graded Property Report A Perfect Loan Modification Solution </li></ul><ul><ul><ul><ul><li>We have access to actual title products or alternatives products to help lenders deal with the huge increase in Loan Modifications. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Key Advantages: </li></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Better coverage than anybody on the Graded Property Reports </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Access to alternative products that will save lenders $$, which nobody else is currently offering </li></ul></ul></ul></ul></ul>
  19. 19. Title Reports Cont…… <ul><li>Construction Loan Report </li></ul><ul><li>The Construction Loan Report is used on construction loan projects that involve draw disbursements. The report reviews from the construction ‘loan filing date’ forward. It looks for any new deeds or liens that have been put on the property. It will also report if the taxes are delinquent. </li></ul><ul><li>Features </li></ul><ul><ul><li>Legal </li></ul></ul><ul><ul><li>Vesting </li></ul></ul><ul><ul><li>Open Liens – Voluntary and Involuntary </li></ul></ul><ul><ul><li>Tax Information </li></ul></ul><ul><li>Benefits </li></ul><ul><ul><li>Pricing – Geared to meet the short term of this property </li></ul></ul><ul><ul><li>Nationwide Turn Time – 72 hours Guaranteed </li></ul></ul><ul><ul><li>Client Confidence when giving draws – knowing exactly where they stand each and every time </li></ul></ul>
  20. 20. Title Reports Cont…… <ul><li>Tax Certificates </li></ul><ul><li>American Title’s nationwide coverage of tax information, along with our specialized and experienced tax staff, creates the foundation supporting us as one of the premier providers of all tax reporting services. This nationwide coverage and dedicated staff will benefit you by providing Tax Certification Reports. </li></ul><ul><li>Certificates Contain: </li></ul><ul><li>Also available is added protection for loss due to error on the Tax Certification Report Up to $50,000. </li></ul>* Tax Account Numbers * Tax Amounts * Payment Status * Delinquencies * All Taxing Authorities * Address(es) where tax payments are sent
  21. 21. Platinum Suite of Products <ul><li>Platinum Property </li></ul><ul><li>Platinum Express </li></ul><ul><li>Post Closing Platinum </li></ul>
  22. 22. Platinum Suite of Products Cont….. <ul><li>Platinum Property Equity </li></ul><ul><ul><li>This report contains the same standard information as a Property Report, but the Platinum series carries an Enhanced E&O Coverage. This coverage is up to 500K and can be priced on tiers. This product does have some limits to usage based on loan requirements. </li></ul></ul><ul><ul><ul><ul><li>FICO Score of 580 or higher </li></ul></ul></ul></ul><ul><ul><ul><ul><li>LTV cannot exceed 95% </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Offers protection against fraud and the period of the report completion to recordation. </li></ul></ul></ul></ul><ul><li>Platinum Express </li></ul><ul><ul><li>This report is used on Home Equity loans only. It utilizes a legal and vesting report, paired with your group’s credit report. Loan requirements for this product are : </li></ul></ul><ul><ul><ul><ul><li>FICO Score of 620 or higher </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Primary residence only </li></ul></ul></ul></ul><ul><ul><ul><ul><li>LTV cannot exceed 95% </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Offers protection against fraud and the period of the report completion to recordation. </li></ul></ul></ul></ul>
  23. 23. Platinum Suite of Products Cont….. <ul><li>Post Closing Platinum </li></ul><ul><li>This program allows lenders to eliminate the costly process of Document Retrievals for loan files with missing title policies. </li></ul><ul><li>Warranted Program to provide protection due to loss from missing title policies </li></ul><ul><li>Eligible Loans – Refinance, Reverse and Second Mortgages, as well as Home Equity Loans </li></ul>
  24. 24. Appraisal Services <ul><li>1004 – Full Appraisals </li></ul><ul><li>2055 – Drive-by Appraisals </li></ul><ul><li>AVMs/HVE (Freddie Mac product) </li></ul><ul><li>BPOs </li></ul>
  25. 25. Flood <ul><li>Flood </li></ul><ul><ul><li>Life of Loan </li></ul></ul><ul><ul><li>Census tract data included </li></ul></ul><ul><ul><li>HMDA information included </li></ul></ul><ul><ul><li>Flood insurance can be available thru a partner </li></ul></ul>
  26. 26. Settlement Services <ul><li>Service Features </li></ul><ul><ul><li>Preparation of HUD </li></ul></ul><ul><ul><li>Obtaining Payoff Information </li></ul></ul><ul><ul><li>Loan Document Execution </li></ul></ul><ul><ul><ul><li>Face to Face </li></ul></ul></ul><ul><ul><ul><li>By Phone </li></ul></ul></ul><ul><ul><li>Disbursement of Loan Proceeds </li></ul></ul><ul><ul><li>Recordation </li></ul></ul><ul><li>Benefits </li></ul><ul><ul><li>Nationwide Database of Notaries, Attorneys and Title Companies </li></ul></ul><ul><ul><li>Completely Customizable </li></ul></ul><ul><ul><ul><li>Create a process to include the services needed </li></ul></ul></ul><ul><ul><li>Evening and Weekend Closings </li></ul></ul><ul><ul><li>24 Hour Status available thru website </li></ul></ul>
  27. 27. Recordation Services <ul><li>Quality Control Check </li></ul><ul><ul><li>Jurisdictional Formatting </li></ul></ul><ul><ul><li>Recording Requirements </li></ul></ul><ul><ul><li>County Fees and/or Mortgage Tax </li></ul></ul><ul><li>Quick Handling </li></ul><ul><ul><li>Documents sent via UPS </li></ul></ul><ul><ul><li>Comfort of constant tracking </li></ul></ul><ul><li>County Follow Up </li></ul><ul><ul><li>Constantly monitoring until receipt of recorded document from county </li></ul></ul>