iTitleTransfer Introduces Attorney Opinion Letter Closing Platform

1. Alternative Closing
Process Saves Lenders,
Borrowers, and Realtors
Unnecessary Title
Insurance Costs
The Nation’s First Program Providing a GSE
Compliant Alternative for Closing and
Ownership-Transfer Services

2. The
Problem

3. Title Insurance: The Status Quo Problem
✓ Monopoly of four title insurance companies
✓ $26 Billion Title Industry’s annual revenue, 3-5% customer claims paid and of this
small number, clients are often forced to sue before claims are paid
✓ 75% of title searches reveal “clean-title” rendering title insurance unnecessary to
transfer real property
✓ Consumers, Realtors, and Investors are denied choice of closing alternatives
✓ Title Insurance pricing is uncorrelated to risk

4. Inefficiencies of Title Insurance
✓ 10,000 offices:
excessive brick
& mortar
✓ High direct and
agency labor costs:
200,000 employees
✓ Reliance on 3,100
county land registry
offices
✓ Title insurance companies
execute 85% of foreclosures
on insured customers

5. The
Solution

6. iTitleTransfer’s Solution
✓ Provides a safe, reliable, low-cost closing and ownership-transfer
service using Intelligent Digital Solutions and issuance of a
Warranty Deed backed by a GSE-compliant Attorney Opinion
Letter.
✓ Provides consumer choice that is correlated to risk which helps our
clients avoid unnecessary costs associated with the traditional
issuance of title insurance.
✓ Provides end-to-end protection for Lenders, Investors, Buyers,
Sellers and Realtors and includes Deed Monitoring.

7. Enhances Lender and Seller Performance
✓ Provides consumer
choice while
reducing closing
and transfer costs
✓ Protects with Warranty
Deed, GSE-compliant
AOL, and Deed
Monitoring
✓ Improves the
timing associated
with closing and
ownership
transfer

8. Closing and Transfer Process
✓ Place Order(s), providing Purchase & Sale Agreement(s)
✓ Search, Examination, Proprietary Risk Scoring
✓ Curative Services, Attorney Opinion Letter, Escrow
✓ Document Preparation, eNotary & eSign
✓ Warranty Deed-based Ownership Transfer, eRecording
✓ Custom Reporting, Land Registry Deed Monitoring

9. Closing and Transfer Process Solution
Purchase & Sales
Agreement
Place
Order
Search
Land Registry
Chain of title
Report Examination
Curative
Services
Proprietary
Scoring
Attorney
Opinion Letter Escrow Document
Preparation
Ownership
Transfer
eNotary & eSign eRecording Custom
Reporting
Deed
Monitoring

10. Place Order with Purchase & Sale Agreement
✓ Place Order by sending email to Order@iTitleTransfer.com; attach
Purchase & Sale Agreements.
✓ Purchase & Sale Agreement serves as the basis for opening an order to
transfer real property
✓ Commence Search & Examination
✓ Vesting and legal description identified

11. Search, Examination, Chain of Title,
Attorney Opinion Letter and Escrow
✓ Search establishes the chain of title including mortgages, liens and
encumbrances
✓ Examination determines the actions necessary to transfer ownership
✓ Title Report sets forth legal description, vesting and legal status
✓ Escrow designates party to hold and disburse estimated closing costs
✓ Attorney Legal Opinion describes current ownership rights, as well as
actions to be taken to enforce ownership rights.

12. Proprietary Scoring and Curative Services
✓ Scoring is iTitleTransfer’s proprietary model categorizing assets, subject to
closing and/or transfer, into three “traunches” reflecting the assets for:
✓ Score 1: “Clean” providing for immediate closing and transfer
✓ Score 2: “Curative action” required which leads to closing and transfer
✓ Score 3: “Extensive underwriting” recommended, which leads to the referral to
an affiliated title agency title
✓ Curative process corrects typographical errors or inconsistencies with the
vesting and/or legal description

13. Document Preparation, eNotary & eSign
✓ Provides traditional escrow instructions and disclosures
✓ Closing and transfer documents including a Warranty
Deed and an Attorney Opinion Letter are prepared by
iTitleTransfer.
✓ eNotary validates the signatures; authenticates the
execution of agreements and legal documents
✓ eSign Act federal law allows electronic records and
signatures same legal effect as handwritten signatures.

14. Warranty Deed & eRecording
✓ Warranty Deed is legal document that transfers ownership from Grantor to
Grantee. The official “proof-of-transfer” for real estate
✓ The Warranty Deed represents the seller’s (grantor’s) right, title and interest
in the real property; and the legal authority to transfer to buyer (grantee)
✓ To eRecord a document is to submit it for digital record-keeping. In
available jurisdictions, these documents hold the same legal merit as a
paper document.
✓ For real estate closings to be eRecorded; land transfer documents need to
be digital. iTitleTransfer coordinates the eRecording, or traditional local
recording.

15. Deed Monitoring & Custom Reporting
✓ Client reports include date order(s) opened, date of Purchase & Sale Agreement,
purchase amount, authorized buyer/seller, assigned iTitleTransfer examiner, date
of title report, curative services, location of transaction, date of signing, recording
date of transfer documents
✓ Weekly or Monthly monitoring services detect fraud and provide an alert when
unusual activity is identified in public land registry offices
✓ Weekly or Monthly alert and monitoring identifies title fraud, mortgage fraud,
illegal ownership change, illegal foreclosure, home equity fraud and invalid lien
filing

16. Engagement

17. Engagement
✓ Loan Originators
✓ Wholesale Lenders
✓ Sellers of Loans to Government Sponsored
Enterprises(GSEs)
✓ Investors in SFR loans and Real Property
✓ Retail Buyers and Sellers
✓ Realtors representing Buyers and Sellers

18. Contact information
Theodore H. Sprink, Managing Director
iTitleTransfer, LLC
P. O. Box 1256
Scottsdale, Arizona 85252
Tel: 866-494-3727
tsprink@ititletransfer.com
www.iTitleTransfer.com
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