The new White Paper published by AtClose, a division of Visionet Systems, takes a closer look at how title companies are working to improve their relationships with lenders. This is critically important right now because the borrower experience, which falls to both partners, is so important in a purchase money mortgage market.
As the market continues to slow down, this will be a key competitive advantage for title companies that can achieve higher levels of efficiency and deliver a better borrower experience.
As AtClose Senior Vice President Adeel Ahmad, on the release of the whitepaper points out: “The vast majority of borrower touchpoints fall to either the lender or the title agent, so they hold the key to a better borrower experience. Any inefficiencies or friction-related problems between these partners will almost certainly impact the borrower. That will reduce borrower satisfaction, to a minimum. It will also likely slow down the process, costing everyone more. The answer is better technology.”
But choosing the right technology can be a challenge. The new White Paper takes a closer look at the specific requirements title companies have and the criteria buyers can use to select the right new tools.
This couldn’t be more important right now, because if title companies don’t have an efficient system that can help them streamline the entire title production process, they will be unable to reduce the friction and become incapable of meeting the requirements of either the lender or the borrower.
That will cost them business in this new environment.
As a result, more title companies are reaching out to find out more about AtClose. While the new paper isn’t about our technology, it does provide a good starting point for evaluating any new title production platform. Any solution should meet the following minimum requirements:
- It must be based in the Cloud
- It must be easy to integrate, both internally and externally
- It must include vendor performance tracking and reporting
- It must offer better control of a robust UI/UX environment
- It must come with comprehensive workflows built into the system and IT support for creating new custom workflows
An additional concern for many title companies is freedom from any particular title underwriter. The right platform will allow the title company to work with any underwriter they wish.
Get all of the details in our new White Paper. You can download it for free here.