New Advances in Approval Software Tools with Linear Title and Closing
May 11, 2013
Linear Title & Closing is a highly efficient leading national title agency that specializes in processing a wide variety of loans for lenders. It has recently released an updated version of its software tool called "Change of Circumstance". This software is helping lenders dramatically accelerate an approval during its processing of a loan application. “When rates are low, the tool has its biggest impact”, says Nick Liuzza, CEO of Linear Title. processing of a loan application.
The “Change of Circumstance” tool gives the lender a strong competitive advantage by having the ability to make a loan amount change in its Loan Ordination System. That change triggers a request for updated fees and updated title documents. Linear Title then returns updated guaranteed title fees, an updated title commitment and Pre-Hud all in a matter of seconds sent directly to the lender's platform.
Linear Title is capable of performing this function in all 50 states and accords multiple transaction types which include: Refinance, Purchase, Short Sale, REO and Reverse. It also provides default servicing products to banks and servicers. Linear Title and Closing has developed and owns several products designed to increase efficiency in addition to "Change of Circumstance".
Liuzza from Linear Title also explains “Most lenders utilizing the tool are highly automated and the gain in efficiency allows them to accomplish tasks in seconds that take their competitors hours or days. If you think for a second how this process is being performed by most title agencies and factor in the time saved, then you can start to realize the savings multiplied by hundreds of loans a day. The numbers and savings that the tool provides are scary for competitors using a more manual process”.
Most Lenders need to go to their title company’s website to obtain new fees and then request updated title documents while those that utilize Linear Title's tool have already delivered that information to their clients.
The "Change of Circumstance" tool is available through Linear Title and Closing's web portal, http://www.lineartitle.com.
About Linear Title & Closing
Linear Title is a highly efficient national title agency process a wide variety of loans for lenders. The company also provides default s servicing products to banks and servicers. The company has developed and owns several products designed to increase efficiency.