First National Bank of Omaha (FNBO) and ATS Secured have announced their unique joint solution to the settlement and title industry that reduces wire fraud and data errors, shortens closing times, and helps
settlement agents increase closing volume, the companies said.
The CPD programs are delivered face-to-face to real estate agents, business brokers,
settlement agents, real estate sales representatives and real estate property managers, who are licensed or registered under Western Australian legislation and carrying out business in this State.
AtClose gives
settlement agents complete control over which documents will be pushed for e-signatures, and when they should be made available to the respective individual(s).
In its first phase, the platform which manages the communications between borrowers, co-borrowers, real estate agents, sellers, attorneys, lending staff, title agents and
settlement agents on mortgage transactions will be offered as a standalone product.
A company press release notes that "The Simplifile Collaboration service allows lenders to interact with
settlement agents in real time to determine the appropriate fees for a transaction.
Curiously,
settlement agents receive no payment from the lender for their services in that capacity.
This was a fantastic opportunity to remind Director Cordray of the important role title and
settlement agents play in the safe and efficient transfer of real estate.
In its first phase, the platform -- which manages the communications between borrowers, co-borrowers, real estate agents, sellers, attorneys, lending staff, title agents and
settlement agents on mortgage transactions -- will be offered as a standalone product.
It offers connectivity to a network of
settlement agents, and support for data-validated electronic mortgage, including electronic document delivery (e-delivery), e-signature, e-closing, and e-recording as well as electronically registering and submitting the mortgage note to an electronic vault.
SJV Burlingame, California-based CompianceEase announced the release of a new solution to enable lenders and
settlement agents to communicate more seamlessly and exchange data securely to remain in compliance with the Know Before You Owe borrower disclosure rule.
The Cognops Plan B Portal collaborates electronically with
settlement agents for their required data inputs for the Loan Estimate and Closing Disclosure via simple email invitation.
Regrettably, the Bureau continues to use a tolerance concept that has resulted in consumers receiving inflated estimates and prevents title and
settlement agents from competing fairly with one another.
