 Are you currently a home equity lender or are you considering getting into the home equity business? If so, then QuickClose may be the product to make you a more competitive home equity lender.
As competition in the mortgage market intensifies, many lenders are looking for new loan products and faster closings with lower costs—without additional risk. QuickClose provides you with the competitive edge to close home equity loans in hours, rather than weeks, while saving your clients up to 40% on title costs.
With QuickClose, a title report is no longer required as part of the underwriting process. QuickClose lien insurance will protect you against any liens, mortgages, encumbrances, etc. that are not disclosed on the loan application or found on the credit report. Other benefits include:
Cost Savings: QuickClose helps home equity lenders to close loans within hours of application, while saving your clients up to 40% on title costs.
Increased Production: Faster closings with lower costs to your clients give you the competitive edge.
Coverage: Loans are covered for the lien position as underwritten by the lender. (Includes first, second, or third position equity loans). All equity loans and lines up to $500,000 are covered.
Comprehensive: The lien protection insurance program also insures the bank for title ownership in the subject property. This is coverage that is not typically provided by mortgage impairment programs.
Speed: Title ownership in the property is verified post closing, thereby eliminating title turnaround time and fall out expense on loans that do not close.
Easy to Use: No additional documentation is required from the borrowers for coverage under the program.
Credit Endorsements: QuickClose additionally insures the bank for any mis-coded items on the credit report.
Gap Endorsement: Insurance coverage under the program is bound with the signing of the closing documents.
QuickClose is a product of Fiserv's Integrated Loan Services Division.
|
