REO Title, Closing, and Rental Services
REO Title, Closing, and Rental Services, a division of First American's National Default Title Services (NDTS), provides a comprehensive national solution to serve the needs of the default real estate market.
Through the selection of services, our division has the unique ability to combine services from title order placement to closing management.
REO Title Services works with over 1,300 direct operations and title agents nationwide to obtain title products, perform title resolution, and ensure timely closings.
Our commitment to quality and timeliness will help our customer control their expenses while reducing their internal work load related to follow-up and coordination.
NDTS serves as the centralized point of contact for REO title and closing needs of government sponsored enterprises, lenders, servicers, and asset management companies.
First American Assets Closing Services' objective is to expedite closing of REO assets through our preferred local closing team.
The core services NDTS offers include REO title services, direct production services, asset closing services, and manufactured housing title services.
Services
REO Title Services
- Take and Place
- Order Center Services
- Vendor Management Services
- Client Management Services
- Information Technology
- NDTS Title Resolution Services
- NDTS Resolution Services
- Our service provides:
- Place Title and Closing
- Identify Title Issues and Coordinate Resolution
- Review all Closing and Title-Related Documents
- Direct Documents to Appropriate Parties for Signature
- Coordinate Closing Date and Location
- Review and Reconcile HUD-1
- Track Delivery of Sale Proceeds
- 24/7 Web access with Web Track
- Loan File Review
- Monitoring and Title Resolution
Value-Added Benefits
- One-stop nationwide order placement and data management
- Effortless management of title needs
- Aggressive monitoring ensures timely delivery of title products
- Quality of information and real-time status
- Title resolution with national underwriting authority
- File update every 10 business days or as often as necessary to meet scheduled closing date during the title resolution process
- Community relationships with local brokers
- Document review to ensure accurate vesting and fee timelines
- Accurate and prompt disbursements
- Extensive variety of production- and performance-related reporting available
- Coming 2nd Quarter 2009
NRRS will provide a centralized platform of services for government sponsored enterprises, lenders, investors, servicers, and asset management companies, establishing an efficient and administratively easy resource for leasing residential properties nationwide.
NRRS offers another tool for effectively managing and disposing of REO by:
- Converting REO from an expense to a revenue-generating asset
- Improving the control and flexibility of the timing and supply of REO being listed for sale on the market
- Providing readily adaptable processes into current residential servicing programs
Value-Added Benefits
- Leasing document generation and retention
- HOW insurance
- Renters insurance
- Landlord insurance
- Flood insurance
- Tenant screening
- Lease underwriting
- Lease collections
- Evictions
- Property tax and insurance administration
- Property inspections
- Home inspections
- Lease remittances
- Investor reporting
- Security deposit administration