Specialty Products
Titleserv offers a full array of title, closing, and appraisal products and services. Our specialty products include:
CEMA Process
The primary challenge with the New York CEM process is a result of regional market practices. In New York, settlement and title service providers are rarely one in the same. Most lenders use numerous settlement agents that allow for varying processes and lack of vendor accountability. Secondly, proper settlement of a CEM transaction often requires additional work unique to each loan.
Pursuing missing intervening assignments, securing and reviewing collateral packages, and knowing the county-by-county requirements to properly record CEM documents are essential. Salability is the key measure and bottom line result expected of us from our lender client. Titleserv understands this and delivers.
FasTrak Program
FASTRAK is a credit based, accelerated title product designed to expedite loans that require minimal or no curative work. Underwritten by First American, FASTRAK offers full 1992 ALTA short-form title insurance, widely accepted in the secondary market, but with an upfront qualification process that can approve transactions for title insurance - in less than 2 minutes!
With the lenders approval, your borrower's information is processed by our automated system. Once your borrower has been approved, a closing date may be set. Your borrower will be required to execute a Mortgagor's Affidavit at or prior to the closing date.
Reverse Mortgages
The precarious financial situation that many senior citizens are faced with makes taking on a forward mortgage a big risk. It is this hardship that was the driving force behind the concept of the Reverse Mortgage.
A Reverse Mortgage allows a qualifying homeowner to convert the equity in their home to cash, providing a way to help senior citizens maintain their personal and financial independence.
A Reverse Mortgage loan can be paid to the customer all at once, as a regular monthly advance, or at times and in amounts that they choose. The customer pays the money back plus interest when they pass away, sell their home, or permanently move out of their home.
Titleserv is proud to offer a highly trained staff that is knowledgeable and aware of the special care that must go into each Reverse Mortgage transaction. Our desire to work closely with the customers to assist them through the loan transaction is our way of making a real difference in each of their lives.