The Title Insurance industry is undergoing a transition. With unpredictable market conditions and the heavy influence of technology, Title agents are expected to cater to the changing demands of their lender clients, that too in aggressive time frames, meeting all compliance norms. The inability to cope up may hamper their overall business, impacting margins across operations. Also, with the new CFPB guidelines, lenders are now responsible for the actions of their service providers. Title agents today are expected to meet all relevant regulations. All of this put together, has impacted cost and time. It has simply become too expensive and time consuming for title agents to keep their functions across the spectrum of settlement services entirely in house.
In order to manage margins better, Title Agents are now open to exploring and implementing digitization and technology implementation. This could be across building better technology or outsourcing work to capable partners or both. Title agents/agencies are really looking for new ways to reduce costs at enhanced levels of quality and service.
As a comprehensive provider of technology driven products and solutions for the Title Insurance & Tax, Mortgage and Banking industry, Coforge BPS delivers property search solutions through their product, SmartProp. It is a technology enabled property title search solution for ownership and lien reports. Backed by 15 years of industry experience, the product assures, 50% faster delivery*, a web based technology for real-time placement and tracking of orders, nationwide coverage through online and strong abstractor network, easy Integration with leading title platforms. E.g. ResWare. This product is applicable for Title Agents and investors for Loan Processing, Default Servicing & Portfolio Purchase/Sale.
In addition to SmartProp, Coforge BPS also provides municipal lien search and property tax reports, mobile-based loan origination, automated loan level audits and real estate tax servicing platform.
To learn more visit: https://www.coforge.com/bps/smartprop/ or write us at CoforgeBPS@coforge.com
* For Online Searches Only
