Title Curative Services
“Clean” title is imperative for the swift disposal of REO assets. Immediately upon receipt of an order, LPS Default Title begins curative work to achieve ‘insurable’ title so that after an asset has foreclosed, the property is ready to market and sell as quickly as possible.
All REO title work is reviewed and graded for title curative issues and posted to LPSdefault.com for immediate client access. Curative resolution starts immediately using “business-decision”-based underwriting and risk analysis. LPS Default Title works with our national underwriting attorneys and local title offices to resolve issues that could delay closing.
Title curative procedures include, but are not limited to:
- Retrieving HUD-1 and mortgagee’s title policies
- Contacting prior closing agents to obtain information about any issues
- Consulting with foreclosure attorneys to determine the best course of action
- File review to determine insurability
- Monitoring title claims as needed
- Contacting prior lienholders to confirm lien status and secure releases
Reporting options include:
- Order Status
- Curative Turn-Around
- Curative Activity
- Curative Summary
Curative activity is logged into LPSdefault.com, and is accessible for client viewing, including detailed progress notes, estimated title clearance date and contact information for the manager and title curator assigned to the file.
Closing Management Services
LPS Default Title offers centralized closing management services from the time an asset is under contract through fund dispersal. Robust technology with real time communication between LPS Default Title and closing agents facilitates the process and gives all parties access to instant status and reporting, while enabling agents to immediately identify and process exceptions. Our closing specialists are state experts and manage deed preparation, HUD-1 reviews, and delivery of wire proceeds and seller funds within 24 hours of closing.
For more information on how to streamline your default title process call 800.323.0165 today!