Final Policy Production

Final Policies in the Title Insurance Industry

The economist Hernando De Soto’s book “The Mystery of Capital” notes that the ownership of property with clear title is the single differentiating factor in economic development: advanced, wealthy countries have mechanisms to deed property with clear title; poorer countries often do not. Here is an outline of how the title insurance process works in the United States in regard to final title policies, as well as an explanation of how the new CFPB rules affect this process: The Process: The title insurance policy is normally delivered to the new owner a few weeks after a sale is closed. It...

Final Policies Deadlines: Meeting ALTA’s Best Practices Pillar #5

ALTA’s Best Practices Pillar #5 requires title agencies to complete and submit final policies within 45 days after the close of the transaction. Many title agencies are actively considering options to meet this best practices requirement. In general, once a transaction has closed, the process goes something like this… ·         A title agent receives word that the sale/refi has concluded and is provided copies of the recorded documents (deed, mortgage, etc.). ·         The title agent retrieves the title commitment associated with the transaction and confirms that any and all requirements have been met. ·         The commitment is then updated with...

Final Policies Made Easy – Benefits of working with HDEP

It is easy to outsource your final policies to HDEP and have that work handled for you worry-free. Save staff time, save money, and eliminate the final policy production headache in four easy steps: 1. Sign a mutual non-disclosure agreement.2. Demonstrate current procedures for final policy preparation by screen sharing.3. Set up access to client system for HDEP; run test orders; review and refine.4. Test orders are done; when confirmed to be correct, daily production begins. The other benefits of working with HDEP: ResWare, RamQuest, AIM, Streamline, SoftPro, others – doesn’t matter We stay current with the systems our customers...

Final Policies accumulating? A simple solution.

You have seen it time and time again - you close the deal, file your documents and transfer the deeds.  Now onto new business, though there is a nagging tone of unfinished business. Preparing the final policy and transferring the underwriter fee - it's no more than an hour of your time . . .  but the last transaction just closed and there are others waiting for your attention.  A week goes by. . .  you're on to the next closing, and the ringing in your ear gets louder. By the end of a productive week, that housekeeping hour has...

You run a great group and a wonderful business I don’t think anyone can ask for a better partner. I greatly appreciate how you and your crew not only provide a high quality output but you also notify when something is wrong. There are so many people in the world today that know some thing is wrong but push it through to the next step regardless. You and your people are rare!

I have used the services of HDEP on a number of occasions over the course of many years. On each occasion I have been extremely pleased with the results. I would highly recommend that anyone considering indexing or other services provided by HDEP select them for the project. The service, knowledgeable staff, turn time, quality of product, and pricing cannot be beat. I have compared HDEP to a number of other providers and HDEP wins hands down.

I just wanted to say it has been a pleasure to work with all of you at HDEP. I am so thankful for the support and have gained so much knowledge from each of you. Together we accomplished so much! From learning how to post orders to job control, taking on the newly improved exception report, red flags, commenting PI, properly commenting those prebills, and most importantly who can forget managing all those client delivery preferences! You all have been amazing and such a joy to work with!

HDEP is truly a vendor PARTNER. Since they understand the title business, we can have meaningful conversations regarding my business and its future. They are quick to respond with solutions and suggestions as information sources change and to make proposals that will help to keep us efficient. Over the years, HDEP has become a trusted and indispensable part of my operations.

We benefit monthly from the value HDEP brings to us. We look for processes we can shift to HDEP. We know they will focus on delivering us a quality and timely end product. Using HDEP allows us to focus our staff on new projects, not repetitive tasks.

Thank you so much. It has been such a pleasure to work with you. I have been in this industry for a while now and you have been one of the most organized, detailed and prompt organizations I have worked with. The quality has been excellent as well. I do hope we have the opportunity to work with you all again.

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