RedVision Launches Loan Modification Services Bundle
June 18, 2013
RedVision, a national provider of title reports and real property research solutions, has created a new loan modification services bundle that coincides with the Obama administration’s announcement to focus on increasing loan modification alternatives for at-risk consumers.
The administration’s original 2009 estimate of over four million potential modifications has resulted in just over one million completed transactions over the three years, falling far short of expected goals.
In response to the new efforts, RedVision has combined its title services to bundle the additional components consisting of a lien priority policy and recording service to offer this streamlined loan modification solution. From due-diligence reporting on the status of title, through the recording of the loan modification documents and facilitating the issuance of lien priority insurance, RedVision’s said its team of specialists acts as a single point of contact each step of the way inclusive of tracking recording and lien priority policy issuance.
RedVision’s client relationship team meets with each client to map out a process that is customized to their specifications.
“Our technology provides the means to tailor workflows and deliverables that facilitate a successful loan modification transaction across multi-state jurisdiction,” RedVision said in a release. “Our team of title specialists and examiners capitalize on their nationwide knowledge and experience to ensure our lenders and loan-servicer clients are meeting investor timelines and requirements on each transaction.” The loan modification services bundle includes:
- Generate and ensure quality control of current-owner title report.
- Review title report and assign eligibility grade customized to lender’s criteria.
- Coordinate electronic recording or direct record via delivery to county recorder’s office.
- Confirm recording and scan copy of recorded document.
- Coordinate lien priority insurance with selected title underwriter.
- Deliver original recorded modification to customer’s document custodian.
- Provide automated customized status and exception reporting.
- Offer a single-point–of-contact customer service team.