Entrust Solutions Now Offers Centralized Disbursing as Standalone Service
July 11, 2013
Entrust Solutions, a title insurance servicing company, announced it is now offering centralized disbursing as a standalone service.
“We are about to see a dramatic shift in the ways the settlement industry has been conducting business,” said Jonathan Yasko, founder and managing member of Entrust Solutions. “This service will be offered to agents, attorneys and underwriters in the pursuit to reduce defalcation risk and offer a broad, multi-state platform to lenders with localized service. Compliance for many attorneys and agents will be difficult regarding the new upcoming regulations and unfortunately again will put the squeeze on the small guy. According to Entrust Solutions, its Nexus Program allows small to midsize agents and attorneys the ability to close real estate transactions and issue title insurance policies with limited risk. Centralized disbursing has been part of this program.
“Since we have been using this feature already in the Nexus Program from the beginning, we will now offer centralized disbursing as a stand-alone service,” Yasko said.
Currently, centralized disbursing will be offered in Tennessee, Mississippi, Alabama, Georgia and Florida. More states will be added as Entrust ensures compliance with state laws. Entrust plans to add Louisiana and Virginia to their list of states before the end of the third quarter. Entrust is approved with Security Title of Baltimore, Old Republic, First American and WFG National Title.
ALTA’s “Title Insurance and Settlement Company Best Practices” provides guidelines on appropriate written procedures and controls for escrow trust accounts.