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Top 10 Factors for Title & Settlement Providers

Having worked with or for several title agencies and underwriters in the U.S. residential industry, I have been asked recently what are the top ten factors a lender and/or loan servicer should factor in their evaluation of a supplier in this space?

I'm laying out the top ten factors here:

  • Financial Stability: Lenders and mortgage servicers want to ensure that the title and settlement services company/provider is financially stable and can handle the volume of transactions they require.

  • Regulatory Compliance: The company/provider must be compliant with all applicable laws and regulations, including those related to consumer protection, anti-money laundering, and fair lending.

  • Quality Control: The company/provider must have a quality control system in place to ensure accuracy and consistency in the services they provide.

  • Technology: The company/provider must have the latest technology and workflow systems in place to ensure efficient and secure transactions.

  • Customer Service and Success: Company/provider must have a customer service team that is knowledgeable, responsive, and available to answer questions and address concerns.

  • Security: The company/provider must have a secure system and network in place to protect sensitive data and information.

  • Experience: The company/provider must have a proven track record of successful transactions and demonstrate a client portfolio of satisfied customers.

  • Pricing: The company/provider must offer competitive pricing and flexible payment terms/options.

  • Turnaround Time: The company/provider must be able to provide timely and accurate services in industry leading cycle times.

  • Reputation/Leadership: The company/provider must have a good reputation in the industry and with customers.

In addition to these, I do believe it is very important to dive into how the title/settlement services provider is approaching their own business development and growth strategy.

Why you ask?

In these challenging economic times we find ourselves in (2023), lenders, real estate brokers and mortgage servicers have a greater need to have partners or suppliers help in their own growth.

So here are some other key areas to discuss with your title/settlement provider:

1) Do they have a comprehensive marketing strategy and can they help in this area? Working together with your team, develop a comprehensive marketing strategy that includes both online and offline tactics to reach "buyers" (consumers, agents, partners, etc.). Are they utilizing digital marketing tactics such as SEO and social media to reach potential customers? Additionally, consider traditional marketing tactics such as direct mail, print advertising, and radio/TV spots.

2) Establish relationships: Can they bring these to bear and help in your growth? Hosting events, networking/sponsoring conferences and webinars with key decision makers attending.

3) Technology strength: Ensure they bring and have the capabilities to streamline or automate the ordering process. Additionally, how they leverage CRM to track customer interactions and issue resolution to optimize customer experience and success management.

4) Educate lenders and servicers: On the importance of title insurance and settlement services. Provide resources such as webinars, white papers, and case studies to demonstrate the value of their services. Additionally, free consultations to discuss the benefits of title insurance and settlement services. Big topic here in 23 is related to cyber security and fraud.

5) Develop a customer service strategy: Ensure that lenders/servicers are satisfied with the services provided. Utilize customer feedback to identify areas of improvement and develop strategies to address customer concerns. What kind of special programs and discounts are provided to enhance customer loyalty as well?

Pleased to announce that M. Allen has added Lincoln Abstract and TitleEase as a partner and client, specifically focused on providing leading settlement, title, and title franchise services to the residential/commercial sector.

Contact Matt Slonaker via for additional details on this topic and to run a free consult with your team.

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