Case Study

Constitution Lending – Funding commercial & residential real estate investors, nationally.

Title Needs

Title searches and loan closings with title insurance. They primarily serve investors. Private lenders have more flexible loan approval criteria than traditional banks.

Problems

They needed…

a. A way to track ordering & progress of title searches & of their loan closings.

b. Access to a national settlement agent to perform these closings…instead of relying on the borrowers’ choice of settlement agents – service levels and experience varied too greatly.

c. A centralized place to auto-receive & store all title documents prior to closing, where they could find anything in a millisecond.

Discovery of TL

We emailed and they replied wanting to see a demo. We showed the owner a demo and then we did another for his closing team.

Growth

They began using TL to manage & fulfill all title searches on properties they purchased. They also asked if we could modify our search-order tracking so they could manage & fulfillment their loan closings, too. (Design a new product, define the stages with them, and find/add a vendor.)

a. We said, of course, defined the 7 stages with them.

b. Tweaked our order tracking so the order’s blue bar would extend further to the right as each of the 7 stages of a closing were completed.

c. We recruited & added the leading national settlement agent into our marketplace to provide TL users with full closings & title insurance and to upload all title docs at each stage.

d. We did this all at no cost to our client, in about 4 weeks.

Results

Now they order, track & manage 100% of their searches & loan closings using Title Leader. They are pleased as punch and TL now offers management & fulfillment of closings to all private lenders.

Why had they been forced to manage title manually?

There has never before been automation of title management & fulfillment for them, or TL’s other user groups. Now, Title Leader unlocks unheard of productivity. Simple automation of a complex and mandatory process. Finally.