For private lenders, getting loans closed faster, while spending fewer hours of admin work per closing, is a critical 1-2 punch that is needed. Whether you fund 10 or 1,000 loans a year, there is one overlooked bottleneck that drains your team’s productivity and delays closings: managing title work & closings. The good news? There’s a solution that simplifies this antiquated, manual, time-wasting process, saving you hours each week and preventing costly closing delays.
The Hidden Problem in Title & Closing Workflows
Title & closing management is a silent productivity killer. It’s a repetitive, manual process that no one talks about because, until now, there’s been no way to automate it. Your team is forced to grit their teeth through endless administrative tasks, from ordering and tracking title & closings to receiving title docs and keeping the settlement agent on track for closing & funding. These tasks pile up, creating errors and delays that frustrate your team and your borrowers.
Here’s a breakdown of the challenges:
- Organization – Order, Track, Receive, Name, Store, Share, and Find Title Work:
- Placing title orders, checking delivery status, and receiving commitments & title docs requires countless emails.
- Tracking title docs & closing-status requires hand-written notes in hardcopy files, or data entry into shared spreadsheets, which causes error, omission and backlogs – These sheets are rarely accurate, meaning closings continue to creep up before all work is done, or you’ve not gotten the settlement agent on the ball in time to make the closing happen on time – That means new closing instructions and pain.
- Naming/Saving/Sharing title docs requires strict naming conventions and specific shared drives, and sending emails – but that means files get lost and inevitably, get stored in each of your team members’ work silos: inboxes and workstations – now they’re impossible to find when you need them.
- Finding title docs means hunting. Scrolling thru inboxes and e-files, asking co-workers, sending emails & making phone calls to multiple settlement agents.
- Track closings – Countless emails getting status, to find out if on track. What is needed and at what stage is the settlement agent’s preparation?
- Work Silos: When a processor is out—whether for lunch, illness, PTO, or no longer with the company—their work grinds to a halt because it’s in their inaccessible work silo – desktop & inbox.
- That makes finding files or determining the status of closings and title commitments a frustrating forensic audit of the absent employee’s desktop & inbox – which is impossible for remote employees’ silos.
- Shared spreadsheets for doc & closing tracking and shared drives for title docs? They rely on human memory, strict naming conventions, and error-prone data entry, leading to omissions and backlogs. Inevitably, you will end up with 2 additional doc storage locations for every processor: The intended shared drive, each employee’s desktop and each employee’s inbox.
These inefficiencies waste hours every week, increase your overhead, and delay closings, affecting borrower satisfaction. Worst of all, they force your team to waste time on mundane manual tasks instead of getting loans closed faster and risking employee burnout and turnover.
The Solution: Automate Title & Closing Management with Title Leader
using the leading national settlement agent.
Title Leader (TL) revolutionizes how private lenders manage title work. TL eliminates manual, repetitive tasks, centralizes all title information, and provides a faster, smarter, headache-free way to move loan closings forward. Here’s how it transforms your admin team:
- Streamlines the Title Process: A few clicks replace hours of manual work every week.
- Doc tracking, receipt, naming, storing, sharing: Know.
- Closing tracking: Know status (of all 8 steps) across all closings in all states, in one spot.
- Centralized Workflow: Gets you out of work silos and into shared data, organized in one intuitive dashboard. Everyone can see/access any closing’s title work to keep it on track.
- Standardized Workflow for all team members, using best practices.
- Continuity of Workflow: Anyone can see & continue the title & closing work of any other, with a click, regardless of who’s absent. No ball ever gets dropped again. Managers are no longer held hostage by work silos, and more loans close on time with fewer hours of admin work that you pay for.
- Get more done with less time.
- Pricing – Title Leader has zero subscription fees, license fees or user limits. A technology fee is shown on the settlement statement. It’s competitive at only $250 and paid by the borrower, not our private lender users.
With no subscription fees, license fees, or user limits, Title Leader offers a cost-effective solution that saves your team hours of administrative work. Book a demo today to see how Title Leader can simplify your workflow.
