Post Closing with Lien Release Activity

Client Need

A large mortgage servicer was looking to reduce the manual research associated with lien release transactions and streamline the associated inquiry fulfillment process, which was outsourced to multiple document retrieval vendors. The new process also needed to meet state-mandated turn-time service levels.

Solution

After evaluating and testing our data and document repository and proprietary cascading workflow process, the lender chose to consolidate its mortgage research and lien release process with First American CoreLogic. First American CoreLogic's Internet-based document retrieval service allows them to view and retrieve documents and mortgage information 24/7 and monitor its release pending dates - 30/60/90 depending on state.

Results

The lender has increased its research hit rate and accelerated its mortgage and title document recovery, which not only expedites the end-to-end lien release process, but also satisfies post-closing requirements to streamline its overall mortgage servicing process flow. This automated process has enabled the lender to reduce its overhead expense associated with research, and avoid costly state fines associated with processing time.