Mortgage

Nexgen Mortgage Solutions launches secure, TRID-ready title solution

Latitude allows lenders to work securely with title agents

Nexgen Mortgage Solutions, a wholly owned subsidiary of Linear Title & Closing, is now offering a new end-to-end solution that allows mid-tier lenders to work with their title agents directly from within their loan origination system.

The new offering, Latitude Loan Services, allows a lender to quote its title agents, send orders, send and receive documents & notes, schedule closings and compare title fees with its’ title agents, which ensures that all communication is handled directly from the LOS.

According to a release from Nexgen, the new program enables lenders gain efficiencies by creating repeatable and predictable workflow.

Nexgen also said that Latitude will help to increase the level of security and protection of private data by eliminating the transmission of personal information by unsecure means, such as e-mail.

Latitude also address new TILA-RESPA Integrated Disclosure guidelines by pushing all title fees directly into the New Disclosure form, and allowing an agent to go into Latitude to make fee changes to the New Disclosure when necessary and with the permission of the lender.  

TitleHound, another product owned and developed by Nexgen, manages the fee-quoting engine. This product increases accuracy by eliminating the need for third party software and decreasing the time it takes to onboard new lenders and agents.

Latitude has also built a consumer portal, which manages communication with the borrower and can be used to securely deliver the new disclosure. The consumer portal stores mortgage and title documents for the consumer for up to three years. 

“Automation is critical for successful transactions in the new TRID environment”, said Cheri Shine, executive vice president of Nexgen Mortgage Solutions.

“We are excited to launch a solution that brings lenders and agents together to better serve their borrowers and to ensure they have accurate information regarding title fees and premiums for the new disclosures and to provide a platform for XML workflow,” Shine concluded.

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