Title and settlement can be particularly challenging in servicing. The difficulty lies in identifying, accurately assessing and proactively resolving title issues— especially when servicers are dealing with large volumes of assets. Boston National Title (BNT), founded in 2006, offers servicing solutions to help ensure loan portfolios meet investor expectations and are both in compliance with regulatory requirements and within the risk tolerance of the GSEs. The company’s products make it easier for servicers to navigate the title process and eliminate errors.
BNT has developed Default Title Lifecycle Management Services, which works as an end-to-end solution to help clients further streamline the process from loan modification to re-performance.
“We were among the first national-scale title and settlement agents to create a specialized default title workflow, supported by default processing teams and attorney liaisons, to help expedite the title process and reduce title costs throughout the default title lifecycle,” said BNT President Nathan Bossers.
BNT’s servicing solutions workflow is tailored to each client’s process, making it easier to collaborate and reduce costly delays. In addition, BNT cleans up the title on “scratch and dent” loans in MSR portfolios. When servicers discover a loan has incomplete or defective title documentation, the company fixes it right away and issues a replacement title insurance policy to ensure the loan meets investor and GSE requirements.
“Our servicer clients prefer us because the typical, attorney-driven process is overpriced, inefficient and outdated while the big underwriters are inflexible and not customer-centric,” Bossers said. “Our clients really appreciate our adaptability combined with our great service.”
Currently, servicers are handling thousands of transactions nationally, while still having to ensure they deliver high-quality results for their clients. A smooth title and settlement process is critical to close transactions quickly and effectively.
“We’ve proven that not only can we deliver great service like a small regional title agent, but we can do it at high-volume scale while exceeding the aggressive performance SLAs of the biggest originators and servicers in the country — all while meeting the highest grades of bank and GSE security and compliance requirements,” said Sean Cooke, vice president, mid-and mass-market sales at BNT.
Cheri Kluft, President at BNT Title Company of California
Cheri Kluft leads BNT’s highly successful California office, including responsibility for daily production oversight and client management.
Nathan Bossers, President at BNT
Nathan Bossers is responsible for stewarding the company vision, maintaining operational performance standards, and meeting growth and financial goals.
Sean Cooke, Vice President, Mid & Mass Market Sales at BNT
Sean Cooke is a 15-year veteran of the mortgage finance industry with deep experience in solution design and continuous process improvement.