Business Services facilitates a full range of mortgage services, title support services,default services, claims servicing and claims preventions for several internal groups including FAMS, NNC, First Canadian Title, First Mortgage Services, Enact and National Intake Center. The division also supports a wide range of title and escrow related functions for our parent organization’s largest division - Production Services.
Our expert advice enables stakeholders including real-estate professionals, loan originators and services and commercial property professionals to make well-informed decisions. We also offer advice to clients on possible claims and instill control measures to prevent claims with our Special Investigations Unit. The division offers:
Supports lenders, attorneys, banks & financial institutions in default/foreclosure procedures. Services include ordering a title product to analyze and grade it, issuing a foreclosure policy etc. It also conducts post-close audits, where we determine if the files meet investor/client requirements to ensure the loan is insured against fraud and can be sold. The team specializes in reviewing tile commitments to provide closure to lenders and audits for pre and post-closing packages.
Responsible for investigating circumstances involving high risks in a Title/Mortgage transaction and establish channel to improve quality of the product & processes and mitigate the risk associated to prevent the company from paying out huge sum to claims. Its key projects include Supplementary Review, Recording Confirmation, SWAT, and UWL.
Supports lender programs in Canada and the UK against Title risks. It also completes the mortgage funding process on behalf of the lenders. First Title UK creates commercial assumptive/continued use risks analysis for underwriters. The ResCon team based in Sevenoaks underwrites all risks for residential properties. For Australia, it indexes loan documents and reviews trust deeds in collaboration with legal representatives. Title Search Support Services provides auxiliary services for Title Search teams to facilitate assembling of property reports. Research & remediation is conducted by the Strategic Operations Group to ensure compliance with the rules and regulations promulgated by OFAC (Office of Foreign Assets Control) is a federal requirement and applies to all individuals and businesses; our team at BLR searches file party names for a potential match against the OFAC sanctions list.