Default title and close services to support every stage in an asset’s lifecycle
A sound default title and close strategy is essential for mitigating loss, optimizing efficiency and supporting borrowers. You need a default servicing partner that can deliver solutions across the entire default lifecycle — from delinquency through disposition. ServiceLink has invested in default innovation so that we can provide servicers and investors with the expertise, technology, scalability and national scope they need to meet every default challenge head-on.
Loss mitigation and pre-foreclosure services support your goals
Helping borrowers avoid foreclosure is in everyone’s best interest. ServiceLink can help you do what’s right on behalf your customers while mitigating loss through prudent, well-informed business decisions.
Loan modification services
When delinquency occurs, we work to find a solution to help keep your borrowers in their home. The ServiceLink default services team communicates the opportunity to take advantage of a reduced interest rate, longer repayment terms, reduced principal or other loan modification options clearly and respectfully.
ServiceLink offers a variety of insurance services, depending on the internal or GSE requirements of any given transaction: Mortgage Modification Guarantee (MMG), endorsement on a previously issued policy, stacked policy, new ALTA loan policy or ALTA Residential Limited Coverage Mortgage Modification Policy (MMP).
Title property report and title grading
Understanding a property’s lien position and resolving any title issues is critical during the loan modification process. ServiceLink conducts a title examination and promptly produces a property report, including a title grade. Our title curative team then works to resolve any issues and secure the title commitment.
Document generation, signing and recording services
Once a loan modification has been approved, ServiceLink generates the necessary documents and offers both in-person signing and eSigning options. Then we send the signed, notarized documents to the applicable recording jurisdiction.
Deed-in-lieu of foreclosure
Where loan modification measures aren’t enough to get a borrower back in good standing, ServiceLink offers deed-in-lieu services. A deed-in-lieu of foreclosure (DIL) provides an exit strategy that protects credit history and relieves the obligation of repaying the mortgage loan balance, while helping you avoid the expense and delays related to foreclosure. ServiceLink handles everything from the initial title work — title grading and clearance — through document generation, signing, recording and insurance services.
ServiceLink performs full title searches and issues trustees’ sale and litigation guarantees, preliminary and final judicial reports, and foreclosure certificates. Detailed title grading and dashboard reporting let you know where things stand at any given moment.
Combine post sale title and CWCOT for a dual path strategy
The post sale HUD/VA title conveyance process can often be fragmented, resulting in delays. Our team members work quickly to resolve any outstanding title issues — identifying and working with HOAs, for example, to negotiate fees and coordinate payment of liens, utilities, code violations and more. We manage and track deed recording and manage HUD policy requirements.
ServiceLink’s nationwide centralized title and closing platform enables prompt title commitment and policy issuance, as well as fast, thorough curative services. We also offer speed and convenience at closing, providing eClosing and eSign capabilities (including RON) to support remote, hybrid and in-person closings.
REO title and close services support healthy margins
Title issues can delay or prevent an REO closing, resulting in lost opportunity, added carrying costs, higher UPB, additional asset or reputational risk and possibly a reduced margin. ServiceLink offers REO title, close and curative services to clear outstanding issues quickly, before a property is placed under contract. Our default title and close services team also works with HOAs and municipal code authorities nationwide to negotiate unpaid fees and resolve violations.
FHA title solutions ease disposition challenges
ServiceLink’s end-to-end FHA title solution saves time and cuts costs by recycling title from foreclosure through sale or conveyance. It’s part of a comprehensive FHA strategy that brings title, auction services, valuations and property preservation together under one centralized management platform. ServiceLink can provide a more unified and transparent process, agility and scalability, fewer (or zero) delays, strict quality control, compliance expertise and technology that creates a better experience for you and your customers.
Technology solutions optimize default title and close processes
ServiceLink’s centralized platform has transformed and digitized the default title and close processes to reduce timelines and costs. Among our solutions are mobile scheduling, eClosing and remote online notarization (RON) capabilities, plus EXOS One Marketplace® technology that enables a variety of asset management activities and a single view of your entire default portfolio.
ServiceLink’s secure platform enables the delivery and signing of all required closing documents in all 50 states. We can accommodate requests for RON, RIN, hybrid, IPEN and LPOA closings. Sending documents electronically before closing offers time for more thorough review (and discussion, if necessary), and real-time transparency into an asset’s closing pipeline enables you to confirm signing and fund disbursement. Real-time recording updates notify you when an asset is off your books.
Remote online notarization (RON)
eClosings that incorporate RON can make default closing and post-closing processes cleaner and quicker. ServiceLink’s panel of eNotaries manage signings efficiently and then send certified documents securely to our central audit team for review prior to recording. We also navigate the varying format requirements of counties to ensure we are filing all documents accurately.
EXOS One Marketplace
Managing assets in your default portfolio can be easier with EXOS One Marketplace— ServiceLink’s default asset decisioning technology, which blends artificial intelligence, machine learning, personalized performance dashboards and workflow management to help you manage timelines and project costs, leverage data and analytics and use predictive modeling to compare and adjust disposition paths as market conditions evolve. The EXOS One Marketplace platform includes a comprehensive suite of services for the entire default life cycle: loss modeling, property preservation, valuations, foreclosure title, auction CWCOT and post sale title.