ServiceLink looks forward to working with you through your lender on your upcoming refinance transaction. This page will explain to you ServiceLink’s role in this process and the next steps. Our role is to issue a Lender’s Title Insurance Policy to the lender.
There are many simultaneous processes being conducted to prepare your loan for closing and your loan processor should be able to address other essentials of your transaction. Below are the steps that ServiceLink is going to take in order to issue a Title Insurance Policy:
1. Welcome and let’s get started on your transaction: Your initial contact at ServiceLink will work with a team of experts to ensure a smooth transaction. You will be sent the team’s normal working hours and contact information, should you need to reach out to them.
2. Title Search of your property is performed: ServiceLink performs a title search in public records on your property being refinanced/purchased to check for old liens and any encumbrances. Criteria used for search includes your name and property address.
3. Title Perfection: The ServiceLink team will work to verify any and all past liens that are detected as open and secured against the property are properly addressed so that the lien position of your lender and the ownership rights of the property are not jeopardized. During this phase, the team may reach out to you to better understand the history of the property and/or request documentation to support our findings.
4. Closing the Loan: Once your lender is ready to close, ServiceLink will coordinate with you and Wells Fargo to sign the various loan documents at a time and location that is convenient for you.
5. Recording/Funding the Loan: ServiceLink receives the executed loan documents package back in our offices, performs a quality review of the documents and sends them to your county for recording. Then ServiceLink partners with your lender to disburse funds based on the loan parameters and closing disclosures.
Next Steps: The Title Search for your property is currently in process, then the team will work on perfecting your title. Should we need any additional information from you, we will be sure to reach out to you.