Who does the agencys title searches and what is the turnaround time?
It’s important to select a title company that employs its own searchers rather than one that farms searches out to their underwriters. Such a company will have complete control of the search process and the ability to handle special requests of rush files. A good title company should be able to guarantee a turnaround time of no more than five days from order to commitment. And if they have the technology and drive, the commitment should follow the order within 24 to 48 hours from time of order to delivery of binder. A verbal status can usually be given within a few hours prior to delivery of the binder or commitment. 2. What kind of technology does the title company have? For years, the closing industry has asked regulators to reduce the paperwork, but still it seems to be increasing. Technology and good planning can ease some of this burden. Does the prospective title company have an IT department? Does it use e-mail? Many lenders today can deliver closing packages via the internet. T
