Boston National Title Agency Introduces Loan-Level Home Equity Precision Processing

Advances in digital mortgage technologies allow lenders to ‘right-size’ title, valuation and insurance mix for each loan

CHARLOTTE, N.C.--(BUSINESS WIRE)--Boston National Title Agency (BN), an INCENTER company, today announced a new second mortgage and HELOC solution that helps lenders optimize their home equity processing for speed and cost-efficiency.

The firm’s innovations are empowering lenders to “right-size” second mortgage/HELOC processes—title, valuation, closing and post closing—optimizing both service and profits.

The announcement comes at a time when U.S. homeowners have close to $28 trillion in equity. But unlike conventional mortgages and refinances, the margins on HELOCs are much smaller. Financial success requires careful cost control. BNT is helping lenders accomplish this by tailoring second mortgage and home equity processing on a lender by lender and loan by loan basis, and by using technology to minimize time and effort while ensuring every transaction gets exactly what it needs – no more, no less.

The BN platform, which incorporates a series of different valuation products from sister company Incenter Appraisal Management (IAM) as well as insurance products like flood insurance from Incenter Insurance Solutions, allows lenders to mix and match the right set of title, appraisal and insurance products for each loan type. A Jumbo may get a full title report and a full 1004 appraisal and a traditional wet-signing while a $24,000 HELOC may get an L&V (Legal & Vesting) report, a Drive-by Appraisal using IAM’s RemoteVal^™ remote valuation platform and an IPEN signing.

“Our platform addresses the real obstacle to speed and efficiency with these loans: there’s a lot of variety in them from one lender to the next and one loan to the next. Second mortgages need to be processed more like a traditional mortgage. Lender A’s second mortgages need a different level of title report than Lender B’s. Private wealth Jumbos need a different level of services than regular HELOCs,” said Nathan Bossers, President, BN.

“Instead of building a processing solution that treats every loan the same way, we built one that flexes with every transaction. It’s the only way to deliver on the speed and efficiency promise for all home equity products—not just the easy ones,” he added.

BN’s teams are providing these services using a variety of solutions—such as BN’s Dekko™ instant title decisioning engine, a 50-state full digital signing process, RemoteVal™ remote/desktop appraisals, and business process outsourcing bundled with title and various closing solutions.

More information is available at bostonnationaltitle.com and [e-mail]

About Boston National Title

Boston National Title Agency is one of the nation’s leading title insurance and settlement services providers. Founded in 2006 and based in Charlotte, North Carolina, BNT provides a comprehensive suite of commercial and residential title and settlement services through direct sales and its wholly-owned, full-service subsidiaries in New York, California, Texas, and Colorado. For more details, visit bostonnationaltitle.com/.