Start summer strong and make refinancing more accessible for your clients with no title commitment fees. Now, eligible borrowers may save time and money on eligible refinances through the new Title Acceptance feature. Read on to learn more and check whether your clients qualify.
What is Title Acceptance?
Title Acceptance is a waiver of certain title-related requirements on eligible refinance loans. All Partners, including LOs and Correspondents, can take advantage of it, when it is offered in the DU Findings.
If you choose to use it, AD Mortgage will place the Title Acceptance order with our selected vendor. You can work directly with the vendor to schedule the closing and coordinate the details.
Who is Eligible for Title Acceptance?
To use this benefit, the borrower must meet the following conditions:
- Refinancing: Owner-occupied rate-and-term or cash-out refinance transactions with LTV of 80% or below
- Business Channels: Wholesale, Correspondent, Correspondent Plus
- States: Arizona, California, Colorado, District of Columbia, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia
If Title Acceptance is offered in the DU Findings, AD Mortgage will place the order with our selected settlement provider. All partners, including correspondents, must use AD Mortgage’s selected settlement provider to take advantage of Title Acceptance. Please see your sales representative for details.
How to Benefit from Title Acceptance?
Help your clients save money and speed up refinance closings for borrowers who qualify based on DU Findings. To utilize this opportunity, submit a Scenario Request.
