Second lien loans just got easier across Wholesale and Correspondent Plus. Eligible loans up to $250K can now close with no title and no appraisal – reducing costs and speeding up closings for your borrowers.
No Title Needed
The Title Search option is now available – meaning eligible second lien loans no longer require a full title policy. Instead, Title Search makes partner workflows more efficient in three simple steps:
- Partner submits a second loan that meets the eligibility criteria – loan amount is not higher than $250,000. Wholesale and Correspondent Plus channels are available
- Underwriter applies Title Search instead of a full title policy
- Loan closes without a title company, reducing cost and time
Note that Title Search is available for second mortgages on properties where vesting (ownership) has remained unchanged. Otherwise, the full title process applies.
No Appraisal Required
Even more benefits for Second Liens up to $250K:
- Close with less documentation: No appraisal required, only two Automated Valuation Model (AVM) reviews with a 90% confidence level and a Property Condition report.
When Speed Matters
Enhance the process with no title and no appraisal:
- Move second lien loans faster from submission to closing
- Cut costs and save up to $2,000 on settlement fees and other expenses
As a result, we offer your clients lower closing costs and faster closings – delivering a better customer experience.
Choose AD Mortgage to close Second Lien loans fast:
Additional restrictions may apply.
