Benefits of iTitleTransfer’s Fully Insured E2E AOL-Based Loan Closing Platform

iTitleTransfer provides the nation’s first end-to-end (E2E) “Fully Insured Loan Closing Platform”, serving as a low-cost outsource for mortgage lenders, homebuilders and cash buyers; participating with Realtors, title insurance agents and real estate lawyers.

iTitleTransfer’s proprietary Platform provides a safe, reliable alternative to title insurance, reducing borrower loan-closing costs 65%, and mortgage lender’s internal costs 50%. iTitleTransfer serves Purchase, Re-Fi, Assumable, Reverse and HELOC loan closings.

Our Fully Insured Loan Closing Platform protects lenders, owners and successors-of-interest for the loan amount and life-of-loan, for one low flat fee, which is approximately one third of the cost of traditional title insurance, endorsements, escrow services, add-ons, set-ups, and service fees. Each component of the loan closing platform is independently insured; in addition to iTitleTransfer’s coverage for fraud, forgery, duty-to-defend, lien priority, gap, CPL, cyber; and excess/umbrella insurance providing an additional layer of insurance related to each loan transaction. The Fully Insured Loan Closing Platform includes:

Insured Search and Examination
Insured Proprietary Risk Scoring
Insured Curative Services
Insured GSE-Compliant Insured Attorney Opinion Letter
Insured Escrow, Date Down and Document Preparation
Insured eNotary and eSign
Insured Transfer and eRecording
Insured Post-Closing Deed Monitoring

Authorized by FHFA’s Government Sponsored Enterprises (GSEs), Fannie Mae, and Freddie Mac; the GSEs accept Attorney Opinion Letters (AOLs) issued by licensed real estate lawyers, in lieu of title insurance, pursuant to their Lender Selling Guides, and consistent with recently enacted Equitable Housing Finance Programs. These programs are designed to reduce borrower closing costs, particularly for minority and first-time home buyers. Lenders have experienced zero “buy-backs” of mortgage loans in which AOLs were utilized.

iTitleTransfer’s Transformative E2E Loan-Closing Platform

Our Story

Development of iTitleTransfer’s Loan Closing Platform started in 2021, as a “FinTech” concept developed by experienced senior real estate title insurance experts, seeking to provide consumer choice in settlement services, and to lower borrower closing costs; while at the same time providing lenders and Realtors a diversification strategy to incrementally increase transaction volume, revenue, and market share.

Astute title insurance agencies were also recognized as beneficiaries in broadening their marketing strategies by offering their customers a choice, in a manner “complementary” to their core title insurance sales campaigns.

In April 2022 Fannie Mae, following the lead of Freddie Mac (Government Sponsored Enterprises-GSEs), the nation’s purchasers of 85% of home loan mortgages, announced in their “Seller-Bank Guides” that Attorney Opinion Letters (AOLs) were authorized as an alternative to costly and often unnecessary title insurance.

Collectively, the two GSEs set national guidelines for their aggregated annual purchase of $2.7 Trillion in mortgage loans from 3,000 Seller-Bank loan originators. The GSEs have indeed “voted in favor” of AOLs, by accepting their use in their purchase of lender-originated loans.

Our Mission

iTitleTransfer believes that excessive and unnecessary mortgage loan closing and transfer costs are barriers for many to participate in the dream of home ownership. Our mission provides safe, reliable, and low-cost closing and transfer services in a manner respectful of diversity, equitability, and inclusion

Our Culture

iTitleTransfer is committed to providing lenders, borrowers, successors-of-interest, Realtors, and real estate attorneys with the highest-level of personalized service and responsiveness in closing and transfer services in a safe, reliable, timely and low-cost manner.

Our employees are highly skilled in balancing human touch and digital automation tools. Our culture is based on pride, and the highest level of personalized client service and responsiveness; designed to close and transfer assets on time and on budget.

Enhances

iTitleTransfer enhances lender, borrower and successors-of-interest and Realtor transaction volume and revenue by utilizing the GSEs authorization for the use of Attorney Opinion Letters (AOLs) as an alternative to costly and unnecessary title insurance. iTitleTransfer’s closing and transfer services saves time and money in a GSE compliant manner

Protects

iTitleTransfer’s proprietary Loan Closing Platform protects lenders, borrowers and successors-of-interest by insuring loan amount and life-of-loan coverage for one low flat fee, which is approximately one third of the cost of traditional title insurance, endorsements, escrow services, add-ons, set-ups, and service fees.

Our fully insured Platform covers fraud, forgery, duty-to-defend, gap, CPL, and cyber; and is enhanced by Excess/Umbrella insurance providing an additional layer of insurance related to each loan transaction.

The use of Warranty Deed provides further protection to the lender’s lien priority by the seller warranting that the subject real property is free and clear from unrecorded liens and encumbrances.

Our Team

Theodore Sprink

Managing Director

Ted led Fortune 500 title insurance conglomerates in product development; creating, rolling out and managing innovative, highly regulated, national, estate title insurance programs, generating $495 Billion in capital market transactions. Expertise includes Product Development, Business Plans, Program Launches, Marketing Strategies, Branding, Sales Initiatives, Strategic Alliances and Technology Applications.

Kellie Mowdy

Operations Manager

Kellie is a professional Senior Project Manager with significant experience in global markets providing financial modeling, process development, and Information technology management across a variety of industries with particular expertise in Infrastructure and Datacenter migrations. Principle employers include Electronic Data Systems, Hewlett Packard and DXC Technology; and their key clients, since 1989. Kellie is also a real estate investor and real property asset manager.