An excellent final document service owns the entire process of tracking, imaging, auditing and delivery. Centralizing the tracking, auditing and collection of outstanding documents reduces errors in the process. Offering stringent controls from the beginning, and continuous monitoring, will allow you to quickly identify problems that cost much more downstream if they are not caught. Watch as industry expert Debbie Lastoria from Nationwide Title Clearing explains the downstream benefits of a 3rd party final document tracking service.
Imaging and reviews must be done in accordance with agency guidelines prior to final delivery. An audit of the documents individually for completion and precision must also be conducted.
Aggressive collection efforts enable quick file completion and investor delivery, which mitigates risks associated with incomplete files downstream related to investor buybacks, servicing transfers, payoffs or default-related disposition. You can maintain low costs through effective data tracking on correspondent and/or agent performance, document delivery and error ratios to manage your closing partners appropriately.
Benefits of utilizing a Final Document Tracking Service:
- An excellent final document service owns the entire process including tracking, imaging, auditing and delivery.
- Centralizing the process reduces errors.
- Offering strict controls helps identify problems that can cost much more downstream.
- Imaging and reviewing in accordance with agency guidelines prior to custodian or file vault delivery.
- Conducting an audit of the documents individually for completion and precision is essential.
- Aggressive collection efforts enable rapid file completion and investor delivery.
- Mitigates risks associated with incomplete files in the future.
- Maintains low costs through an effective process.