Title Insurance

Should You Outsource Title Services?

3 MIN
 READ

There are many ways to manage the ups and downs of the market

One option to consider is to create a variable cost structure to your business by outsourcing certain tasks. There are hordes of outsource/BPO firms – all of whom extol their virtues openly. How do you know which ones are good? Most of them talk a good game and tell you what you want to hear. How do you know they aren’t learning title on your dime? How do you know they will deliver? Do they have adequate security policies and procedures in place to protect NPI, including personnel background checks sufficient to comply with US lender standards? What is the best way to manage them? What tasks should you start with?

ProsperitasForward is fortunate in that we really do get to see it all. We know the real-life experiences our clients have had with various vendors, and what an agency can truly expect. We can eliminate the guesswork.

Outsourcing can make a lot of sense if done right.

We typically see our clients identify non consumer facing tasks as ideal for an outsourcing plan. Those tasks include:

  • Order Entry
  • Closing Protection Letter Generation
  • Commitment Typing
  • Payoff Ordering
  • HOA Document Processing
  • Subordination Processing
  • CD Preparation (with title, settlement and recording fees only)
  • Policy Typing
  • Cover Record Processing
  • Post Closing File Audit
Aside the value of enabling a variable cost structure, outsourcing can save you money, improve efficiency, and provide better and faster deliverables so that you can focus on core services. Outsourcing can help level the playing field and give you access to the same economies of scale, efficiency, and expertise that the biggest title companies enjoy.
Done right, it can be a game changer.

– Howard Turk

                                                                                                                                                                                  Source: ProsperitasForward.com

About Attorneys Title Guaranty Fund, Inc.
Founded in 1960, ATGF provides best in class title insurance underwriting and services for more than 60 years. The company's mission is helping agents succeed through trusted products and services, innovative technology and amazing support. The company currently pursues this mission by underwriting, training and supporting agents in Colorado, Utah, Minnesota, North Dakota, Nevada, and Arizona.  ATGF has maintained a strong Financial Stability Rating(r) (FSR) of A, Exceptional, from the independent rating agency, Demotech, Inc.
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