Title Curative Services
Liens and other “clouds” on titles can slow or even derail purchases and refinances. They are also common hurdles that delay loan modifications and result in penalties for servicers. By some estimates, 15 to 20% of all loan modifications require title curative work.
Covius has extensive experience and proven processes and technology to detect and cure title issues quickly. For one large national servicer, we have developed a workflow process that delivers a 99% accuracy rate for recordable loan modifications and has reduced the number of issues that have to be passed back to the servicer’s team by 75-85%.
Covius is a single, reliable source for all default title transactions related to loan modifications, deed-in-lieu, short sale, bankruptcy, REO, due diligence and loan surveillance.
Cure Title Issues Quickly
Roughly 15 to 20% of all loan modifications require curative work. This statistic indicates that a large servicer modifying 5,000 loans per month is potentially facing 750 to 1,000 title-related monthly “surprises.”