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SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Stewart Offers Short Sale and Deed-in-Lieu Services to Mortgage Servicers

February 23, 2010

Stewart Lender Services (SLS), a wholly owned subsidiary of Stewart Title Company, announced a solution to help mortgage servicers meet the requirements of the Home Affordable Foreclosure Alternatives (HAFA) program. HAFA provides additional options and incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu to avoid costly foreclosures.

"SLS is an industry leader – offering mortgage servicers an effective alternative to costly in-house processing," said Jason Nadeau, SLS president and chief executive officer. "Our Home Retention Services group has now developed a solution for mortgage servicers seeking an efficient means for complying with HAFA requirements. Using an experienced and proven FDCPA-compliant Borrower Contact Center and fully integrated workflows, we can handle properties throughout the distressed asset continuum – loan modification, short sale, deed-in-lieu, foreclosure, asset management and disposition – improving communication among all parties and accelerating transaction completion."

Borrowers can be transitioned from the failed loan modification to a short sale option, and further on to a deed-in-lieu of foreclosure in the event the short sale is unsuccessful.

To compress the time for completing a short sale, or implementing a deed-in-lieu, SLS title and settlement teams work to identify any potential title issues and necessary third-party payoffs to immediately begin curative title work. This assists in investor and mortgage insurance negotiations and ensures that hurdles in the transaction are cleared prior to the receipt of an offer to purchase the property or transfer of deed.

Deed-in-lieu transactions are often complex and ultimately require the experience of a title underwriter to complete. SLS has the experience and vested interest to ensure each transaction is conducted properly. Stewart combines a proven loss-mitigation organization with more than 100 years experience in complex title curative services to provide a seamless solution.

Stewart said its combined short sale/deed-in-lieu process and proactive title review offers a single-source foreclosure alternative solution that allows for a smooth transfer from short sale to deed-in-lieu eliminating any delays in the marketing of the property after transfer to the lender.

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American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
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