Orion Launches Settlement Services for Investors
The Orion Financial Group Inc. has partnered with Lenders Title Solutions to introduce a one-stop platform that streamlines settlement services for small- to medium-size investors.
The new tool helps investors who need to coordinate investment property sale transactions, including the sale of real estate owned properties.
Investors can use the platform to process title commitments alone, or to combine it with other title settlement related services, says the firm’s president and CEO, Mike Wileman.
Lenders Title Solutions will provide access to a national database of title and closing providers.
The collaboration helped lower service costs, Wileman explained. Investors often need to do a title search before they obtain a title policy, which requires working with different companies at different times, he added. Hence, a one-stop platform helps make the search time efficient.
The goal was to offer “a more in-depth” mortgage loan data search that is not limited to information about the current property owner and can be immediately converted into a title policy, Wileman explained, if investors need the information to sell their assets.
Investor services include obtaining a title policy, the signed real estate contract, closing instructions, and other required documentation.
Orion plans to introduce several other new solutions in 2013.
The Southlake, Texas-based company has been providing mortgage assignment, lien release and document retrieval services for mortgage lenders, servicers and credit unions for 20 years, but it has been in growth mode following the peak of the foreclosure crisis in 2008. Since, the number of transactions performed increased 170% and operations expanded to approximately 600 counties in over 30 states.