HOUSTON (Feb. 10, 2004) - Stewart Mortgage Information (SMI) has announced a national solution for lenders to order custom-built packages of SMI products and services using the RealEC electronic exchange.
Named "Build Your Own Bundle," the SMI product allows a lender to pick any number or combination of the following services:
- Up-front disclosures and electronic closing documents
- Credit reporting
- Flood zone determinations
- Full appraisal and AVM solutions
- Nationwide title, disbursement and recordation services, including full title insurance products and witness closing options as well as customized title solutions for home equity lenders
- Post closing services including loan review; investor delivery; assignments, lien releases and recordation; trailing document retrieval, FHA/VA insuring and pool certification assistance
"This product allows lenders the flexibility to order a package of services at a discount that increases as more items are purchased,” said Don O'Neill, SMI chief executive officer. "At the same time, it is attractive to lenders because it enables them to retain their existing preferred relationships with other companies or in-house entities who may provide appraisals, document preparation or other services.
"Our aim is to assist lenders in lowering their loan origination costs," said O'Neill. "Bundling services means lenders can provide more accurate cost estimates for themselves and their clients, thus building borrower trust and creating satisfied customers who refer their friends and families."
Bundled services will also be available through Stewart Title affiliated and independent agents, and through the Stewart Region Order Centers. For more information on Stewart's "Build Your Own Bundle," call (888) SMI-4415, e-mail firstname.lastname@example.org or visit http://smi.stewart.com.
Stewart Mortgage Information (http://smi.stewart.com) is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC). Incorporated in 1994, SMI is a leading provider of mortgage information and services that accelerate loan origination and improve the performance of the post-closing function. SMI offers its services to lenders based on the life cycle of the loan process — from origination through post-closing to servicing.
Stewart Information Services Corp. is a technology driven, strategically competitive, global real estate information company. Stewart provides title insurance and related information services through more than 7,200 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records, property ownership mapping, and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at http://www.stewart.com/.