At the 2018 National Settlement Services Summit (NS3) in Detroit, panelists addressed how title agents, the keepers of critical data “gold,” can best leverage it to acquire market share and business. The title agent is at the center of the closing transaction and captures critical data elements that lenders need to meet for compliance.
DocMagic eServices Director Tim Anderson and Pepper Hamilton, LLP, Special Counsel John Levonick told the audience that despite two years of TRID and now with the new FHFA Uniform Closing Dataset (UCD) requirement, most processes are still very manual so they keep asking the regulatory agencies and GSEs to water down and delay the requirements.
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