Title Insurance protects lenders or borrowers against losses arising from problems or defects with the ownership or legal title of a property. We at Garden Title understand the criticality and the complexities involved in Title Insurance. Garden Title prepares title insurance and related information services required for settlement by the real estate and mortgage industries in the United States and international markets.
Our Title and Settlement services suite would mean a reduction of your turnaround time and paperwork, which would spin you into greater and faster business.
• Title Search
• Owner & Encumbrance Reports
• Legal & Vesting Report
• Full Title Examination
• Title Commitment Preparation
• Preliminary Title Report
• Final Policy Production
• HUD Statement Preparation
• Property Tax Services
• Closing Package Review
• Broker Price Opinions
One of the key areas where Garden Title works on is the creation and management of a Chain of Title for its clients. This clearly is the primary element in the Closing Process. We provide Current Owner, 2 Owner, Datedowns, HELOC (Legal and Vesting) searches nationwide. The resulting cost effectiveness and process efficiency for our clients ultimately will result in improved profitability, faster turnaround time and higher accuracy.
The search includes all names in the chain of title and reports liens and judgments for all owners, current and past. The names are run for general liens, such as judgments and federal tax liens, for the full statutory period applicable for the state. In addition, all defects, liens, and encumbrances specifically referred to in the documents revealed in the search are reported as exceptions, unless properly disposed of. All easements, covenants, conditions, and restrictions (CC&Rs) or related documents such as amendments, annexations, or restated CC&Rs posted to the subject property are reported.
A search that goes back to the Full Value Deed (FVD) and each deed in the chain that was recorded since the FVD must be reviewed to verify that the title passes to the current owner of record. The names of the grantees in the Deed and all subsequent title holders are run for general liens, such as judgments and federal tax liens for the full statutory period applicable for that state. In addition, all defects, liens, and encumbrances specifically referred to in the documents revealed in the search are reported as exceptions.
A search that goes back to the two FVD and each deed in the chain that was recorded since the FVD are reviewed to verify that the title passes to the current owner and two owner of record. The names of the grantees in the FVD’s (current owner & two owner) and all subsequent title holders are run for general liens, such as judgments and federal tax liens for the full statutory period applicable for that state. In addition, all defects, liens, and encumbrances specifically referred to in the documents revealed in the search are reported as exceptions, unless properly disposed of.
An additional title search to make sure nothing adverse has been recorded in the real estate records since the time of the original search and the recording of the deed or mortgage. The taxes are updated with present tax findings.
This report provides the basic information on a particular piece of property. It typically reports the owner(s) in title and any encumbrances including mortgages, lines of credit, and liens.
Using a property address or tax parcel number, this report provides a legal description and owner(s) of record including the vesting.
Using your underwriting rules and standards, an order will be examined and include full review of the document images. An examined order will be ready for commitment or prelim preparation.
Garden Title can prepare commitments overnight to have them ready before next day. We have the ability to produce commitments for clients using Title Express, Softpro, Landtech, Gators, Genesis, etc. This includes typing the vesting, conveyance, mortgage, judgments/liens and taxes information into the software as per the Abstract report and proofing for any mistakes to correct them.
Garden Title reviews and validates title chain documents such as Deeds, Subordination, Notices, Assignments, etc. We also validate name search documents such as Abstract Judgments and State Tax Liens, and make corrections as required. Any exceptions are reported to the client. The various documents which are retrieved and analyzed are as follows: Tax sheet, Property index, General index, Deeds, Deed of trusts, Mortgages, Assignment of deed of trust, Subordination agreement, Substitution of trustee, POA, Reconveyance, Mechanics lien, Tax lien, Judgments and others.
The Final Title Policy is a key component in a mortgage transaction. It provides security to the lender and owners and allows for the fulfillment of a real estate transaction. Policy production process generates Short Form, Long Form and Owner Policies in the client application. Information is extracted from the Policy Package (Title Prelim Report) and entered in the client application. Editing is done to the policy adding exceptions and endorsements as given in the Policy Package/Prelim report.
We prepare HUD settlement statement based upon lender's closing instructions and the requirements of the title insurance commitment. We will provide the preliminary HUD settlement statement to the lender and/or investor for approval prior to the physical signing, if necessary. We use the closing instructions provided by the lender to the Title Company to complete the statement overnight.
We are a provider of tax services to many title agents, vendor management companies and top title underwriters. Current/ Delinquent Tax Information - Calling to verify current and delinquent tax information on a property. We also verify tax sale and bankruptcy information. Tax Search Report - Determine the current status of real estate taxes against a property. Report includes: • Parcel Identification Number • Tax year • Tax Period (annually or installments) • Tax ID# • Date Paid and the Amount • Delinquent taxes • Assessed Value • Homestead Exemption • Building and Land value
Garden Title provides Title companies the facility of outsourcing the Tax Certification process. We have a full time staff dedicated for tax information collection by calling the treasurer’s office nationwide. The reviewed tax details are delivered in the client specified output format. This process ensures that accurate information is delivered to the client on time.
At Garden Title we review the real estate appraisal report, especially for the special comments of the appraiser to make sure that appropriate comparable have been used. The compliant orders are forwarded for further processing and the non-compliant / rejected orders are reported back to the client with standard rejection verbiage for each field checked.
Standard Quality Review Checklist is reviewed upon receipt of the executed loan package from the closing vendor including the task of altering the package according to the special requirements added by the lender and/or investor. We review closing packages to check for accuracy - Lender-by-Lender Incoming documentation to ensure the loan package meets legal, credit administration, treasury and audit requirements.