Lenders and attorneys benefit from new Pre-Foreclosure Report from Stewart Lender Services
Innovative solution helps determine property title’s condition when borrowers in distress
HOUSTON (Oct. 23, 2007) – Stewart Lender Services Inc. continues focusing on the needs of the foreclosure market and now offers the Pre-Foreclosure Report, an innovative solution designed to help attorneys and lenders determine the current condition of a property title where the borrowers are in financial distress.
Stewart Lender Services is a subsidiary of Stewart Information Services Corp. (NYSE-STC).
The new Pre-Foreclosure Report provides a quick “snapshot” of the subject residential property. The report includes a two-owner search, vesting information, open liens, judgments and pending law suits as well as tax information and myriad of other data.
It is available in all 50 states and has several “add-on” options including additional bankruptcy searches and updates to the title. Pricing for the report is in line with the new Fannie Mae expense guidelines for servicers.
“By bringing this type of report to market at this time, Stewart is meets the needs of the foreclosure market by providing a consistent product nationwide,” said Don O’Neill, chief executive officer, Stewart Lender Services. “Meeting the needs of our customers is one of the Stewart standards within the organization. This product delivers time-critical information to customers.”
About Stewart Lender Services
Stewart Lender Services, Inc. (SLS) (www.stewartlenderservices.com/) is a leading provider of mortgage information and services that accelerate loan origination process and reduce costs associated with post closing and loan servicing functions. SLS’ suite of products and services includes: credit, valuation products, nationwide title and settlement services, flood determinations, electronic mortgage documentation solutions and background checks. Online Documents Inc. a subsidiary of SLS, offers three-day initial disclosure and closing document packages for all 50 states within minutes of a request, and maintains a library of more than 50,000 documents pertaining to virtually all loan type and every major investor in the residential mortgage lending market.
About Stewart Information Services Corporation
Stewart Information Services Corp. is a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 9,500 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com/.