FIRM SELLS TITLE INSURANCE DIRECTLY TO CONSUMERS.
Entitle Insurance Co. is using its digital platform, Entitle Direct, to educate and empower consumers to monitor their home closings and save on their title insurance.
Typically, title insurance companies and their agents work directly with Realtors, attorneys or lenders, who order the title search and title insurance on a customer’s behalf early in the closing process. This insurance is required by most lenders before they will lend money (for either purchases or refinances). Consumers typically pay for the insurance at closing.
Timothy Dwyer, president and chief executive officer of Entitle Direct Group, said “Numerous federal and state regulatory authorities and consumer advocates are vocally critical of the high cost consumers pay for title insurance and a real estate process that keeps consumers in the dark.
"Entitle Direct was created for consumers by consumers to address these concerns. Whether people are purchasing a home for the first time or refinancing a home, they can work with ENTITLE DIRECT to organize the entire closing process and know what to expect at closing,” he said.
Title insurance and other closing costs are listed on the HUD-1 settlement statement that is provided at closing.
Entitle Direct allows consumers to monitor their closing process on a daily basis using the Control Panel, which has a patent pending with the U.S. Patent and Trademark Office. Control Panel provides interactive tools such as the ability to upload and store closing documents, as well as download a HUD-1.
The HUD-1 is updated in real time throughout the closing process, eliminating surprise charges at closing. Consumers can also use the Control Panel to communicate with other parties involved in the closing process and store important messages, in addition to utilizing a checklist, contact list, task list, notes and a calendar
Dwyer said, “Entitle Direct will help home buyers, sellers and refinancers feel confident and knowledgeable about the closing process, freeing them of closing anxiety, and saving them hundreds or thousands of dollars. Entitle Direct offers consumers a choice."
For more information about ENTITLE DIRECT, please visit www.entitledirect.com.