Point User Guide
319
Services
The following information is applicable when ordering a hazard insurance quote:
•
You are unable to complete the request if you do not obtain authorization from the
borrower.
After you obtain authorization from the borrower, select the
BORROWER
AUTHORIZATION
check box to proceed with the request.
•
To automatically populate the
Hazard
Insurance
field in the
Loan Application
when the quote is received, select the
Copy monthly prem. amount to this loan
file
check box.
Title and escrow
Title reports are ordered to verify the title status of the property being purchased. Title
experts examine specific public records, collect all matters of record that pertain to the
property’s title, and send a copy to the customer. Ordering title reports ensures that all
parties are aware of any matters that could affect the title. The title company then specifies
the status of the parcel of property.
Title companies also manage the escrow account that is established to hold borrower
funds for the property sale and disburse them when the transaction is complete.
Point stores all the title reports that were requested for a file in the document repository
and displays them in chronological order.
The right portion of the
Title/Escrow Request
dialog box contains multiple tabs that are
used to request title documents, establish title on the property being purchased, and
establish escrow parameters. The following tabs are available:
Title
Use to specify order details for ordering a title report.
Escrow
Use to specify order details for setting up escrow.
Borrowers
Contains information about the primary borrower and up to four additional co-
borrowers.
Order Details
Contains information about the property and mortgage.
Agents
Contains contact information for the Broker, Lender, and Seller.
Payoff
Contains lien payoff information for the subject property.
The
Borrowers
,
Order Details
, and
Agents
tabs retrieve information that was entered in
other screens in the loan file.
Related information
Refer to
Requesting services
, on page 300, for information about how to
request a hazard insurance quote.
