Value Added Services
Title Search / Abstracting
Tricom plans to increase its Value Added Service offerings in the Title Industry. One of the key areas where Tricom is emphasizing on is the creation and management of a Chain of Title for its clients in the United States. 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. We also carry E&O insurance.
Commitment / Abstract Typing
Tricom prepares commitments overnight to have them ready before next day 0800 the next day. We have the ability to produce commitments for clients using Ramquest, Title Express, Softpro, Gators, Genesis, etc. Tricom currently produces 2,000 commitments per month and plans are underway to increase it further.
Tax Certification
Tricom 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 accuracy of the data is validated through a call recording system where independent auditors review each call to ensure that the amounts are captured correctly. 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.
Loan Payoff
Tricom also provides solution for the end of month hassle of ordering payoffs. We have developed a database of all the lenders throughout the United States. This list is updated regularly with the contact information to reduce the actual processing time. Tricom currently handles 1000 payoffs every month.
Settlement Statement (HUD)
Tricom prepares settlement statements as per HUD guidelines. We use the closing instructions provided by the lender to the Title Company to complete the statement overnight.
Appraisal QC
At Tricom we review the real estate appraisal report, especially for the special comments of the appraiser to make sure that appropriate comparables 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.
We also handle RUSHES for each service.