People
this agent who works for the buyer
selling agent
The payment for the title policy is called this
What is title premium?
This is the largest underwriter
what is Fidelity
Qualia has this special security certification
SOC-2 Type 2
this person pulls all historical documents relevant to the ownership of this property from the recording office.
what is a title abstractor?
On refinances this party is getting a mortgage rather than buying a house
what is a borrower?
These states (like Texas) have this type of rates, premium splits, forms, etc. that are the same regardless of underwriter throughout the state.
What are promulgated rates/states?
this integration partner allows users to facilitate and track payoff releases.
what is reQuire?
this is where settlement agencies can place and track orders directly from each file with their preferred vendors and receive all data and documentation directly back into their file.
what is Marketplace?
After the title search is complete, the settlement agency will structure the results in this special document
what is the title commitment?
A non-attorney who has significant legal expertise, and does most of the processing work in attorney states
what is a paralegal
This organization is referred to as the CFPB
what is the Consumer Financial Protection Bureau
This underwriter is also a Star Wars era
what is Old Republic
The settlement agency can automatically send progress updates, send documents and messages securely, collect personal information through forms, and e-sign documents.
what is connect?
this gives details about the property and parties being insured
what is Schedule A?
employees of settlement agencies that manage real estate transactions (in non-attorney states)
what is an Escrow officer
this organization is charged with making consumer financial markets work for consumers, responsible providers, and the economy as a whole
What is the Consumer Financial Protection Bureau
this partner helps calculate recording fees and transfer fees for their closings
what is ClosingCorp
This service pairs our best-in-class title & escrow accounting software with a dedicated Qualia specialist who performs accounting processes for them.
What is Reconciliations?
After the title commitment is issued, the settlement agency will be responsible for resolving title issues listed in the Requirements section during this period
What is the curative period?
An expert who assessed the borders of a property, documenting the results in a legal description of the property.
what is a surveyor?
In 2015, this was an outcome of the Dodd-Frank act and requires the use of new, integrated disclosure forms for consumers at the time of application and settlement
What is TRID
this integration allows users to electronically record documents with the county clerk.
what is Simplifile?
These 3 founded Qualia
Joel Gottsegen, Lucas Hansen, Nate Baker
These are additional pieces of coverage that can be bought and added on to title insurance policies
what are Endorsements?