Redwood City, CA (PRWEB) September 30, 2005
Mortgage Benefits Corporation (MBC; http://www.mortgageplans.com), the leading provider of group mortgage benefits, today announced that Lenders Advantage (http://www.lendersadvantage.com), a division of First American Title Insurance Company, has reached an agreement to provide discounted settlement services for The MortgageChoice Plan™ through Uniquest™, a tailored title insurance and settlement services product for refinance transactions.
The new Uniquest product offers special pricing and terms on title insurance and other settlement services to MortgageChoice Plan members through a nationwide, state-of-the-art electronic processing system. Plan Members will benefit from a centralized title product, coordinated with the "high touch" support of a local closing. Lenders Advantage utilizes local First American offices/agents in 44 states and DC for settlement.
"Lenders Advantage has created a unique program with national servicing levels and special pricing terms to fulfill title and settlement services for our Plan members"said Marsha Tiller, president and founder of MBC. "Uniquest is an unprecedented fusion of a centralized title product, coordinated local closing services, and enhanced customer support. Lenders and brokers will be able to work together on The Mortgage PPO™ and The Realty PPO™ platform to control title turn times and monitor the quality of local settlement agents. "
Uniquest will not require the MBC mortgage broker providers to modify their internal processes to accommodate existing Lenders Advantage programs or require adapting to a customized variation of centralized closing. Instead, Uniquest is a complete modification of Lenders Advantage programs and will wrap around the existing process of most mortgage brokers.
The MortgageChoice Plan voluntary benefit, launched in June 2004 on The Mortgage PPO platform, utilizes the purchasing power of the employee group to provide discounted pricing and offers a choice of preferred providers and one-stop shopping convenience. In July, MBC launched The Realty PPO™, which features cash rebates and credits to employees for the purchase or sale of homes, a choice of pre-screened Realtors® within The Realty PPO network, a "Search for Homes" feature that allows Plan Members to view over 1 million profiled properties nationwide, and a convenient online verification process to assist Plan members in redeeming their rebates.
MortgageChoice Plan Member benefits include credits of .15% of the loan amount at closing, a *11%-30% average savings on title and settlement services, loan products from over 100 wholesale lenders, Â¼% rate discounts and 50% lender fee discounts on Preferred Lender products, a Member Help Center open daily, and Consumer Protection with dispute resolution services.
MBC sponsors and administers the Plan at no cost to qualifying corporations or Plan participants. The Plan is marketed to Fortune 2000 corporations and associations exclusively through benefits brokers and benefit consulting firms.
About Lenders Advantage
Lenders Advantage, a division of First American Title Insurance Company, was formed to provide title services to originators of refinance and equity loans rapidly, conveniently, and efficiently, and specializes in offering centralized services to meet lenders' title and escrow needs. Lenders Advantage specifically created Uniquest, a refinance program that allows mortgage lenders to experience the benefits of a centrally-produced title product with the "high-touch" support of a local closing. For more information, visit http://www.lendersadvantage.com.
About Mortgage Benefits Corporation
Mortgage Benefits Corporation pioneered the concept of Group Mortgage and Realty Benefit Plans with the introduction of the MortgageChoice Plan™, a no-cost voluntary benefit that allows members to purchase, sell and finance homes through an employer group plan that offers a choice of credentialed Loan Agents and Realtors®, loan products from more than 100 lenders, cash credits and cash rebates on transactions, group discounted pricing, consumer protection, and one-stop shopping convenience. Plan Members have one click access to The Mortgage PPO™ and The Realty PPO™, the first "members only" discounted brokerage platform of its kind. Founded in 2003, MBC is a privately held corporation headquartered in Redwood City, CA. For additional information call 650-632-4692 or visit http://www.mortgageplans.com.
*savings may vary by loan amount and geographic location
MBC Public Relations
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.
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