Nexgen Mortgage Solutions, LLC Launches Latitude, an End to End Solution Allowing Mid Tier Tenders to Address TRID
Middletown, RI (PRWEB) September 29, 2015 -- Nexgen Mortgage Solutions, a wholly owned subsidiary of Linear Title & Closing, Ltd, has officially launched Latitude Loan Services. Latitude has been in use in a limited release since January. Currently Latitude has 2,400 users and 200 lenders registered.
Latitude allows a lender to quote its title agents, send orders, send and receive documents & notes, schedule closings and compare title fees with its’ title agents. This ensures that all communication is handled directly from the LOS. Lenders are able to gain efficiencies by creating repeatable and predictable work flow and increase the level of security and protection of private data by eliminating the transmission of personal information via unsecure means such as e-mail.
Latitude also address new TRID guidelines by pushing all title fees directly into the New Disclosure and allowing an agent to go into Latitude to make fee changes to the New Disclosure when necessary and with the permission of the lender. The fee quoting engine is managed by TitleHound, another product owned and developed by Nexgen This product increases accuracy by eliminating the need for third party software and decreasing the time it takes to onboard new lenders and agents.
Latitude has also built a consumer portal, which manages communication with the borrower and can be used to securely deliver the new disclosure. The consumer portal stores mortgage and title documents for the consumer for up to three years. Another attractive feature is the “Generic Title Agent” solution, which provides access to a title agent not currently registered with Latitude, thus allowing the lender to facilitate (or complete?) a transaction with that agent. Often realtors or consumers prefer to use a title agent they are familiar with and in could be one who may not be registered with Latitude.
“Automation is critical for successful transactions in the new TRID environment," said Cheri Shine, EVP of Nexgen Mortgage Solutions, LLC. "We are excited to launch the solution that brings lenders and agents together to better serve their borrowers and to ensure they have accurate information regarding title fees and premiums for the new disclosures and to present a platform for XML workflow.”
About Linear Title & Closing and its wholly owned subsidiary Abstrax, LLC:
Linear is a fully diversified national title & closing company which offers a wide variety of services to lenders, servicers and title agencies. It also acquired NexGen Mortgage Solutions and is working to innovate and integrate industry-leading technology to help its customers stay ahead of the rapidly changing marketplace.
About Nexgen Mortgage Solutions
Nexgen Mortgage Solutions is a software development company focused on creating software for the mortgage industry. The company has developed three flagship products which are available to license: Latitude Loan Services, TitleHound and Certus.
For More information on Nexgen please visit http://www.nexgenmortgagesolutions.com/ or contact Andrew Michelson via e-mail at amichelson(at)NexgenMortgageSolutions.com or by phone at (888) 808-4644.
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Paul Fleming, Fleming + Company Inc., +1 (401) 241-5648, [email protected]
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