ServiceLink, an origination and default services provider and the national mortgage services platform of Fidelity National Financial, has enhanced its title and settlement solution for reverse mortgage transactions.
Understanding that reverse mortgages differ from standard refinance transactions, ServiceLink says it offers a personal approach to help nontraditional borrowers close loans. The company has a dedicated reverse mortgage staff that is rigorously trained in these types of transactions.
The company also offers several closing options. iClose, ServiceLink's Web-based electronic closing platform, is designed for reverse mortgages. According to ServiceLink, borrowers appreciate the personal assistance received from a reverse mortgage signing agent through an online virtual meeting room. In addition, ServiceLink has given iClose special FamilyView capabilities that allow approved third parties, such as family members, attorneys or loan officers, to join the closing from remote locations.
The entire reverse mortgage signing session, including all of the borrower's responses, is documented and recorded. For in-office or in-home closings, borrowers can preselect appraisal appointment and signing dates at the point of sale.