BANGOR, Maine – October 10, 2023 – – titleLOOK® by Mainspring Services® is now offering automated title review to lenders, GSEs and other organizations in the mortgage banking sector. The Software as a Service (SaaS) solution reviews title reports from any underwriter or title agent to provide automatic and consistent analysis, as well as digital data that can flow on to other programs and processes. titleLOOK was launched in 2021 and was quickly implemented by title insurance underwriters and agents, a market that the company will continue to serve.
Due to the various formats and quality of title reports that lenders receive, title review is normally a time-consuming process. titleLOOK extracts previously inaccessible information and converts it into standardized digital data. Once digitized and organized, title information is examined against titleLOOK’s deep knowledge library as well as customizable factors that lenders may determine (Examples: proposed insured, lack of access exception, survey coverage requirements).
To bolster its capabilities in the sector, titleLOOK has named Liz Taylor to the position of Director of Lender Services. Taylor has more than 19 years of experience in the mortgage space, most recently in the role of Product Owner, Title and Closing Technology for Rocket Mortgage. Taylor is the second personnel addition titleLOOK has made in recent months to bolster its lender expertise; in August the company named Jeremy Potter to the role of President.
“titleLOOK launched as the digital title standard, but I didn’t fully understand what that meant until I was able to dive into the solution from a lender’s perspective,” said Potter. “The content of a title report is critical to lenders but can also be easily misunderstood from outside the title industry; it’s originated by different production systems, with distinct legalese and other verbiage, and is delivered in various file formats, including scans. titleLOOK is an absolute game changer in that it can take all this variability, standardize it, and run it against our knowledge and your rules. Lenders receive automated decisions, analysis, and risk categories, among other outputs, that add tremendous time savings and value. This is the solution lenders didn’t know they needed and I cannot wait to share the good news,” Potter concluded.
titleLOOK will also be available to run back title review and portfolio review to analyze existing title policies. Managers can assess risk against current standards, scorecard partners and pull standardized title information into other systems. The titleLOOK team will be meeting with lenders and other industry stakeholders at this year’s MBA Annual Convention and Expo.