MileStoneInfotech improves the scale, quality and economics of our client’s back-office operations. We offer fully compliant Mortgage outsourcing services to Mortgage Lenders. The processing stage consists of requesting, collecting, and submitting all supporting credit documents to the mortgage banker for approval. MileStoneInfoTech Software Solutions processor will ensure completed loan application is verified and the supporting documents like income and asset information, "Pulling" a credit report and obtaining property documents for underwriting. We gather information and take each file from Pre-approval to closing. We do all types of loans (Conventional/FHA/VA and USDA) and have trained our Processors to do both Wholesale and Correspondent loans. .
A title is generally, the rights of ownership and possession of a particular property. In real estate usage, title may refer to the instruments or documents by which a right of ownership is established (title documents).
“Title” is defined as “the evidence one has of right to possession of the land”. In other words, the legally recognized owner of the land has “title” to the land.
What Title Search Services we offer
A deed is a written contract or agreement between a seller, who signs the deed and is called the "grantor", and a purchaser to whom the deed convey as real estate and who is called the "grantee". There are several kinds of deeds. Following are the types :
A deed that conveys only the grantor’s rights or interest in real estate, without stating the nature of the rights and with no warranties of ownership
One that contains that the grantor will protect the grantee against all claims.Usually contains assurance of good title, and freedom from encumbrances
A deed which the grantor limits the title warranty given to the grantee.The grantor does not warrant against title defects arising from conditions that existed before he owned the property
Deed in trust is a deed that conveys title from a trustor to the trustee for the benefit of the beneficiary. A deed of trust is often used in lieu of a mortgage, when the borrower, the trustor, transfers the deed to a trustee as security for the loan given by the lender.
Appraisal Report contains the appraised value of the real estate for which the borrower is to be granted a loan. This report is provided by certified Appraisers. We have a appraisal review team is one of the more resource-intensive tasks performed during the course of the mortgage process. The experienced underwriters at MileStoneInfoTech closely review every appraisal to help ensure that the collateral is adequate for the mortgage and that there are no critical issues with the property that would affect its value.
We order and review below streamlined appraisal reports in a manner sufficient with the underwriting expectations of Fannie Mae/HUD.
|1004||Uniform Residential Appraisal Report|
|2055||Exterior-Only Drive-By Appraisal Report|
|2075||Property Inspection Report|
|1004MC||Market Conditions Addendum to the Appraisal Report|
|1004D||Appraisal Update and/or Completion Report|
|1073||Individual Condominium Unit Appraisal Report|
|1075||Exterior-Only Drive-By Single Condominium Unit Appraisal|
|1004C||Manufactured Home Appraisal Report|
|1025||Small Residential Income Property Appraisal Report|
|216||Operating Income Statement|
|1007||Single Family Comparable Rent Schedule|
|2090||Individual Cooperative Interest Appraisal Report|
|2095||Exterior-Only Inspection Individual Cooperative Interest Appraisal Report|
|2000||One-Unit Residential Appraisal Field Review Report|
|2000A||Two-to Four-Unit Residential Appraisal Field Review Report|
A debt instrument, secured by the collateral of specified real estate property, that the borrower is obliged to pay back with a predetermined set of payments. A temporary, conditional pledge of property to a creditor as security for performance of an obligation or repayment of a debt.
A mortgage is said to be open end which does not include maturity date.
The mortgage which is having both open date and the maturity date is called closed-end mortgage. For example opening date is 01/10/2010 the closing date will be 05/10/2050.
This is the claim that allows a creditor or lender upon the lands of a debtor. Normally it is a defaulted amount which is not paid.
If the person has not paid the delinquent taxes then the concern department files a lien on his property.
If the property owner doesn’t pay the money for owners and labors payment.
If a person has not paid his treatment charges in hospital then that defaulted amount will come under hospital lien.
A Homeowner’s Association Lien is generally filed by the homeowner’s association for failure of the borrower to pay assessments due for common area maintenance or recreation facilities.
A Condominium Association Lien would be filed by the CondominiumAssociation, generally for failure of the borrower to pay assessments due for common area maintenance or recreation facilities.
A municipal or county lien is one which is filed by the city and or county supplying services, such as water and sewer, to the property which have not be paid.
We are working on Netronline Application for 36 Sates: KSS offers the lowest cost service in comparison to local title agencies (50% Savings) in the most efficient way. Our terms are the shortest most searches can be completed within 24 hours. KSS Property Title Search service is a convenient and fast way of securing yourself from buying a shady property. Just enter the property address to the form above and follow the registration instructions.