Products
and Services
Order Processing | Transferee Document Preparation | Equity Calculations | Resale Closing Coordination | Destination Title and Closing Coordination | National Recording | On-Site Services | National Lender Order Processing | National Lender Subordination Services | National Lender Closing Coordination | National Lender Post-Closing Coordination | ROPT Online®
The Fidelity Residential Solutions, Inc
division of Fidelity National Financial
specializes in providing national title insurance and residential
closings for relocation management companies, corporations, real estate brokers that offer
a home purchase program, national lenders and Internet loan companies. Fidelity Residential Solutions, Inc
offers a menu of services consisting of:
Relocation Order Processing, Transferee Document Preparation, Equity Calculations, Resale
Closing Coordination, Destination Title and Closing Coordination, National Recording
Service, On-Site Services, National Lender Order Processing, National Lender Subordination
Agreement Service, National Lender Closing Coordination, National Lender Post-Closing
Coordination and ROPT Online. The
Fidelity Residential Solutions, Inc operations are comprised of
offices in Minnesota, Texas, Massachusetts, Pennsylvania, Missouri,
and Oklahoma.
SERVICES
When a title order is received by one of our offices, the account representative identifies the appropriate title office or attorney and places the order. The order information is entered into our custom designed "ROPT" (Relocation Order Processing and Tracking) software to build a customer specific "to do" list to assist in tracking the status of the order. The Fidelity Residential Solutions, Inc account representative follows up with our title office on all work that has not been received in our office within three business days. Upon receipt, the account representative reviews and highlights the preliminary title commitment for all encumbrances, liens, etc., and prepares a "title analysis" for our customer.
Transferee Document Preparation
Our ROPT software prepares
state-specific notary instructions, deeds, owner's affidavits and any additional state
documentation necessary to transfer title. In
areas where it is considered the unauthorized practice of law for Fidelity Residential Solutions, Inc
to prepare
these documents, we contract with our local closing attorney for document preparation
services. If requested by our customer, we
send the document package to the transferring employee for signature and monitor the
return of the documents. The account
representative reviews the documents for proper execution, notarization and witness
requirements.
Based upon instructions received from
the relocation company or corporation, the Fidelity Residential Solutions, Inc
equity closer updates the title
commitment, mortgage payoff information, property tax information and homeowners
association dues. Our equity closer prepares
a transferee's equity statement by calculating the difference between the offer price and
the mortgages, prorated taxes and homeowners association dues. Calculations of the transferee's equity are
based upon the vacate date or an established prorate date.
If applicable, the Fidelity Residential Solutions, Inc equity closer prepares and reports the 1099S to
the Internal Revenue Service on behalf of the customer and transferring employee.
Fidelity Residential
Solutions, Inc coordinates the resale
closing by forwarding a closing package and executed transferee's documents to the local
closing office. The Fidelity Residential Solutions, Inc
closing
coordinator monitors the status of the closing for the customer. We obtain the closing figures, with written
back-up documentation, prior to the actual closing.
The settlement figures are reviewed by the closing coordinator for accuracy
and compared to the transferee's equity statement and to the purchase agreement to ensure
that only the appropriate fees are being charged to the customer. Upon final figure approval, the closing office is
instructed to proceed with the closing. The
Fidelity Residential Solutions, Inc closing coordinator confirms that the transaction successfully closed and
verifies the amount of the proceeds. A
written confirmation to the customer provides information on how and when the proceeds and
the closing package were sent to our customer.
Destination Title and Closing Coordination
Fidelity Residential
Solutions, Inc account representative
forwards a letter of introduction and an explanation of our destination services to the
transferring employee. The letter contains
the name, address and phone number of the title and closing office located in the
destination city, if the employee has purchased a home at this time. Upon executing a Contract of Sale, the
transferring employee instructs the selling realtor to notify the lender to place an order
with Fidelity Residential Solutions, Inc for title insurance.
Fidelity Residential Solutions, Inc
acts as a liaison between the corporation, relocation company, the closing office, the new
lender, the transferring employee and the selling Realtor until final close. At closing a Fidelity Residential Solutions, Inc
closing coordinator reviews
the preliminary closing figures and compares the figures to the Contract of Sale, the Good
Faith Estimate and the lender’s closing instructions to ensure that only the
appropriate fees are being charged to our customer.
Fidelity Residential Solutions, Inc
contacts the closing agent to inform them of any required
revisions to the closing figures or to request additional documentation. Upon Fidelity Residential Solutions, Inc
approval of the final figures, the
closing office proceeds with the closing. The
Fidelity Residential Solutions, Inc closing coordinator confirms that the transaction successfully closed and
verifies that there have been no adjustments made to the final HUD-1 Settlement Statement. The closing coordinator forwards a Closing
Confirmation and final settlement statement to our customer. The Fidelity Residential Solutions, Inc
closing coordinator also monitors
any work escrow held by the closing agent after closing.
Fidelity Residential
Solutions, Inc coordinates the recording
of documents (first and second mortgages, deeds of trust, reconveyances, releases,
subordination agreements, modifications and warranty deeds) throughout the United States. Fidelity Residential Solutions, Inc
prepares any required transfer forms for
conveyance documents and monitors the return of the recorded document.
Located in our customer's office, Fidelity Residential Solutions, Inc
provides out-sourced title and closing services.
Our staff operates in conjunction with our customer's accounting
department, utilizes our customers software and functions in conformance to the customer's
existing workflow and culture.
National
Lender Order Processing
A Fidelity Residential Solutions, Inc account representative identifies the appropriate title office or attorney and places the title order. The order information is entered into our "ROPT" software to build a customer specific "to do" list to assist in tracking the status of the order. The Fidelity Residential Solutions, Inc account representative follows up with our title office on all work that has not been received in our office within three business days. Upon receipt, the account representative forwards the title commitment to our customer. The account representative acts as a liaison between our customer, the borrower and the local closing office, when requested.
National
Lender Subordination Services
A Fidelity Residential Solutions, Inc account representative
coordinates with the junior lien holder, the borrower and our customer to obtain the
required documentation necessary to subordinate the lien.
Upon receipt of the executed subordination agreement, the account
representative forwards the document to the county recorder and monitors the return of the
recorded subordination agreement.
National Lender Closing Coordination
A Fidelity Residential Solutions, Inc closing coordinator
assists with the scheduling of a closing with the borrower, seller, closing office and our
customer. Our closing coordinator ensures the
loan documents are ordered and delivered to the closing office in a timely manner. They monitor the status of the closing and
delivery of the final title policy and recorded documents to our customer.
National
Lender Post-Closing Coordination
A Fidelity
Residential Solutions, Inc
closing coordinator monitors the status of a closing. Our closing coordinator requires the local closing
office provide Fidelity Residential Solutions, Inc a complete and certified copy of the loan closing package. Our closing coordinator reviews the loan package
for proper execution and notarization of the loan documents, compliance with the lenders
closing instructions and accurate collection and disbursement of funds. Fidelity Residential Solutions, Inc
resolves any post closing issues with
the local closing office and delivers any outstanding documentation to our customer.
ROPT Online® is a secure Web based
site developed by our Fidelity Residential Solutions, Inc Information Systems department. ROPT Online® is an interactive system allowing
online order placement and up-to-the minute order tracking for our customers. ROPT Online® is integrated with our custom
developed application, "ROPT".
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