Titan Lenders Corp and Bay Docs Partner on HECM Outsource Service

Titan Lenders Corp, a mortgage back office fulfillment services provider specializing in closing, funding, and post closing services and Bay Docs, Inc., an expert document services provider to lenders in the reverse mortgage industry, have partnered to create a complete HECM outsource solution for mortgage lenders that want to accelerate their entry to the reverse mortgage market.

Titan Lenders Corp is an outsource variable cost solution alternative for mortgage bankers, brokers and investors seeking to reduce risk, errors and overhead in their mortgage operations, while remaining responsive to fluctuations in their loan closing pipeline. A specialty provider of compliant reverse mortgage documents since 1994, Bay Docs is industry compliant in all 50 states and maintains an extensive document library.

The Titan/Bay Docs HECM outsource solution takes over when the originator completes the requisite HECM borrower counseling. Its services include providing state specific initial disclosures, vendor management, preparation of the HUD package including HECM compliant docs for 20 servicers, funding, and forwarding the case binder to HUD. By outsourcing HECM fulfillment services, lenders avoid retraining staff or making additional hires with the required skill set, and eliminate the risks of non-compliance.

“Lenders see the reverse mortgage coming into its own as a financial alternative for Baby Boomer home owners, and they are interested in originating compliant HECM products profitably,” said Titan Lenders Corp founder and CEO Mary Kladde. “Working with Bay Docs, arguably the most knowledgeable provider of reverse mortgage documents, Titan Lenders Corp offers lenders fast profitable HECM entry strategy – with compliance guaranteed.”

According to Kladde, Titan Lenders Corp will absorb any cost or fees related to errors in its delivery of reverse mortgage services to lenders.

“Bay Docs aligns itself with companies that are looking to provide only the very best to their clients,” said Kathleen Leonard, Bay Docs vice president. “We were impressed that Titan Lenders Corp has been willing to invest time in understanding all the ins and outs of this industry before jumping in.”

Bay Docs remains committed to helping lenders in any way to provide services that best suit the borrower, she added.