New York-based AmTrust Title Insurance Company on Tuesday introduced MidPoint, its new title closing solution enabling title agents to work outside their geographic areas to serve clients nationwide.
“MidPoint offers agents three different levels of transaction services – depending upon their need – enabling them to offer their clients a truly nationwide service from escrow to close,” said Jason Gordan, president of AmTrust Title, in a statement. “MidPoint is a ‘game changer’ for the industry, enabling agents to work beyond their coverage areas and capture revenue that would have gone elsewhere in the past.”
MidPoint’s three transaction service levels are the “title-only workflow,” the “sub-escrow workflow,” and the “full-escrow service.”
In the title-only workflow, AmTrust issues a dual closing protection letter, while the agent controls the closing and funding before forwarding the recording information, enabling MidPoint to send the final policy to the client.
In the sub-escrow workflow, AmTrust issues the closing protection letter directly to the lender, while the agent controls ante closing and MidPoint handles the funding, recording and final policy.
For the full-escrow service, the title agent maintains direct contact with the client, while AmTrust serves as a silent partner handling the closing, funding and final policy.
“MidPoint is a true ‘one-stop shop’ for purchasing and refinancing residential and commercial properties, including property reports and title search capabilities,” Gordon said. “What’s more, all the files are completely accessible online, which makes for a smooth and efficient process for agents and their clients who need to cross-license areas and close transactions on a nationwide basis.”
AmTrust Title is a wholly owned subsidiary of AmTrust Financial Services, Inc. AmTrust Title is licensed to provide title insurance and closing services in 48 states nationwide, as well as several international jurisdictions.