EXL title settlement services

The housing eco-system includes many different players, from real estate agents, lenders, appraisers,closing and escrow agents, notaries, abstractors to title settlement and title insurance companies. In the post-pandemic era, some of the eco system players are adopting digital transformation however it takes everyone's contribution in order to make meaningful impact to overall mortgage closing cycle time borrower experience. Closing and Escrow as well as Title Settlement and Insurance companies (“Title Companies”) play a very crucial role in this eco system by supporting lenders and borrowers in the crucial closing process and in ensuring that the property title is in good standing.

Title Companies have traditionally relied on highly manual processes across the entire closing and escrow as well as title production functions. With over 3000 counties across US having different recording standards and processes, multiple lenders and other players involved, the complexities are enormous. There is a significant opportunity to transform this ecosystem though data led insights as well as AI / ML and RPA based digital technologies. EXL is focused on combining our deep domain experience and hyper automation capabilities to help Title Companies shift to a very different target operating model. We combine right mix of human and digital to transform the industry through technology driven innovation. EXL’s operations management, data analytics and digital capabilities bring right mix of operations outsourcing and hyper automation that positions us very uniquely in the market.

Title settlement in the digital world

Global labor pools and lean operations management are no longer the primary drivers to lower cost, increase revenue and delight customers. These objectives require reinventing operating models.

Title settlement in the digital world

Title settlement process; Solution levers

Our title settlement services are driven by our Intelligent Operations framework, enabled by deep domain knowledge, practical digital enablement, and being brilliant @ basics to provide best-in-class results.

Title settlement process; Solution levers

 

EXL’s title capabilities : Right mix of digital & human

EXL is successfully transforming title operations by deploying a combination of our proprietary Digital Solutions and Domain expertise resulting in 30%+ reduction in Operations cost and improved customer experience.

EXL’s title capabilities : Right mix of digital & human

 

Contact us and learn more

Kalpesh Master, Partner and Practice Leader, Banking and Financial Services

Kalpesh.Master@exlservice.com