FNF Canada provides several mortgage settlement related services that can be used individually, bundled as a comprehensive program or blended with a bank’s internally managed functions to provide an end-to-end solution for mortgage settlement.
These Services Include:
- Title Insured Closing Services for Refinances, Lines of Credit and Transfers/Switches
- Purchase Transaction Instructing and Funding
- Transfer Out Service
- Mortgage Discharge Fulfillment
- Other Ancillary Services and Projects
FNF Canada’s mortgage settlement services are comprised of a suite of options for your mortgage fulfillment. Each program is multi-faceted and can be seamlessly tailored to your individual business requirements. With a single, national web based technology system for transaction management (FNF Connect), we have the flexibility to design your programs so that you have a standard process and consistent level of high quality coast to coast.
Your program can be delivered centrally or through local offices, providing you with a competitive advantage when you leverage this unparalleled offering. Complement that with the industry’s only end-to-end solution, FNF Canada provides you with the option of handling your mortgage from appraisal through to mortgage registration, tax servicing and discharge, all through one solution.
FNF Canada has been at the vanguard of providing outsourcing solutions to Canadian lenders for fulfillment and management of their mortgages. The following core services are provided to our lenders.
Title Insured Closing Services for Refinances, Lines of Credit and Transfers/Switches
We provide tailored programs for our lenders to be able to package and offer to their clients as a value added service to complete their mortgage transaction quickly and affordably. By also delivering the program with the highest level of service and quality, we have enabled our lenders to leverage it as a sales tool and differentiator with their clients. Our mortgage settlement services are tailored to the myriad of lender sales delivery channels and every province and territory in Canada. We have expertise working with branch based lenders, member focused credit unions, lender sales channels for both traditional and virtual banks, and mortgage brokers. Our combination of options for signing, which include in-branch, at home or office signing service and at the lawyer/notary office, support the needs of each of the sales delivery channels. We provide for the following within the design of the services, which the lender can choose from to align with their business objectives.
- Conducting title and related searches
- Generating mortgage documents
- Advanced title defect resolution
- Mortgage signing and ID verification services
- Prior mortgages payout and discharge
- Final reporting
- Title insurance (from Chicago Title)
Purchase Transaction Instructing and Funding
FNF Canada provides a purchase “flow through” service for lenders throughout the country, which is the outsourcing of the instructing and funding management process. This provides the lender with the convenience and standardization of a single point of contact/coordination as FNF Canada works directly with the legal community on the lender’s behalf to oversee the mortgage portion of the closing for purchases. These programs are again customized to meet the needs of each lender, their particular sales channels and even the lender’s investor, where applicable.
Transfer Out Service
FNF Canada provides a mortgage “transfer out” service to lenders when they are pooling existing mortgage loans for capitalization purposes and require that the registered mortgage be amended to reflect the name of the trustee. Rather than the lender having to carry staff to fulfill this cyclical, non-core work, it is outsourced to FNF Canada (becoming a variable cost) and undertaken as either a structured program or on a project type basis. We have a fully automated process that intakes pools, tracks key dates and monitors progress on the process. We complete the necessary searches, prepare the transfer documents, execute, submit for registration and report to the lender. This service, again, provides for a highly automated and standardized delivery that our clients have grown to trust and value a great deal.
Mortgage Discharge Fulfillment
FNF Canada has been providing discharge fulfillment as part of our mortgage settlement services going back to the first program we introduced 20 years ago. Unlike other companies, this is a core part of the service that we offer to our lenders when handling their mortgage. We have leveraged the depth of experience that we have developed and created a dedicated discharge program for lenders who wish to outsource the discharge fulfillment in its entirety and eliminate the internal cost of keeping this non-core function in house. As with all of our programs, FNF Canada customizes this program to the needs of the lender and wraps it in automation, through the same web based solution noted above. The customization is delivered through how the distribution of files is managed, signing procedures are execute, the authority level to execute documents that you provide and the registration and reporting requirements.
Other Ancillary Services and Projects
FNF Canada has been able to partner with lenders for a myriad of ad hoc services on either a structured or project type basis when they have a highly custom need. We have developed a strong track record for being able to deliver services that may be considered “out of the box” and assist our lenders at a time of need. Our adaptability and leading technology provides us with this unique capability that we are proud of as it allows us to partner with our lenders in a strategic manner.
Some examples of these types of services or projects include:
- Outsourcing of cash back/coupon offers for customers
- Title searches
- Modification to the registered mortgage (name or address for service)
- Creation and delivery of customized documents
- Mail out of discharges in provinces with specialized requirements
- Scanning and storage of critical documents
- And more
Our passion to serve extends to being able to create a solution for a unique challenge or need that a lender has and enabling them to achieve their objectives.
FNF Canada’s industry leading technology, FNF Connect, is the only web based national processing system that exists in Canada for taking the mortgage from appraisal through to mortgage registration, tax servicing and discharge. It incorporates sophisticated business rule capability, document management and storage, comprehensive audit and controls, integrated portals for remote signers and lawyer/notary signing management, as well as integrated customer facing tools such as the customer’s portal and mobile application for transaction monitoring. All of this is available either through direct XML integration with our lenders or their tailored portal.
The most recent expansion of our technology includes a full integration of business intelligence capability, providing our lender clients with the ability to receive real time customized or self-service reports that provide insights into service levels, quality, volumes and other important business analytics to enhance their oversight of the program. This also extends to a customized dashboard that they can use to manage the business on a day to day basis, which creates a level of transparency that we welcome and encourage with our customers.
The technology we offer has provided clients with the ability to close their transactions quickly and effectively. It has been a key differentiator for FNF Canada that we continue to invest in annually as part of our commitment to remain the industry leader in technology and innovation.
- Partner with a service provider that is eager to win your business and in the years that follow, continues to treat every file as if it were the first. We are passionate and driven to exceed your expectations when you choose FNF Canada, not only today but throughout the expansion of our partnership
- Ability for our lenders to leverage the expansiveness of our integrated services, as we can seamlessly handle your mortgage needs throughout the life cycle, from appraisal through to mortgage registration, and post close to tax servicing, collections and discharge or securitization
- Benefit from our leading technology platform in FNF Connect, which enables highly customized solutions for our lenders while providing standardized process and high level of quality of service delivery coast to coast. It also provides seamless integration of our remote signing service, lawyer/notary signing coordination and other partner integration to further enhance the turnaround times and service quality
- Choice in service fulfillment as we have the flexibility of providing program delivery on a localized basis in our regional offices that are full service operations in major markets or opt for a centralized national approach
- Capability to quickly and efficiently handle the outsourcing of non-core functions or unique ad hoc needs, bringing more of a holistic partnership type approach to our services to a lender vs. being just a supplier
- Our end-to-end mortgage settlement solution is unmatched in the industry. We have seamlessly integrated the services required for the life cycle of a mortgage closing from the request for an appraisal through to funding and registration of the transaction.
- This provides our lenders with a competitive advantage over others as they are able to leverage faster turnaround times and greater operational efficiency by fully utilizing our services.
- We offer complementary business process outsource products within our scope of services, all of which are tailored for our client’s needs in terms of process, technology and servicing.
- With a resume of 3 of the big 5 Banks, 8 Schedule I banks, several credit unions, virtual banks, monoline and broker lenders, we have developed strong expertise in customizing solutions and delivering service that exceeds our customers’ expectations.
- 5 Offices offering coverage from coast to coast in both official languages
Want to learn more about Settlement Services?
Contact an FNF Canada representative
MORTGAGE SETTLEMENT METHODOLOGY
Integration with a Client
A key part of successfully onboarding new clients is to integrate with their operation from a systems perspective, whether that be through a seamless Direct XML connection or providing a customized portal for transaction, document and communications management.
MORTGAGE SETTLEMENT METHODOLOGY
We fully assess the client’s existing processes and bring in our deep, diverse experience to create a best in class process, reducing steps and simplifying to enhance the end customer experience and reduce operational demands on our clients. We proactively make recommendations to our client on how to best achieve a competitive service offering, reduce their costs and maintain a reputation as a leader in the financial services industry.
MORTGAGE SETTLEMENT METHODOLOGY
Through our industry leading technology, we are able to automate many of the steps in the process with our internal processing system to reduce turnaround times and improve quality. With FNF Connect, each of our offices, teams and various programs utilize the same platform, enabling us to deliver a consistent process nationally for our clients. We strive to automate everything from file opening to constant communication updates, use of OCR, posting documents for online pick up, bar coding packages and even integrating with our courier partners to save time and ensure reliability. These are just a few examples of how we don’t settle for less as it relates to continuous improvement with technology.
MORTGAGE SETTLEMENT METHODOLOGY
We further enhance the technology automation by integrating other components, such as our Signer Connect portal for efficiently managing remote or lawyer/notary signings, Broker Connect to keep your brokers or sales channels connected with their deals and, FNF Mobile Connect – the mobile app that keeps those in the fields fully up to date with their closing service and appraisal files. These enable our clients to be more competitive by enhancing communication on their transactions and, again, reducing turnaround times.
MORTGAGE SETTLEMENT METHODOLOGY
Infuse with Service Excellence “SERV”
None of the above matter without the traditional foundation that FNF Canada was built upon – delighting the customer and treating every transaction as if it were the first. We are honoured to partner with our clients and are re-winning their confidence and trust with every file, something that we strive to do consistently and do not take for granted.
FNF Canada has a unique vision of service excellence which has triggered the development of a customer first commitment to service, SERVICE Plus, which includes:
- Clients rave about the quality of service at FNF Canada
- Employees feel empowered to address client service issues
- Individually and as a team, we take accountability for our actions
- There a few client complaints and those that occur are turned into client service victories