Our Services for Lenders

Services for Lenders
 
Turning a Corner…

The decline in housing activity over the last few years brought with it a significant contraction in home financing. Until recently, short sales and foreclosures were a significant source of activity and a significant drain on lenders, and mortgage refinancing represented a large portion of all mortgage applications due to the interest rate environment. Those were difficult days for lenders.
But with all signs now pointing toward a recovery in the housing market and continued low interest rates, the outlook looks promising. Mortgage applications for home purchase are now on the rise. New home construction lending and commercial lending are both recovering nicely with year over year gains. Alpha-Omega Title's Commercial Closing Team is led by a 20-year title veteran who is well-respected in the industry. 

Lenders Now Operate With Increased Regulation

Since the housing crisis began, mortgage lending guidelines and regulations have been continually changing in an attempt to eliminate the problems that caused the crisis. Each of those has had consequences for borrowers, lenders, the housing market and the broader economy.
New levels of documentation and verification are now required for a loan approval. Stricter underwriting standards and more lender accountability are now the norm. All of that combines to slow down and complicate the mortgage loan process.
All of these factors and others increase the importance of minimizing uncertainty when it comes to choosing a title services company. Expedient, comprehensive and accurate service is a must in today's real estate market to ensure a smooth closing every time.

 

You Need a Trustworthy Partner Who Understands Your Needs

Alpha-Omega Title has had the privilege of working with lenders for 30 years and we understand your title insurance needs. We understand the increased regulatory environment, are knowledgeable of situations that could delay closings and know how to address those issues. Alpha-Omega Title wants to be your title services partner to provide a superior closing experience with your client and serve you with excellence.

Alpha-Omega Title will handle all of your title insurance needs with efficiency, innovation and personalized service. We are committed to consistently delivering service that is timely, responsive and accurate.

Alpha-Omega's Title Services for Lenders 

Through our experience with mortgage lenders, we have built a team that understands the ever-changing needs of lenders and partners with them to provide top quality service to them and their borrowers. 

 

Here Are the Promises Alpha-Omega Makes to You as a Lender:

• Competitive Rates - We understand that the costs of lenders policies and closing costs for homebuyers can be burdensome. With this in mind, Alpha-Omega strives to offer competitive rates to keep costs to a minimum.
• Responsiveness and Speed - Alpha-Omega Title provides quick turnaround time on preliminary closing statements, title commitments, and other documents.   
• Risk Mitigation - Around a quarter of all real estate transactions have some sort of title problem which must be remedied prior to closing. You want your title company to be able to address any title issues accurately and efficiently so your closing is not delayed. We will advise you on the best procedures for clearing title defects or removing encumbrances.
• Experience - Our knowledgeable, courteous and professional representatives are intimately aware of the special requirements of lending institutions. Our experienced staff of experts understands how increased government regulations and scrutiny impacts your business.
• Relationships - We want a long-term relationship with you and your institution. Relationships require trust first and foremost. Trust comes with time as you realize how experienced, fast and responsive Alpha-Omega is.
• Personal Service - You will have a dedicated team working on your files from order to closing. 
• Innovation - Alpha-Omega uses Best Practices for the most efficient ways to close transactions and provide our customers the information they need. We continually strive for excellence in all that we do. 
• Expertise - Our experienced teams provide expertise in all areas of title lending transactions including residential, commercial, builder services and REO transactions. 
• Smooth Closings - Our dedication and experience ensure your loan closing will get done efficiently and accurately. We anticipate issues that may arise, and we work with you to get these situations resolved promptly. 
• Regular Communication - There are many steps that must be completed in the closing process. We will provide you information in the manner in which you prefer to communicate. Some clients prefer phone calls, others prefer emails. We are committed to effectively communicating with our clients throughout the closing process. 

Click HERE to view this page on our website!

Contact us for more information -- 

 

Alpha-Omega Title Services, Inc.

14001 North Dale Mabry Highway

Tampa, FL 33618

813-963-3009 (office)

813-963-5336 (fax)

www.alpha-omegatitle.com

lwilson@alpha-omegatitle.com

[This blog is maintained by our social media manager, C.J. Johnson. He can be reached at cjjohnson@alpha-omegatitle.com.]

Our Services

Closing Services

Alpha-Omega Title can provide closing services at our three convenient locations or at a location mutually agreed upon by the Client and our team.

Our processing of contracts and/or title orders includes, but is not limited to:

• Title search, examination and issuing of title commitment(s) to insure a final policy.
• Clearing of title, including ordering of payoffs and any and all liens that may affect or cloud title.
• Contacting all parties to insure that the lines of communications are established and free flowing.
• Working with the buyer's mortgage company to ensure a timely and stress free path to the closing table.
• Confirmation of receipt of title order and/or contract within 24 hours of receipt. The confirmation provides contact information on every file.

Escrow Services

We'll receive and process escrow deposits when Alpha-Omega Title is named as escrow agent on the contract.

 

Several considerations to be aware of:

• Out of state checks will require a minimum of 10 business days to clear.
• All escrow deposits will be made to Alpha-Omega Title. We will not accept a two party check.
• All requests for release of escrow deposit will be made in writing and by ALL parties on contract and at least 24 hours prior to date needed.
• In the event of an escrow dispute, Alpha-Omega Title will follow Florida Law in handling the dispute. This is spelled out in paragraph 16 of a standard FAR contract. 
• It will be at the sole discretion of the escrow agent as to the choice of arbitration, a Florida court, or the Florida Real Estate Commission.

Underwriting Information

Alpha-Omega Title is an agent with some of America's largest and most financially sound underwriters. We've been an agent with Old Republic National Title Insurance Company for over 25 years, and have a long history with Westcor Land Title Insurance Company as well. We've closed and insured billions of dollars of real estate for the residents of Florida.

 

Alpha-Omega Title is an independent agent for many of the largest,  strongest and oldest underwriters in America and has access to the vast legal counsel of firms such as Fidelity National Title, Chicago Title, Commonwealth Land Title, Old Republic National Title and Westcor Land Title.

 

Fee Structure

Alpha-Omega's fees are very competitive. For refinances, we give full re-issue credit for the existing owner's policy. For real estate sales, we'll give full re-issue if the owner's policy is no more than three years old. However, we must be provided with a copy of the owner's title insurance policy in order to issue a credit. Please call for more details.

 

Residential sales and refinances: Our managers and closers average an impressive 25 years of title industry experience. Our experience enables us to navigate the complexities of sales and refinances in an efficient and timely manner to facilitate your transaction from beginning to end.  

 

Commercial Department: We process, close and insure commercial sales and refinances.

Builder Services: Our builder team has decades of experience in catering to the builder market with our White-Glove Customer Service.

 

Short Sales: We partner with an attorney who professionally negotiates short sale transactions with an impressive closing rate.

 

In-House Title Search and Examination Department: Alpha-Omega Title controls the search and exam process to move our clients from order to closing with peace of mind.

 

Click HERE to view this page on our website!

Contact us for more information -- 

 

Alpha-Omega Title Services, Inc.

14001 North Dale Mabry Highway

Tampa, FL 33618

813-963-3009 (office)

813-963-5336 (fax)

www.alpha-omegatitle.com

lwilson@alpha-omegatitle.com

[This blog is maintained by our social media manager, C.J. Johnson. He can be reached at cjjohnson@alpha-omegatitle.com.]

Closing Document Basics

Document Basics

The following is a list of the most common documents that the SELLER will be required to sign at closing:

1. The Settlement Statement (also called "HUD - 1"): Itemizes the fees paid by both the Buyer and the Seller and gives the bottom line figure due to/from each party.
2. Tax Proration Agreement: An acknowledgment by both the Buyer and the Seller that taxes have been prorated between them using the best available information, and contains an agreement to recalculate the tax proration when the actual tax bill is available.
3. Seller's Affidavit: A statement certifying that the Seller is the true and lawful owner of the property, that there are no liens against the property other than those disclosed, and that there are no other matters which would adversely affect title to the property.
4. Payoff Statement: Issued by the lender being paid off, this shows the principal balance, accrued interest due, and any fees required in order to satisfy the loan.
5. Notice to Seller: General information for the Seller regarding insurance, the payoff, the survey and termite inspections, and typographical errors.
6. Warranty Deed: The document which is recorded in the Public Records and transfers legal ownership of the property.
7. 1099-S Exemption Form: States that the criteria exempting the requirement for reporting to the IRS have been met; if this is not the case, a 1099-S form will be issued. Please note: each transaction is different, and as such, additional documentation may be required.

The following is a list of documents generated by the Title Company that the BUYER will generally be required to sign.

1. The Settlement Statement (also called, "HUD - 1"): Itemizes the fees paid by both the Buyer and the Seller and gives the bottom line figure due to each party.
2. Tax Proration Agreement: An acknowledgment by both the Buyer and the Seller that taxes have been prorated between them using the best available information, and contains an agreement to recalculate the tax proration when the actual tax bill is available.
3. Notice to Buyer: General information concerning the survey and termite inspection, and clerical errors.
4. Purchaser's Affidavit: A statement that the Buyer has no knowledge of any matters that would adversely affect title.

Each Lender will have different documents for the BUYER to sign; however, almost all residential loan packages will contain the following:

1. Note: The promise of the Borrower to repay the loan, and the basic terms of the repayment.
2. Mortgage: The document which is recorded in the Public Records granting the lender a lien on the property to secure the loan. This document gives the lender the right to foreclose if the Borrower defaults on the Note.
3. Truth-In-Lending Statement: A required disclosure to the Borrower stating the annual percentage rate (this rate contains the fees charged by the lender and adds them to the note rate) and the total cost of the loan over its life.
4. Anti-Coercion Statement: An acknowledgment from the Borrower that the lender did not require the homeowner's insurance to be purchased from a particular company.
5. IRS Forms W-9 and 4506: The W-9 enables the lender to report the interest paid annually to the IRS; the 4506 is used in the event of an audit by HUD and allows the lender to obtain copies of tax returns directly from the IRS.
6. Payment Letter: Gives the amount and due date of the first payment.
7. RESPA Servicing Disclosure: Discloses to the Borrower that the lender has the right to transfer the loan on the secondary market.
8. Compliance Agreement: An agreement by the Borrower to correct clerical or typographical errors.
9. HUD - 1 Addendum: A statement that the HUD - 1 Settlement Statement is a true, accurate, and complete statement of the transaction.
10. Loan Application: A typed copy of the Borrower's Loan Application.

Click HERE to view this page on our website!

Contact us for more information -- 

 

Alpha-Omega Title Services, Inc.

14001 North Dale Mabry Highway

Tampa, FL 33618

813-963-3009 (office)

813-963-5336 (fax)

www.alpha-omegatitle.com

lwilson@alpha-omegatitle.com

[This blog is maintained by our social media manager, C.J. Johnson. He can be reached at cjjohnson@alpha-omegatitle.com.]

Our Team

Byron Gibbs Wilson, JR. - CEO
Gibbs is the Founder & CEO of "Alpha-Omega Title Insurance Agency" which has been in operation since 1983 and has won several awards from the Greater Tampa Chamber of Commerce, including Small Business of the Year in 2006, Outstanding Leader Award in 2008 and the Mayor's Award for Community Involvement.

Gibbs has served as Chairman of the National Christian Foundation Tampa Bay from 2005 through 2012. This is the largest community foundation in America, whose goal is to facilitate a Billion dollars of giving through Florida's generous givers. Gibbs also serves on the Board of Impact Tampa Bay, which is an umbrella organization that oversees Christian non-profits such as Lifework Leadership Tampa Bay. He has traveled on mission trips to Russia, Cuba, Guatemala, Sudan and Brazil.

Lori Wilson - CFO
Licensed in California as a CPA. MBA earned from California State University, Long Beach in December, 1994. Began career as an auditor with KPMG Peat Marwick in 1985, progressed to Senior Finance Manager of a $2.5 billion company prior to move to Florida in 2001. Responsible for financial controls, cash management, financial reporting, financial analysis, budgeting and forecasting.

Tracey Griffin - VP, Executive Manager of the South Tampa Office
More than 25 years of title experience with Alpha-Omega Title in which she has worked her way up through every position to the Vice President of Operations. The branch Tracey manages has been in place since the company was founded in 1983. Tracey has wonderful leadership qualities such as loyalty, dependability, mentoring and steadiness. Able to resolve the myriad title issues to get our clients to a fast closing, Tracey has fondly earned the nickname of "Title Princess" by our Raving Fan clients.

Wendy Verink-Terhune - North Tampa Branch
Wendy has more than 30 years of title experience and previously managed a Carrollwood branch of a national title company for over 10 years. Our valued clients depend upon her faithful attention to detail and rock solid follow up to assure for a seamless path from order to closing. Her wealth of title knowledge allows our customers to rest in the confidence that she will expertly clear the hurdles to quickly get to the closing table.

Deanna Tucker - Brandon Area Branch Manager
Deanna has been in the title industry approximately 20 years and has a variety of expertise, including serving the title insurance needs of the residential home building market. She previously managed an area title insurance agency with a major focus on residential home builders for more than 10 years and she is well known for handling all the details in a friendly manner so her busy clients can be more productive.

Nick Graham - Title Department & Commercial Department Manager
Nick hails from Ohio, the Buck-Eye state and has over 20 years of title insurance expertise. He manages our title search facility and also oversees our commercial department for sales and refinances. Nick is very detail oriented and our dynamic clients rely upon him for personable, professional and friendly title services that make them look good to their customers.

Don Dudgeon - HR Director
Business Graduate of the University of Michigan. Seasoned HR executive with more than forty years of Human Resources management and development. HR Director for more than 10 years of an organization with more than 25,000 staff globally. Responsible for personnel, recruiting, staff selection and retention, benefits design, leadership training, management development and cultivation of the corporate culture. One of his greatest strengths is developing people and achieving great results through them. In 2005, Don re-worked AOT's Employee Handbook and formed "Team Spirit", a group of company culture builders, who make the environment a rewarding and fun place to work.

Click HERE to view this page on our website!

Contact us for more information -- 

 

Alpha-Omega Title Services, Inc.

14001 North Dale Mabry Highway

Tampa, FL 33618

813-963-3009 (office)

813-963-5336 (fax)

www.alpha-omegatitle.com

lwilson@alpha-omegatitle.com

[This blog is maintained by our social media manager, C.J. Johnson. He can be reached at cjjohnson@alpha-omegatitle.com.]