MReport October 2021

TheMReport — News and strategies for the evolving mortgage marketplace.

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4 | M R EP O RT MTECH Changing How Title Agents and Underwriters Work Together WFG'S UNIQUE MODULAR BUSINESS SOLUTIONS ENABLE AGENTS TO REDUCE COSTS, ENHANCE EFFICIENCY, AND GROW THEIR BUSINESS. W FG National Title Insurance Company (WFG), a Portland- based, full-service provider of title insurance and real estate settlement services for commer- cial and residential transactions nationwide, has published a new whitepaper that explores the title agent-underwriter relationship in great detail. The paper, Creating a True Partnership Between Title Agencies and Underwriters, is available as a free download on the WFG Blocks website. "A number of states have recently enacted rating structures that will directly impact the title insurance industry and its pric- ing structure," WFG Executive Chairman and Founder Patrick F. Stone said. "If legislative changes trigger actions by federal and state regulators to drive down premiums, those independent title agents who have not established cooperative, "optimal" working re- lationships with underwriters will be at a disadvantage." Nearly 1,600 title agents cur- rently work with WFG, and many of them count on their underwriter for certain necessary functions through WFG's special program. WFG refers to it as "Blocks," a name that underscores the modular structure of the pro- gram. These "Building Blocks for Business" support WFG's agent network with a set of turnkey back-office processes available for title companies to use to build out their own businesses more efficiently. "These are services that do not necessarily have a market identity, and that can be used successfully without in any way compro- mising a title agent's established position in their market," Stone explains. "Through this program we have given title agents access to WFG's national corporate services to use as an integral part of their own businesses. They plug directly into their operations, individually or in combination, based on their needs." The new whitepaper goes into detail on the following Blocks, which are all available to title agents today: The Latest From the Mortgage Tech Landscape This month's MTech lineup includes news about modular business solutions, non-QM offerings, and Income Driven Repayment (IDR) plans.

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