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Law Firm Solutions
SingleSource has developed a suite of pre-foreclosure title services to support our law firm clients. You have access to industry-tenured Title experts on our staff who understand the unique requirements of these reports and can answer any questions you may have. We utilize a network of field agents who have experience completing these specific types of reports. Our goal is to provide you with a boutique experience where you receive custom solutions that fit your needs.
PRE-FORECLOSURE TITLE REPORTS
Foreclosure Search Report (available in all 50 states)
This report will provide a complete overview of any foreclosure action attorneys may need to be aware of regarding the collateral properties to their loan portfolio. The SingleSource title examination is a close examination of all public records affecting the title to the subject property. The search involves reviewing past deeds, wills, and trusts to make sure the title has passed correctly to each new owner. In addition, the SingleSource process looks for encumbrances on the property, which may not make it suitable to sell the property in the future. SingleSource obtains copies of all deeds, tax records, chains of title, and mortgage-related documents (copies can be provided if requested). We tailor our reports to meet any state or customer’s special requirements. These searches are two-owner searches and may include search history as far back as 50 years (state dependent).
Preliminary Judicial Report (PJR) (Ohio Only)
In Ohio, a Preliminary Judicial Report is completed by a licensed title agency during the foreclosure process. Preliminary reports are those filed at the time of the foreclosure complaint for the use and benefit of the guaranteed party, and the purchaser or the judicial sale. The report must reflect the name of the record owner, a legal description of the land, and a listing of all interests in the property that appear of record. The cost of the OH Preliminary Judicial Report is $250 for the title search and $3.00 per thousand for the open balance of the mortgage in foreclosure.
Supplemental Preliminary Judicial Report (SPJR) (Ohio Only)
Filed at any point during the foreclosure, these reports update the court on changes made to the property.
Final Judicial Report (FJR) (Ohio Only)
Showing the final status of the property prior to judgement and the foreclosure sale, Final Judicial Reports are filed with the foreclosure motion.
Title Update
A bring-down title search describes the continuation of due diligence in an additional title search before the recording of the deed or mortgage. This search addresses the gap between the time of the original search and the recording of the deed to ensure that no liens or other claims have been placed on a property during that time before closing.
Title Insurance Commitment (only in SingleSource licensed states)
SingleSource is licensed with several title underwriters to issue full ALTA title insurance in 35 states.
Mortgage Modification Policy
This search commences as of the date the mortgagor(s) of the mortgage that is being modified, or any of them, first acquired an interest in the property and shall include vesting information, legal description, unreleased mortgages, other liens, judgments, bankruptcies, and real estate taxes.
SingleSource is committed to providing unique solutions to address our client’s specific requirements. We are always partnering with our customers to better understand their pain points and provide new solutions. SingleSource has the years of experience, expertise, and vendor panel coverage to create custom solutions for every client’s individual needs.
