Answers for a more confident closing
Plain-language guidance about title insurance, settlement, technology, and information security.
What happens at a real estate closing?
Closing, settlement, or escrow is the point when documents are signed, funds are transferred, and ownership can pass from seller to buyer. Before closing, the settlement team coordinates title work, payoff information, lender requirements, and the Closing Disclosure or settlement statement. Work continues afterward to disburse funds, record documents, and issue applicable policies.
Why is title insurance important?
A title search reviews public records for ownership issues, liens, and other defects. Some risks may remain hidden or be missed despite a careful search. An owner’s policy can protect the buyer’s interest, while a lender’s policy protects the mortgage lender. Coverage and exclusions are defined by the policy.
What title problems can occur?
Examples include errors in deeds or public records, forgery, undisclosed heirs, conflicting wills, unpaid liens, boundary disputes, and other ownership claims. A title professional works to identify and resolve applicable issues before closing.
Do I need new title work when refinancing?
A refinance creates a new loan, so the lender will commonly require a current title search and a new lender’s policy. Ask whether a refinance or reissue rate is available in your state.
How does Nations use technology?
Clients can receive real-time order updates, secure document exchange, customized reporting, rate information, e-signature capabilities, and integrations with major loan origination systems. Custom integrations may also be available.
How is sensitive information protected?
Nations uses written information-security practices, encrypted systems, access controls, redundant services, employee training, and background screening. Operations are designed around industry compliance obligations and protection of nonpublic personal information.
Can I choose my title or settlement provider?
Consumers may have choices depending on the transaction and applicable law. Compare licensing, underwriters, fees, experience, affiliations, and the services included. Ask your lender, attorney, or real estate professional how provider selection works in your transaction.
What are the Loan Estimate and Closing Disclosure?
For many consumer mortgage transactions, the Loan Estimate describes estimated loan terms and closing costs early in the process. The Closing Disclosure provides final loan and closing details before consummation. Ask your lender about timing and questions specific to your loan.
Need help with a transaction?
Connect with a Nations Lending Services specialist.