Benefits of Virtual Escrow
Any size Mortgage Lender* or Real Estate Sales Company can provide Escrow Services with little or no Escrow experience. Your Loan Processor or Escrow Coordinator becomes your Escrow Officer taking control, and processes your escrow in conjunction with a Virtual Escrow Officer. The system is web based allowing both to work the same escrow. Virtual Escrow empowers your people and brings you closer to your customer.
When you sign up with Virtual Escrow, you will have access to this innovative software. You will receive free, professional training on a clear and easy to understand program with very little learning curve. You will have ongoing support and a Virtual Escrow Officer working with you on every escrow, every step of the way. Start saving processing time and unlock your profit potential! Empower your employees and improve your workflow! With just a click fee for every closing, you will be creating a profit center to improve your bottom line.
Grow your Business with Virtual Escrow Technology, and unlock your profit potential. You establish your own escrow fee schedule, earning income in the process. Not only do you improve your work flow, but you will also make your processor's job easier, which will save you more time and money to boot. There is no up front fee or ongoing investment into your new escrow division. You just have a new source of revenue, which will improve your bottom line with your first closing!
Our system is a huge step forward in Escrow Processing Technology. The System eliminates waiting for Instructions, Payoff Demand Statements, Estimates, Amendments, and even your checks. You can retrieve these documents with speed and efficiency whenever and wherever you need them. Being Event Driven, our system does most of the work for you.
New Profit Center
The PROFIT POTENTIAL should not be overlooked. You will be pricing your new escrow company. These fees fall into basically 3 categories.
1. inexpensive.... Really charging well below the current market for your escrow duties. Once again, review a number of old HUD1's to get an idea of what has and is being charged. Escrow fees seem to have gone up in the last months because of the aggravation factors that the shortsale environment is bringing.
2. medium.... Once again. .review a number of old HUD1's to get an idea of what escrow has been charging. The average of the fees is basically your"medium" prices.
3. Premium.... A little more expensive than medium priced. You will find that the lenders are not really questioning escrow fees because of the new problems associated with the shortsale and getting those approved and closed. There is some time and aggravation involved forsure.
Generally we see our brokers making $500-$1500 for a refi, and $1000-$4000 for a purchase escrow... A lot of factors effect the price of escrows. purchase escrow generally are based on the selling price of the home. You will charge per thousand along with a base escrow fee on a purchase. A refi is more of a base fee type escrow..You will also charge ancillary escrow fees, such as loan tie in fees, broker processing fees etc..
Don't leave all that money on the table for some outside escrow. Why?
Diversify and GROW SMART.
Improve your bottom line with your first closing!
SIGNUP FOR VIRTUAL ESCROW TODAY!
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