Ready to refi? Here’s what you need to know.
When you refinance your mortgage, your lender works with a title company to coordinate the documents and funding of the transaction, as well as with an appraisal management company (AMC) to perform a home appraisal, when necessary.
As a title provider, an appraisal services provider and an escrow/closing agent, Amrock streamlines the refinance process by offering these key functions – making us a preferred provider to multiple top lenders.
If you’re looking to refinance your home, then you’ve probably been through the mortgage closing process before. During that process, your lender likely required title insurance in the form of a lender’s policy. You may have also opted to protect yourself with title insurance in the form of an owner’s policy.
To understand why your lender is requiring a new policy when you refinance, it’s important to understand how the life cycle of each of the two types of policies work.
If you purchased an owner’s policy when you bought your home, you paid a one-time fee at closing. That policy protects you for as long as you or your heirs own the home.
As your closing agent, we operate as a neutral third party between you and your lender. In addition to handling the title documents required by your lender, we assign your signing agent, reach out to all parties involved and work together to schedule a closing that’s convenient for you – anytime, anywhere. Depending on your location and loan type, you may be able to experience the speed and certainty of a eClosing. Amrock is an industry leader in these types of closings and works with a nationwide network of signing agents who are highly trained in this process.
Once all closing documents are signed, we notify the lender that closing is complete. The lender sends us the funds that are to be disbursed as part of your loan. When we receive them, we pay off any prior mortgage and other liens, then send you any potential proceeds, as described in your Closing Disclosure.
With decades of experience, service in every state across the country, easy and reliable communication, extended hours and the freedom to close on your schedule, you can look forward to a great refinance experience.
Our Residential team can guide you through the title and closing process.