Title Issues.(services and management of mortgage banks)(Brief article)

Call it what you want, the last thing a servicer has to do in the loan administration process can be a headache. Conveying title back to the homeowner free and clear, or assigning the lien away to another lender or the homeowner, takes time and doesn't yield much revenue. But lenders that mess up the process not only add to their costs, they also can face fines and penalties for failing to record lien releases fast enough in most states.

Imagine a library with no organizational system. Just books and papers piled hither and there. Ever find yourself trying to find that one important piece of paper in a cluttered office on a deadline? (Believe me, those of us in the journalism industry have been there many times). Lenders have more at stake than most executives when it comes to record keeping. The collateral is only as valuable as the documentation that proves it actually serves as collateral. For that reason, maintaining proper title is essential to the industry.

Fortunately, with the end of the massive refinancing ...