Today, at the Future of Real Estate Summit, we announced our newest product for lenders: Qualia Post. Post completely automates the process of collecting digital and physical trailing documents like recorded mortgages and title policies. This streamlines mortgage post-closing operations and gives post-closers back critical time to focus on high-value tasks.
With Post, we’re expanding our investment in products that make it easier for two critical partners in the home closing—lenders and title companies—to work together more efficiently than ever before.
How Post transforms the post-closing process
The post-closing process for lenders involves a number of complex tasks to ensure that compliance is met and the loan can be resold. Qualia Post makes one of the most critical parts of the post-closing process—the document exchange between lenders and title companies—more streamlined.
While most closing documents are seamlessly returned to the lender directly after a signing, some documents cannot be delivered until after the recording is complete. These “trailing documents” are often not available until days or weeks after the signing. As a result, lenders must follow up with title processors (who have since moved on to fulfill the next set of time-sensitive orders) to collect the trailing documents. This process creates delays, costs lenders valuable time, and adds to the amount of effort required to complete their work.
Qualia Post automates the collection of trailing documents, freeing up post-closers to focus on other critical parts of their job.
Automating the post-closing process with Post
The exchange of post-closing trailing documents is an excellent use case for automation because the process is time-intensive, repetitive, and prone to human error. By automating the process, document requests take place without delay and are exchanged the same way each time—through a secure, cloud-based portal.
Here’s how Post works:
Post integrates directly with the lender’s Loan Origination System (LOS). Once funding is complete and the signed closing documents are ready, Post requests trailing documents from title companies. Title companies log into a simple, secure interface to share documents, which automatically flows back into the documents section of the lender’s LOS. Post then notifies the post-closing team that trailing documents are ready for review. As an added service component, Qualia representatives will follow up with title companies on behalf of the lenders that experience delays to help ensure a seamless experience.
While Post integrates with title companies using any title production software, Qualia-powered title companies have the advantage to further automate their post-closing operations with lenders. Title companies on Qualia’s platform can automate many of their own processes by turning on instantaneous document sharing once recorded documents are available.
Post is simple to set up. Lenders can set up into their existing workflow in minutes and can be running it without any additional training for their team. Qualia Onboarding Specialists also set up title companies to start using Post at no additional cost.
Request a demo and learn more about how Qualia Post can help you to reduce post-closing costs, streamline your mortgage operations, and improve compliance.