Chancellor Reverse Division
Offering full service title and settlement services in New Jersey, New York, Pennsylvania, Maryland, Washington D.C., Florida and Virginia. Chancellor's Reverse Division is focused on servicing the reverse mortgage industry.
Our dedicated team of professionals offers the experience and knowledge to smoothly close reverse transactions. Having already closed thousands of reverse mortgage loans, Chancellor understands the importance of comprehending all HUD and lender guidelines. As your dedicated business partner, Chancellor can assist you by offering a wide range of services including online order entry, title insurance calculators for preparing GFE’s. Please take a few moments to browse our website and learn how Chancellor can be a partner in your success.
Reasons to use Chancellor
Our team offers the following advantages:
- The experience of closing thousands of reverse mortgage transactions
- Title and settlement division dedicated to reverse mortgages
- Customer service department with reverse mortgage specific resources
- Online access to place title orders and get GFE fee quotes
- Expert and seasoned reverse mortgage notary network
- Intimate knowledge of the Tri-State service area
- Reverse mortgage education/training
- Trust, Power of Attorney and Conservatorship reviews
- Extensive knowledge of the reverse mortgage industry
- Member of NRMLA
Reverse Mortgage Closing Specialists
Chancellor is a member of National Reverse Mortgage Lender's Association (NRMLA) and our staff members are currently completing the requirements to become Certified Reverse Mortgage Professionals (CRMP). We are familiar with guidelines governing reverse mortgage loans, and, therefore, are proactive in ensuring that title to the property is consistent with relevant guidelines. Our closing agents and signing agents are well-versed and trained in reverse mortgages. Chancellor recognizes that seniors need special care and goes above and beyond to make the process convenient and uncomplicated. Furthermore, we utilize vetted signing agents so you can be sure your borrower is in safe hands. A process that is the norm for us, and soon to be adopted as an industry best practice.
What is Settlement?
Buying, selling and refinancing real estate usually involves the transfer of large sums of money. It is imperative that a neutral third party, such as Chancellor handles the transfer of funds and related documents from one party to another in a real estate transaction. The Settlement company impartially carries out the written instructions given by the lender. It is essential that all conditions are met, including receiving funds and documents necessary to comply with those instructions, completing or obtaining required forms, and handling final delivery and disbursement to the proper parties upon the successful completion of settlement. Scheduling a closing with Chancellor is a simple streamlined process. You can schedule your closing via email or with a simple phone call. The scheduling department at Chancellor will contact the borrower to confirm the closing date and time, as well as address any questions that the borrower may have. The borrower will be provided with our contact information, as well as a direct phone number for an on-call team member. By implementing this on-call system, Chancellor has decreased closing table fall-outs and delayed fundings exponentially for our partners
What is Title Insurance?
Title insurance is a unique type of insurance that ensures that the land being purchased or refinanced is clear of any previous liens or encumbrances. This secures title in the new borrower's name, and protects the new lender(s) from unknown liens on the property as well. A Lender's policy and an owner's policy of title insurance can be issued concurrently, but it is important to know that they are separate policies. Our premium policies for title insurance can protect a borrower from the following:
- False impersonation of the true owner of the property
- Forged deeds, releases or wills
- Undisclosed or missing heirs
- Instruments executed under invalid or expired power of attorney
- Mistakes in recording legal documents
- Misinterpretations of wills
- Deeds by persons of unsound mind
- Deeds by minors
- Deeds by persons supposedly single, but in fact married
- Liens for unpaid estate, inheritance, income or gift taxes
Chancellor is a long time member of the National Reverse Mortgage Lenders Association(NRMLA) and is proud to stand behind their code of ethics.