Published on May 13, 2021
Written by The Servion Group
During recent quality control reviews, we have noticed several instances of partners using the generic label “Title Service” on the Settlement Service Providers List. We would like to take this time to inform you that this generic term does not satisfy the regulatory requirements outlined in Regulation Z.
The services the borrower is permitted to shop for, including the title services, must match or be listed like they are on the Loan Estimate. That means that the service must have the word “Title” listed before it, followed by the service they can shop for. Here are two examples of proper usage:
If you would like further guidance on completing the form, you may refer to the Consumer Financial Protection Bureau’s sample model form. You can also contact your Servion team. Thank you for your attention to this matter and thank you for your continued trust in Servion Mortgage!