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Titan Lenders Corp. has been founded on the principle that mortgage lenders should
aggressively focus on their front-end profit generator – origination, rather than attempt Our outsource fulfillment and mortgage consulting services include: We won’t sacrifice Quality for Volume - EVER. Contact us to learn more |
Domestic Outsourcing for the Mortgage Industry
Community Bank Lending Services |
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NEW! How to Make the Broker to Banker Transition Attention all Community Bankers - Start your year off right by attending one of Titan Lenders Corp.'s educational Broker to Banker Webinar! We have launched a webinar series specific to community banks considering the advantages of transitioning from mortgage lending as a broker to mortgage banker. The webinars take place bi-monthly on Tuesdays. Sign up here for our next session! "There truly has never been a more ideal time for community banks and credit unions to improve their balance sheets and competitive position by becoming mortgage bankers." - Bill Null, Titan Lenders Corp. Director of Business Development The Strength of Community Banking One of the hottest trends in banking is the attraction of the small community bank. As consumers seek out financial service partnerships that are more customized and personal, small community banks are seeing foot traffic and deposits soar. While long time participants in consumer finance, such as personal and auto loans, many community banks are making the transition to residential mortgage finance. The obvious benefits of customer retention and customer service are key; however, the additional fee income is attractive in its own right. Our community bank clients come in many sizes and models: New to the Game: As a small community bank considering the risks of residential mortgage lending, it is important to recognize the value of leveraging a partnership with Titan. With a vast knowledge of the industry from the salability viewpoint, Titan is very aware of the risk mitigation concerns of our depository partners. The community bank is able to use Titan’s reps and warrants to insulate their depositors from risk. At the same time, there is added value in no concurrent hiring, training, benefit or technology costs associated with establishing a new mortgage lending platform. Growing: A number of our community bank partners are growing faster than their infrastructure can handle. In addition, this growth is often across state lines requiring knowledge of “wet” and “dry” states, escrow review or attorney states, to name a few. These regional concerns can be alleviated with the broad spectrum of Titan expertise, allowing the bank to focus on growth and origination. A common argument: be a master of origination and customer service; let Titan master the paperwork. Cutting Costs: Many community banks find the transition to mortgage lending expensive. Retooling a workforce to handle the specific requirements of mortgage loans with insuring deadlines and locks can be expensive and daunting. Hiring and training a separate group to handle processing, funding, closing and post-closing residential mortgage loans, with the contingent costs of support, management, training and benefits, can deter a community bank from even participating. In addition, escrow loss, re-recording, expired locks and costs associated with failure to cure salability issues can stack up – making the entire mortgage lending proposition unprofitable. When you adopt the Titan proposition, we manage all of the overhead and employment costs and stand behind our work with a “if it is our error, we will fix it or pay for it.” With decades of experience and a strong E&O position, we are confident in our ability to meet and exceed customer expectations of quality, compliant and risk averse mortgage loans. Methods of Participating Depository-based lending: Most secondary transactions have a sales cycle of approximately 2-3 weeks. With the current low rate of funds available to banking institutions, our community bank partners find that they are not only making origination and SRP income at the time of closing and sale, but also net out a margin income from per diem interest collected on the loan while awaiting sale. Warehouse Line Lending: Some of our community bank partners choose to firewall the risk by opting to use a warehouse line to fund residential mortgage loans. Table-Funding: Titan manages relationship with regional and national lenders that will allow the loans to close in the name of the community bank, but these loans are funded by the actual investor. All risk of delay of sale in the secondary is transferred to the actual lender. FHA Products: While the community bank will require a HUD approval to participate in FHA loans, there are a number of great reasons to make that transition. Emerging Markets: Many community banks are the sole source of financial services for a number of underserved “emerging” markets, such as African American and Hispanic borrowers. The ability to offer a “safe” and trusted environment for these borrowers will engender unprecedented customer loyalty. Fair Credit Reporting Act (FCRA): Both HECM and emerging market loans originated through FHA are given credit under the FCRA. Titan will perform the processing, the underwriting submission, closing, post-closing and FHA insuring on behalf of the bank.
Learn more about our MAP - Mortgage Access Program - for Credit Unions:
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