New Lender Title Insurance Waiver Program Launched

​Newrez, a top five mortgage originator and servicer, has launched Newrez TitlePass within its wholesale channel. Newrez reports that its TitlePass is currently offered in 18 states: Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Minnesota, New Jersey, Nevada, Ohio, Pennsylvania, Tennessee, Texas, and Virginia.

Title Pass is being promoted as giving mortgage brokers a new way to accelerate timelines and help eligible refinance borrowers potentially save hundreds to thousands of dollars in closing costs. It is offered exclusively via Newrez’s affiliated title company, Avenue 365®/Avenue Title Agency. Avenue 365’s Lender Services Coverage Map on its website shows California as a “workshare” state rather than a “direct” state. 

TitlePass is available for eligible conventional rate and term refinance products with up to an 80% loan to value (LTV) with an automated underwriting system (AUS) approval. Newrez states that Avenue 365 is fully integrated with its operating platform. 
More information is available at:  https://www.newrezwholesale.com/knowledge-hub/newrez-titlepass/.