Timios Inc., a national title insurance and settlement services company, develops the first 100 percent RESPA-compliant online good faith estimate (GFE) calculator. With the new GFE and HUD-1 requirements now in place for 2010, Timios comes to market with the only real-time GFE calculator that meets the new disclosure and tolerance levels set in place by the federal government to protect consumers. The industry has been struggling to deal with the challenges the new RESPA regulations pose. Timios has reacted quickly to the changing marketplace by introducing a new online solution that allows lenders to quickly and easily enter loan information, instantly displaying an accurate fee quote.
“During testing, the feedback we received highlighted the ease of use of the application. Our customers acknowledged that our new instant rate calculator works more efficiently than existing integrated solutions,” said Len Splane, executive vice president. “Which is a testament to the speed, accuracy and simplicity we were trying to achieve with this solution.”
Timios has expanded its operation to cover 38 states and is currently servicing several top regional and national lenders. With more than 50 years of combined experience in the industry, the executive team has surrounded itself with the best in the business to bring advanced technology and customer service to title and settlement services. Utilizing an online, paperless system allows customers to access important files and documents instantly, anytime day or night. This, combined with a commitment to superior service, makes Timios a leader in the title insurance industry.
“We saw the need in the marketplace for an instant rate calculator that would meet the new RESPA requirements,” said Trevor Stoffer, president and CEO. “We wanted to make quoting title insurance, settlement fees and applicable government fees an easy and painless experience for lenders, brokers and consumers. With our commitment to exceptional customer service and technology, this solution was a must for our clients and the industry.”
Timios has been meeting the needs of its customers since day one with advanced technology and uncompromising service to ensure the fastest and most accurate closing transactions. “With the additional requirements imposed on lenders in 2010, LSI will be requiring greater assistance from its vendors. RESPA now requires lenders to provide all borrowers with a list of approved service providers. We have asked all vendors to provide quick and secure access to closing cost information (title fees, recording fees, etc) along with a guarantee of these cost estimates. The team at Timios was extremely responsive in meeting our needs and has made this transition smooth, going above and beyond to meet our needs and comply with the new requirements,” said Shannon Hesbon, Compliance Manager, LSI Mortgage Plus. “LSI is pleased to announce that it has reached an agreement with Timios to be a preferred provider for title services.”
The new GFE calculator is available now by visiting www.timiosinc.com/gfe-quote.
For more information, visit www.timiosinc.com.
