American Financial Resources/AFR Mortgage selects Timios as exclusive settlement agent
American Financial Resources Inc., a nationwide mortgage lender, has selected Timios Inc., as their exclusive agent to conduct closings and escrow services for all residential mortgages where permitted by state and local laws. Last year, American Financial Resources closed $1.4 billion in loan volume. "The selection of Timios Inc. as our exclusive settlement agent strengthens our position to ensure the integrity and full compliance with each and every loan transaction," said Richard Dubnoff, Chief executive officer of American Financial Resources. "In addition, this partnership brings multiple benefits for our customers doing business with us," said Dubnoff. "For our wholesale mortgage brokers, it means lower costs and better service. Borrowers will no longer have to cover escrow service fees as AFR will pick up the cost at closing. Brokers will no longer need a Closing Protection Letter and E&O insurance. Brokers will also receive instant order confirmation, be given a dedicated closing specialist, and they will have same day disbursement of escrow. Brokers, borrowers, realtors, or sellers may continue to select the title insurance company of their choice. In the event they choose Timios as their title agent, we have negotiated reduced pricing where allowed by state and local laws." For more information, visit www.afrwholesale.com or www.timiosinc.com.