Skip to main content

Orion Financial to Begin Offering Streamlined Settlement Services

NationalMortgageProfessional.com
Feb 20, 2013

Orion Financial Group Inc. has announced that it is now providing streamlined settlement services to investors. The new offering provides a one-stop, efficient solution for small- to medium-size investors, including those who are selling real estate-owned (REO) properties. “We are coordinating and scheduling settlement services for small to medium investors,” said Mike Wileman, Orion’s president and CEO. “We have partnered with Lenders Title Solutions to provide title and closing services nationwide, so we save our clients time and money,” Wileman explained. Investors can opt to contract Orion for title commitments only, and then expand the service to title policies along with closing services." Orion’s settlement services offering is just one of several new solutions the company will be introducing in 2013, Wileman added. Since its inception in 1993, Orion has grown significantly in terms of its business and revenues. In the last five years alone, Orion has seen a 170 percent increase in the number of transactions it performs. In addition, the company’s client base has tripled since 2008, he said. “Investors often need to do a title search, and subsequently obtain a title policy. They’re working with different companies at different times. By turning these functions over to Orion, investors save themselves time and frustration,” Wileman said. “They won’t need to work on building their own national database of title and closing providers because we already have access to a national network.” A title commitment is more in-depth than a current owner search, and can also be converted into a title policy, while a current owner search cannot, Wileman noted. “We still offer current owner searches for our clients, but this product is more in depth for investors who may be looking to sell their assets. By ordering a title commitment on a pool of loans, investors are able to quickly see what liens are against the properties, and they can make a more informed decision on which assets they purchase,” he said. If the investor then decides to sell the assets, Orion converts the commitment to a title policy, and begins to move the loans through closing services. This includes obtaining the signed real estate contract, closing instructions, and providing the HUD-1 form to all parties for review. Orion will also notify all parties of the scheduled closing time and location.
Published
Feb 20, 2013
What Are The Biggest Deal-Breakers For Homebuyers?

The housing market is holding strong but that doesn't mean homebuyers don't have their fair share of deal-breakers when it comes to purchasing a home.

Analysis and Data
Jan 20, 2022
Popular Bank Names National Director Of Residential Lending

Popular Bank named Adam Dejak as its national director of residential lending for Popular Mortgage.

Industry News
Jan 20, 2022
Total Expert Appoints Gaydos As President

Former Talkdesk and SAP senior executive brings extensive cloud, go-to-market, sales, and operations experience.

Industry News
Jan 20, 2022
Sagent Appoints Thompson As Chief Product Officer

Founder of fintech managment consulting firm Consigliera will lead and expand product development.

Industry News
Jan 20, 2022
400 Mortgage Loan Originators Caught Trying To Skip School

400 mortgage loan originators nationwide deceptively claimed to have completed their annual continuing education as required by state and federal law.

Industry News
Jan 19, 2022
Infamous Better.com CEO Is Back And Employees Are Upset

After a month-long hiatus or “break” as Garg likes to call it, the CEO is back at the helm of the company.

Industry News
Jan 19, 2022