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Granite Risk Management and Premium Title have announced the launch of a new construction title platform for residential and commercial construction lenders, CTPro. CTPro is powered by Premium Title and built to make order placement, delivery and status tracking faster and easier. CTPro streamlines highly fragmented processes and can help to reduce costs.
Combining Premium Title’s platform with Granite’s construction expertise the CTPro platform provides clients with a single, centralized destination for all construction title and settlement work nationwide. CTPro also delivers automated notifications for every step of the process, enhancing responsiveness to requests and enabling clients to receive title reports within three business days after order placement.
Granite honors its industry-standard quoted fees with no additional costs for pre-starts. The platform can also help reduce associated fees by issuing blanket title coverage at the loan closing, which helps to eliminate the costly draw endorsement fees typically required during the disbursement process. This standardized pricing can also minimize potential disclosure complications.
“Today’s complicated construction title process, which can include draw endorsements, indemnifications and/or title controlled disbursements, is a result of the challenging borrowing environment that came out of the recession,” said Richard W. Nirk, senior vice president of the Granite Risk Management business. “The construction industry is strong and in need of a new, simplified and efficient approach. In combining Granite’s expertise in the market with Premium Title’s platform through CTPro, we are able to deliver an effective new product intended to meet the needs of clients in today’s market.”