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Lenders First Choice, a title and settlement services company here, recently celebrated its first anniversary of operations. Its president, Bill Moody, met with National Mortgage News in New York to discuss the growth the company has seen in its brief period in business.
Lenders First Choice is part of the Mercury Cos., Mr. Moody said, pointing out that while the parent has other title operations, it previously did not have one that specialized in "lender-directed business," a unit that was able to process title orders the way the lender wanted it done. The company was built around technology and process management. Paper files are not created until Lenders First receives recordable documents. Commitments are e-mailed, faxed and/ or posted online.
Furthermore, when an order is opened, Lenders First sends the lender a preliminary HUD statement with a complete list of its fees, and...