Quality Title Insurance for Metro Detroit Lenders
Every loan needs a strong foundation, and that starts with the right lender’s title insurance. Lender’s title insurance protects the mortgage itself, helping shield lenders against ownership disputes, liens, or title defects that could surface after closing. As a trusted lender’s title company, Title One provides dependable title insurance for lenders along with the title services needed to keep deals on track.
With more than 30 years of experience working with local banks and lending institutions, we understand how policies differ and why accuracy matters at every step. Our team knows the requirements for both new loans and refinances and brings that knowledge into every transaction we handle. When lenders need a title partner that moves fast, communicates clearly, and gets it right the first time, we’re ready to help.
Call us or stop by one of our three office locations to get started.
Benefits of Partnering With a Title Company as a Lender
Partnering with a title company, like Title One, offers many benefits to banks and other lenders. To learn how this partnership can benefit both you and your borrowers, call or visit one of our three Metro Detroit office locations today.
Lender's Title Insurance Vs Owner's Title Insurance
Lender’s title insurance and owner’s title insurance serve different purposes, even though both relate to the same property. Lender’s title insurance protects the mortgage lender against financial loss caused by title defects, liens, or ownership disputes that existed before closing. This policy is usually required by the lender and remains in effect for as long as the lender has a financial interest in the property, typically until the loan is paid off.
Owner’s title insurance protects the buyer’s ownership rights in the property. Unlike a lender’s coverage, an owner’s policy is optional but strongly recommended, as it safeguards the homeowner against covered title issues for as long as they or their heirs own the property. While a lender’s title insurance protects the loan, an owner’s title insurance protects the property owner’s investment, making the two policies complementary rather than interchangeable.
Answering Lenders’ FAQs About Title Services
Title One has partnered with countless banks and other lenders in the Metro Detroit area over the past 30 years. To help them better serve their borrowers, we answer their questions and provide other support as needed.
Lender’s title insurance protects the lender’s financial interest in a property by covering losses tied to title defects, liens, or ownership disputes that existed before the loan closed. This type of policy is required for most mortgages and is designed to protect the loan itself, not the borrower’s personal ownership rights.
Because a lender’s title insurance only covers the lender, borrowers typically purchase a separate owner’s title policy for their own protection. Our team helps make sure both policies are handled correctly so coverage aligns with loan requirements and closing timelines.
Yes, title insurance is available for refinancing transactions. Refinancing requires a new lender’s title insurance policy to confirm that the title remains clear and that the lender’s interest is properly protected under the new loan terms.
Our refinancing title insurance process supports common lender requirements and helps avoid delays during closing. We work closely with lenders to review title status, clear any issues, and issue the correct coverage for the updated mortgage.
A lender’s title insurance policy remains in effect for as long as the lender has a financial interest in the property. In most cases, this means the policy stays active until the mortgage is paid in full or otherwise satisfied.
Certain circumstances can affect coverage duration, such as loan modifications or transfers. Our team is happy to review your specific situation and explain how coverage applies throughout the life of the loan.
In most real estate transactions, the borrower pays for the lender’s title insurance policy as part of the closing costs. This is because the policy protects the lender’s financial interest in the property and is typically required to complete the loan.
Who pays can vary based on local customs, contract terms, or lender requirements. In some cases, the cost may be negotiated between the buyer and seller. Our team can explain how lenders’ title insurance fees are handled in your specific transaction and help ensure everything is properly documented at closing.
A mortgage lender requires a title search to review public records and confirm that the property has a clear ownership history before approving a loan. This process helps identify liens, claims, or errors that could affect the loan amount, purchase price, or the lender’s ability to secure the mortgage properly.
Title insurance protects the lender against financial loss tied to covered title issues discovered after closing. By working with a trusted title insurance company and purchasing the appropriate types of title insurance, lenders gain peace of mind knowing their investment is protected throughout the life of the loan.
We Support Lenders & Borrowers!
As a lender in the Metro Detroit area, you want to provide the best service possible to your borrowers. We, at Title One, can help you do just that. To learn how, contact us today!
Partner With Us Today
If you’re a banker or other lender in the Metro Detroit area, consider partnering with Title One. We can help you better serve your borrowers. To learn more about this partnership, contact us by completing the form below. We will get back to you as soon as possible.