American Financial Resources Inc. / AFR Mortgage Announces Timios Inc. has been Selected as the Exclusive Settlement Agent for all Residential Mortgages
PARSIPPANY, N.J., March 29 /PRNewswire/ -- 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.
"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, CEO. "In addition, this partnership brings multiple benefits for our customers doing business with us. 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."
Last year, American Financial Resources closed $1.4 billion in loan volume.
About American Financial Resources, Inc.
Established in 1998, American Financial Resources Inc. (AFR) is a privately owned mortgage banker headquartered in Parsippany, New Jersey. The company is a HUD Direct Endorsement FHA lender, Fannie Mae approved seller/servicer and GinnieMae Issuer. AFR is approved to do business nationwide and is currently one of the top 25 largest FHA lenders in the country. The company operates as three divisions, Residential Mortgages, Wholesale, and Correspondent Lending.
For more information about the company visit their websites at: www.afrmortgage.com www.afrwholesale.com and www.afrcorrespondent.com
About Timios Inc.
Timios Inc. is a nationwide provider of title insurance and settlement services. Timios utilizes a centralized processing and fulfillment model with one company-wide operating system. Combined with direct integrations with its lender customers, this model ensures fast, accurate processing in a paperless environment which yields superior customer service.
SOURCE American Financial Resources, Inc.
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