GreenStone strives to provide excellent, high-quality service, while creating a pleasant experience for our borrowers. One way GreenStone has been doing this is by identifying the appropriate business partners in the marketplace which includes select title companies to work with for our members' real estate loan transactions.
Title Insurance is a vital component as it provides protection to both the buyer and lender, which is exactly why GreenStone has chosen to work with a select number of title companies for our member’s transactions. After thoroughly examining public records to ensure the buyer has legal access to and ownership of the land, the title company issues the title insurance policy. Title insurance protects against potential defects and unknown risks that could arise after the buyer has purchased the property. Title companies can issue both owner’s and lender’s policies: the owner’s policy protects the owner’s interest in the property, and similarly, the lender’s policy protects the lender’s interest in the property.
GreenStone maintains close relationships with each selected title company and is able to closely monitor the service provided to our borrowers and staff. Each title company must pass cyber security and compliance requirements, as well as agree to uphold title insurance standards set by GreenStone.
In 2019, GreenStone formed a joint venture with ATA National Title Group to create FCS Title Agency to streamline the loan process while providing high quality service and contributing to the financial return to our members. Title insurance is centralized within FCS Title Agency to help ensure a smooth, consistent, and efficient process. ATA National Title Group offices assist in closing the loans and performing settlement services, making it convenient for our customers as there are over 25 locations throughout Michigan.
By utilizing this joint venture, GreenStone customers see instantaneous savings in lower closing costs. In addition, GreenStone can give back more to our customers in the form of Patronage as a result of this joint venture being used, as opposed to paying an outside title company for these services.
GreenStone encourages all our members to use FCS Title for their next real estate transaction in order to benefit from the partnership GreenStone has established to support our members. GreenStone continues to evaluate the title service process to ensure we provide top-tier service. We value our borrowers’ opinions, and encourage you to provide feedback to your financial services officer or local branch!
To view the article in the online 2024 Winter Partners Magazine, click here.
