New Vista Solutions Celebrates the One-Year Anniversary of FastTrack — a Bundled Mortgage Settlement Product That Can Cut Lenders’ Closing Costs in Ha
AUSTIN, Texas, February 4, 2021 — In March, 2020, New Vista Solutions (NVS) unveiled FastTrack, a revolutionary mortgage settlement product that significantly reduces closing costs and accelerates the loan approval process for refinance and home equity lenders. As the one-year anniversary of the product launch approaches, New Vista is pleased with the robust response from the lending community.
“Our lender customers were looking for ways to cut costs and accelerate processing time so they could stay competitive in this active refinance and home equity lending environment”, said Jesse Rivera, CEO at NVS. “It looks like we hit a home run with this product.”
FastTrack is a bundle of settlement services that can be customized to fit each lender’s specific needs. The individual products within the bundle are designed to expedite the underwriting process while maintaining compliance with Interagency Guidelines — and, in many cases, cutting the cost of traditional settlement products and services by as much as 70%.
Lenders can choose from a variety of products when customizing the FastTrack bundle. Flood determinations, residential evaluations (with an optional warranty), hybrid appraisals (USPAP compliant) and warranted title searches are some of the options. Recordation can be added to title searches and a warranty can be included on both (FastTrack TSR).
One of the most popular products offered in the bundle is an automated employment, income and asset verification — a big time saver. Home equity lenders can also add a Property Condition Report (PCR) and a Mortgage Loan Report.
Gary Kasper, President at NVS, stated, “The pandemic seemed to create a demand for home improvement and cash-out refinance loans, making that market very competitive. We think the launch of our FastTrack product was timely and brought a valuable solution to the mortgage lending community.”
About New Vista Solutions
New Vista Solutions is a full-service vendor management company for residential and commercial mortgage lenders, offering a suite of compliant, technology-driven settlement services products through a national network of best-in-class service providers. The convenience of ordering multiple settlement products on a single technology platform with a dedicated customer service department reduces costs and turn-around times for mortgage lenders. For more information, visit NewVistaSolutions.com