Prairie Title, along with title and settlement companies across the country, implemented new processes to help consumers complete their real estate and mortgage transactions in the midst of the pandemic and stay-at-home orders.
At Prairie Title, we adapted our closing practices virtually immediately once the stay-at-home order went into effect in Illinois. As the crisis began unfolding we also faced obstacles in trying to get transactions closed in the face of a groundswell of refinances that began to arise in mid-winter. We altered how we close in the office and shifted our business model to include:
- Curbside closings at homes or at our offices
- Continued partnering with lenders for complete e-closings including e-notarizations
As Diane Tomb, ALTA’s chief executive officer put it, speaking for the industry as a whole: “Protecting consumers remains the title insurance industry’s top priority. From drive-thru closings to offering remote online notarization, the dedication to their customers is allowing families to close on new homes or take advantage of the low interest rates by refinancing their mortgages.”
