First American buying B of A mortgage lien release business

First American Acquires Bank of America’s Lien Release Business. in Headlines, journal, News, Servicing February 4, 2018 577 Views

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First American Announces Agreement to Acquire Bank of America’s Lien Release Business Operations and Assets. The transaction is expected to close in the first quarter of 2018. Once the sale is complete, Bank of America’s lien release business and its employees will become part of First American’s Mortgage Solutions division, a leading provider of comprehensive solutions for residential lenders and servicers covering the entire loan spectrum.

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Contact the Lender For Lien Release. Your lender should send you a copy of the lien release document within 30 days of loan payoff. In some states, lenders may have up to 90 days to send it. Most states have enacted time-frame laws for lenders. However, a lender may take longer.

First American Financial Corp. has announced that it will acquire Bank of America’s lien release business, which includes an agreement to provide these services to Bank of America. The transaction is expected to close in the first quarter of 2018, and the bank’s lien business employees will become part of First American’s Mortgage Solutions division.

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We recently received a correspondence from Title Source, Inc., addressed to Bank of America, N.A. I WHAT THIS MEANS This letter is to confirm that the loan was fully satisfied on December 26, 2013. Our reconveyance department prepares the documents needed to release the lien on the home, once a loan is paid off.