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A Third Party Settlement Service provider is a party other than the lender or broker that provides services as per the instructions of the lender. The services include title search, produce settlement statements and obtain signatures from the parties involved in a transaction, disburse funds and records the deed at the county court house for a fee.
Settlement services can include the provision of title, closing and all other services related to a mortgage related transaction, including first and second mortgage loans, escrow or search related services, home equity lines of credit and other home equity loans.
Related Topics: What is "Third party providers"?
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