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New Community: (M3) Title Milestone

Ana - PLR Product Ops avatar
Written by Ana - PLR Product Ops
Updated over a week ago

The New Community Program title verification (M3) Milestone was created in the spirit of flexibility, as a homeowner appearing on title for a new build can be a delayed process.

When does title need to be run?

Title can be run at anytime during the Milestone process (M0, M1, M2, M3).

A rejection for title prior to the M3 Milestone will not halt or prevent the project from moving forward to the next milestone

Title must be run by M3 to complete and close out the Milestone Requirements Process for the LightReach New Community Program.

What type of documentation is accepted for New Community title?

All homeowners must complete title verification. A homeowner may be prompted to upload title verification documents through their web portal

Acceptable documents:

  • Closing Documents on the home

  • Original deed or deed of trust

  • Most recent tax property bill

  • Mortgage statement less than 60 days old

Where can I complete Title verification?

Homeowner can upload title verification documents through their web portal

Sales representatives can upload it in the finance portal under "Title Verification"

Property Ownership Overview

A

Ownership Parameters & Property Types

In general: Single family, fully-owned homes (residential). This is inclusive of:

  • Primary residence

  • Secondary residence

  • Investment/rental properties (No more than 3 active applications per client at any given time)

  • Multi Family (must be fully owned)

Corporations & Trusts:

  • C-Corp / S-Corp acceptable, but corp. officer must reside at property and be signatory on contract (other docs may be required)

  • Trusts and LLC acceptable if homeowner on title is also a trustee or the controlling member.

B

Eligible Properties

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