Rate Launches EnTitled Pilot to Cut Refinance Closing Costs

Mortgage refinancing replaces an existing loan, prompting lenders to recheck ownership records and typically require a new lender’s title insurance policy against liens or other defects. Homeowners generally pay that closing cost even though the policy protects the lender, not the borrower. Automating title-risk reviews could therefore eliminate an often sizable fee and accelerate closings while testing whether low-risk refinances can meet underwriting standards without traditional coverage.

Chicago-based fintech lender Rate launched its EnTitled pilot on May 27, 2026, using data and automated analysis to assess title risk during refinancing. Rate said eligible low-risk loans may proceed without a lender’s title insurance policy, saving borrowers more than $2,000 and as much as $2,500 at closing. The initiative follows the direction of Fannie Mae’s Title Acceptance pilot, which began on Nov. 19, 2024, for selected refinance loans and uses automated reviews to determine when separate title verification can be waived.