Automated title producer reaches milestone NextAce reports it has processed 500,000 automated title orders with its TitleEdge platform, saving its customers nearly $22 million since production began in 2005. (10/12/2007) Title automation and business process optimization company, NextAce announced it has reached a major milestone when it processed the company's 500,000 automated title order on it's TitleEDGE platform. The company estimates this achievement represents nearly $22 million in savings to its customers since TitleEDGE production began in 2005."
Reaching this milestone is a great accomplishment for our company, and a testament to our customers," said NextAce CEO Don Cantral. "Since the announcement of our first 50,000 title orders processed in August 2005, it has taken us just 26 months to reach half a million. This volume of orders demonstrates the acceptance by the title market of the value we provide in the form of speed, quality and consistency."."
TitleEDGE utilizes technology to complete an automated search and preliminary examination on a wide variety of title and foreclosure products in an average of five minutes. These results including the chain of title, general or name index, taxes, maps, and other items are then reviewed by a qualified title professional and delivered to title company customers in as little as 15 minutes. After a review by the title company, the completed title product can be delivered to their customers in as little as one hour."."
Using TitleEDGE allows many of our operations to reduce local production costs and significantly improve delivery times to customers, giving us a competitive advantage over title companies that have not embraced these types of automation enabled solutions," said Randy Quirk, co-president of Fidelity National Financial.."
First implemented in California, TitleEDGE is now utilized by four of the top five national underwriters with services provided in 136 counties in nine states including Arizona, California, Florida, Hawaii, Nevada, New York, Ohio, Texas and Washington. TitleEDGE services include resale and refinance preliminary title reports and commitments, legal and vesting reports, owners and encumbrance reports and limited coverage policies, as well as real estate owned and mortgage default products.."
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