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eEscrow and eTitle, are products designed to link the Title and Escrow Offices to the end customer. By providing real-time information that is accurate and easy to access, Title and Escrow companies can gain the competitive edge in a very challenging marketplace. eEscrow Feature Summary eEscrow
is
a software suite that allows automatic interchange of information between the
escrow office and real estate brokers, and others who may have the requirement
to open escrow orders and/or exchange information with the escrow office. The
software is designed to operate without the need of a Wide Area Network (WAN)
connection between the user and the escrow
office. Furthermore, direct dialup connections to the escrow office are
not required. eEscrow and eTitle
make an unbeatable team for customer service. eEscrow
has two components, one
resides at the client’s office and the other one resides at the escrow office.
At the client’s location, escrow
orders can be opened, tracked, cancelled and escrow and title
documents can be printed in
a secure format. At the escrow office, the orders arrive automatically and are
opened without manual intervention. The
typical flow of an order is as follows: The order is opened at the client location, by supplying buyer’s (borrower) and seller’s names, property address, estimated closing date, any loans information available and any comments regarding the processing of the order. All
transactions are time stamped and are assigned a transaction number for
tracking. At periodic intervals set by the client, which can be any time period including immediately, information on new orders will be transmitted to the escrow office via any ISP (Internet Service Provider), Wide Area network (WAN) or Local Area Network (LAN), whichever is available. Within a few seconds, The order will arrive at the escrow office and be captured by the Server side of the system, where it will be processed immediately, by updating the local database, assigning an escrow number automatically, creating and printing a take sheet with all indicative information, for processing and notifying the client with a return receipt and a confirmed escrow order number. When
“Legal” and “Vesting” information is available, it can be sent
automatically to the client. As
an option, periodic automatic status reports can be sent to the client
indicating at what step of the processing the order is (Tracking). Status
reports regarding a closing can also be requested by the client
and are forwarded automatically by eEscrow
24 hours a day 7 days a week. Escrow
documents, forms and Preliminary Reports can be sent to the client in a secure
format using ADOBE Acrobat, so the documents can be viewed and printed, but not
altered. This can be accomplished directly from eEscrow, or can be requested by the customer via eEscrow
services. For
customers with large number of transaction
per day such as mortgage companies, who have loan processing systems, an option
is available to produce a “Batch File” in a format such as Microsoft Excel
or plain text, which can be automatically recognized by eEscrow
and imported and transmitted to
the escrow office. Legal and Vesting information can be returned to the customer
in a similar fashion. Both
the client side and the server side of eEscrow
will produce statistical
reports to track orders processed and timing information. The
client side of eEscrow is capable of preparing and printing real estate related
forms such as the CAR form as well as generating form letters etc. All of these functions are performed, without having to access the internet directly or having to log on to a web page, which can be slow and distracting. The
capabilities provided by eEscrow
are designed to improve
customer relations by having a direct link to the escrow office, eliminating
“phone tag” and faxes, turning around information faster and under their
control and therefore, improving their competitive position in the marketplace.
To the escrow office, there are significant labor savings and control features
that will help streamline the escrow operation as a whole. eTitle Feature SummaryeTITLE is
a software suite that allows automatic interchange of information between the
title office and it’s customers and escrow branches. The software is designed
to operate without the need of a Wide Area Network (WAN) connection between the
customer and the title office. Furthermore, direct dialup connections to the
title office are not required. eTITLE has two components, one resides at the customer’s office and the other one resides at the title office. At the customer’s location, title orders can be opened, tracked, cancelled and Preliminary Reports and Policies can be printed in a secure format. At the title office, the orders arrive automatically and are opened without manual intervention. The typical flow of an order is
as follows: The order is opened at the customer location, by supplying buyer’s and seller’s names, property address, AP Number if available, how many copies of CC&R’s are needed and any comments regarding the processing of the order, such as “RUSH”. All transactions are time stamped and are assigned a transaction number for tracking. At periodic intervals set by the customer, which can be any time period including immediately, information on new orders will be transmitted to the title office via any ISP (Internet Service Provider), Wide Area network (WAN) or Local Area Network (LAN), whichever is available. Within a few seconds, The order will arrive at the title office and be captured by the Server side of the system, where it will be processed immediately, by updating the local database, assigning an order number automatically, creating and printing a manifold with all indicative information, forwarding a copy to the plant for processing and notifying the customer with a return receipt and a confirmed title order number. When “Legal” and “Vesting” information is
available, it can be sent automatically to the customer. As a title office option, periodic automatic status reports can be sent to the customer indicating at what step of the processing the order is (Tracking). The Preliminary Reports and Policies can be sent to the customer in a secure format using ADOBE Acrobat, so the documents can be viewed and printed, but not altered. This can be accomplished directly from AMI’s Title System, or can be requested by the customer via eTITLE services. Pricing
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