How Title Production Software Integration Can Be a Game Changer For Your Title Agencyby Punctual Abstract
In any real estate transaction, the role of the title and escrow agency, or real estate attorney, is to confirm that a person or entity selling a property has the legal right and claim to actually sell the property to the buyer. While that goal has remained unchanged since the first real property ever changed hands, the methods by which title insurance companies and attorneys attain the abstract, the legal history of a property, and document it for the mutual benefit of the buyers and sellers, the methodology by which that process occurs has dramatically changed—and improved—with updates in technology.
Today, what was once done exclusively in-person and by hand is now a technology-driven process, even if your agency or legal firm operates in a state with limited online resources.
Title searches, and the resulting real estate abstracts, still offer a detailed history of a property to ensure the chain of title. But how that abstract, that written life story of a property, is delivered is now predominantly a digital function. As a title insurance professional, your agency or law firm likely utilizes some kind of title production system and software to convert abstracts and ancillary document searches into the forms and background materials that support the buyer/seller relationship at the closing table.
Why Use Closing Software
There are a myriad of software platforms available for title and escrow operations to digitally process files. Among the leading software companies that specialize in title production are:
Each of these software platforms offers a variety of benefits for title companies and law firms. For example, Qualia promotes its software’s ability to manage and edit multiple workflows, assign tasks to individuals or groups based on contingencies, and stay on top of accounting. RamQuest promotes its ability to customize title production and policy production for title and escrow companies or law firms of any size.
Title software helps automate the closing process. Depending on the program you choose, it can generate settlement documents, manage tasks, and track deadlines.
No matter which software you choose for your firm, the goal is to process title data efficiently, quickly, and easily in a way that saves your staff time and saves you money.
What is Title Software Integration
Most of the leading software platforms offer integrations with third-party partners. The integration means that the software and the partner (generally a data provider such as Punctual Abstract) work together to deliver the information your company needs to populate fields within the software to create closing documents.
Integration, then, is designed to allow your staff to determine what kind of information is needed for a file and from within the software environment, source a partner, order the information, communicate with the partner, and receive the data back. Punctual Abstract, staffed by licensed title producers, delivers title abstracts and ancillary documentation, and cooperates with the software companies to deliver your agency’s requested information already inserted into the fields needed for closing document preparation. What that means is when a partner like Punctual Abstract “integrates” with Qualia, Resware, SoftPro RamQuest, or other software platforms, title agencies like yours no longer have to re-key data. The abstract and ancillary documents are inserted into the fields and screens where they’re needed.
The implications of no-rekeying are immense. Two of the biggest benefits are:
- Time Savings: Instantly populated fields equate to countless hours not spent re-typing vendor-provided data
- Fewer Errors: No re-keying means fewer typos end up in the finished documents
Why Punctual Abstract
According to the 2022 State of the Title Industry Report Recap by PropLogix, 77% of all title companies outsource their title searches. If your firm is still doing your searches in-house, especially in a down economy and without closing software, you’re leaving money on the table.
In the past 30 years, Punctual Abstract has searched title data and produced millions of abstracts for title agencies and law firms nationwide. Our property data integrates with Qualia, SoftPro, Resware, RamQuest, and Landtech. Our in-house IT department also develops custom integrations for specialty closing software programs.
Our integration capabilities are just the beginning. What really sets Punctual Abstract apart is our local knowledge in key markets staffed by licensed title producers. Dedicated to systems and data integrity, we are SOC-1 and SOC-2-Certified.
Based in Louisiana, Punctual Abstract has a presence in every parish in the state utilizing technology and boots-on-the-ground services in every single courthouse in the state Similarly, Punctual Abstract employs a network of searchers around the United States. Our goal is to act as an extension of your operation, allowing you to focus on closing files and serving customers rather than chasing data.
To learn more, call 800-588-0046, visit our website at PunctualAbstract.com, or email us at firstname.lastname@example.org