LSI's Automated Title Examination System Reaches Milestone
April 4, 2002
PITTSBURGH--(BUSINESS WIRE)-- LSI announced that its Automated Title Examination system, a component of the Automated Title Order Management System (ATOMS) had reached a volume milestone. The Automated Title Examination system (ATE) has processed more than 100,000 title insurance orders.
"The ATE system is unique. We know of no other automated system that examines title and produces commitments using a rules based approach," stated John A. Fries, Product Line Director for Settlement Services. According to Fries, the ATE system allowed LSI to handle the huge surge of orders experienced in the refi boom in 2001. "We still need our human examiners, but with ATE achieving its design throughput of 55% of the orders going through without human intervention, we were able to handle the volume without having to find and hire additional examiners."