Real estate closings go wireless
August 25, 2005
Chicago Title launches pilot for wireless remote closings
In a move that aims to make real estate closings more timely and easier to complete, Chicago Title has launched a pilot program that enables real estate title businesses to conduct closings at a remote site, such as a lender's, developer's or agent's office.
Chicago Title, a subsidiary of Fidelity National Financial, announced the pilot launch Thursday.
"The Wireless Remote Closing solution allows us to mobilize closings so we can service our customers wherever they are, or wherever they need their closings to take place," said Randy Quirk, president of FNF, which oversees the five Fidelity National Financial title brands, including Chicago Title. "There are so many changes that occur at closings — this solution enables the closing agent to access and modify data from any location and at a minimal cost."
To conduct Wireless Remote Closings, title personnel need a laptop, a wireless modem card and a desktop printer customized to print checks securely and safely. Special software can be downloaded that enables users to securely connect to the Chicago Title network and access its production system.
From there, users can open and print all of the necessary closing documents in real-time, make last-minute changes and print MICR-encoded checks at the remote site. Title operations can also use the tool to perform mass closings at an off-site location.
Sandra Nunez, Manager of Illinois Technology Services for Chicago Title, cited the current status of the pilot program, "Currently, three Chicago Title offices are utilizing the service, and the positive feedback is pouring in. Additional offices are lining up for deployment, and we expect to see an exponential increase in facilities using Wireless Remote Closing by the end of this year."
Copyright 2005 Inman News