Title Agency Gets High Praise from Underwriters for Proprietary Technology, Internal Controls
April 20, 2010
TitleVest, a Manhattan-based provider of title insurance and related real estate services received recognition from its underwriters for having robust technology and having strong internal controls to mitigate errors.
According to Jim Shannon, Agency Services Representative for Stewart Title Insurance Co., “TitleVest is one of the most technologically advanced and reliable agents we have.”
Marianne Mathieu, AVP/Agency Representative for Chicago Title Insurance Co., said the underwriter is continually impressed by the efficiency and accuracy of TitleVest’s processes.
“They consistently rank amongst the top title insurance agencies that we audit,” she said. “They have developed a process which harnesses the best of their proprietary technology and their team’s expertise to effectively meet their clients’ needs and we are pleased to have them representing Chicago Title Insurance Co.”
Robert J. Farina, New York State Auditor, Old Republic National Title Insurance Co., said TitleVest’s systems ensure all critical closing and post closing functions are handled efficiently and accurately.
“The professionalism and pursuit of perfection demonstrated by the team at Titlevest are second to none. We are pleased to have them representing Old Republic National Title Insurance Co.,” Farina said.
Working with its developers, TitleVest designed a robust tracking system that not only ensures that every document and escrow is submitted for recording and payment in a timely manner, but also confirms that every document is in fact recorded and every escrow payment received by the intended recipient.
For example, TitleVest’s ACRIStracker automatically tracks the recordation of every document on New York City’s ACRIS website and alerts TitleVest’s clients whenever a document involved in their transaction, such as a deed or mortgage, is recorded, along with a link to the recorded document.
“While developing and maintaining iron-clad internal controls is not the most exciting or marketable aspect of our business, nothing is more important,” says David Palmer, TitleVest’s chief financial officer who is also a certified public accountant. “Not only does it thrill our auditors, but it is in our clients’ long term best interests to work with a title company that handles the critical post-closing functions with the utmost care and attention. “