TransContinental Title will Use GATORS Technology to Establish Connections with Mortgage Origination Systems and Industry Networks
June 18, 2002
PITTSBURGH, /PRNewswire/ -- General American Corporation, GAC, technology solutions providers to the real estate settlement services industry announced that TransContinental Title will widely adopt its GATORS technology in connecting with value added networks and loan origination systems (VAN and LOS).
"With GATORS technology, customers that will be serviced include banks, lenders, mortgage brokers and other title insurance companies," said Frank Skryd, senior vice president of TransContinental Title. "We are confident in our ability to now connect with more industry networks and customer origination systems with the proven linkage that GATORS has imbedded in its technology," said Skryd.
Value added networks are able to connect title insurance and other settlement service providers and their customers. Mortgage lenders that automate applications and products received from settlement service vendors use loan origination systems. Many in the real estate services segment say this current technology infrastructure is leading to more interactive commerce between vendors and customers, and that will eventually lead to electronic mortgage fulfillment. "We think GATORS can get us to an all electronic transaction faster than what else is currently in the market," added Skryd.
"We're very pleased that TransContinental Title will be implementing GATORS for use in its connectivity initiatives," said Rich Snedden, president of GAC. "Through this arrangement we anticipate TransContinental staying in front of industry change; and we expect a very smooth implementation and transition since we are familiar with their current systems," added Snedden.
Source: General American Corporation