RamQuest Reports 32 Straight Quarters of Profitability
|August 27, 2009|
RamQuest Inc., a provider of solutions to the land title industry, announced that the second quarter of 2009 marked the company’s 32nd consecutive quarter of profitability. Despite recent economic conditions, RamQuest, a privately held company, continues to operate with positive operating cash flow and no debt.
RamQuest attributed its success, in part, to a company-wide commitment to understanding current industry issues and trends and complementing that understanding with development of industry-leading business solutions and technology offerings.
First to market with a number of innovative tools for the settlement services industry, such as enabling business-to-business communication with its Closing Market digital network, RamQuest further solidified its position as an industry leader and innovator with its announcement late last year that it would be investing more in research and development in 2009 than any other time in company history.
“We’ve all been witness to the impact that this volatile market has had on companies in our industry including large-scale down-sizing and bankruptcies,” said Mark McElroy, RamQuest president and chief executive officer. “It is a privilege for RamQuest to serve as a cornerstone in our industry – providing a solid business partner for our customers to count on day in and day out, relying on us in good times and bad.”
“RamQuest will continue to enhance our position as a leader in our industry,” said Steven Terry, chief operating officer at RamQuest. “RamQuest’s initiative to give back to the industry in the form of the development and launch of the RESPAready.com community forum is just one example.”
CCE is the foundation for RamQuest’s production solution and provides title companies with a comprehensive set of tools for managing the title insurance process, including order processing, commitment policy, escrow accounting and HUD generation.
RamQuest’s Closing Market network enables title companies to electronically connect to brokers, lenders, service providers, underwriters and other title companies making it easier to do business and eliminate costs by containing the process to a single electronic system and significantly reducing cycle time from order receipt to completion. Rounding out RamQuest's solution for the title industry are PaperlessCloser, the company's transaction management software; and FileScan Plus, RamQuest's document imaging and management solution.