Stewart Announces National Release of SureClose Transaction Management Service

November 4, 2002

HOUSTON, /PRNewswire-FirstCall/ -- Stewart Title Co has announced the national release of its SureClose transaction management service.

Following a two-year development period and a successful beta test, Stewart now has installed 78 active SureClose locations nationwide, and recently introduced an enhanced consumer interface. Stewart will deploy SureClose nationwide to its affiliated title offices and selected independent agents, taking the real estate transaction process to the Internet.

Transaction management allows all parties to a real estate transaction -- sellers or refinance customers, buyers, real estate agents and brokers, builders, lenders, title agents and other settlement service providers -- access to the transaction through a secure, password-protected Web site.

"Our goal with SureClose is to provide consumers, real estate professionals, lenders and all the parties to the real estate transaction 24x7 access to the status and documents of their transaction as it progresses," said Stewart Morris Jr., president, Stewart Title Co. and president and co- chief executive officer, Stewart Information Services Corp.

"SureClose becomes the place on the Internet where parties to a transaction can conveniently be updated, and review their documents before closing," said Morris. "This is a great advance in the real estate transaction process. We are committed to making SureClose our primary method of delivery and communication of our products and services."

Stewart Title Services of Indiana found that SureClose has helped them give better service during the recent refinancing boom brought on by low mortgage interest rates. "We are aiding lenders in streamlining processes for their customers," said Steve Hargrove, chief executive officer, Stewart Title Services of Indiana. "One example -- rather than faxing closing instructions and conditions back and forth, SureClose allows the loan processor to view the requested conditions online and e-mail us the appropriate information for loan approvals and funding."

In addition, Carla Rezabek, sales and listing agent at Carpenter GMAC Real Estate in Indianapolis said, "I list approximately 150 homes a year. I use Stewart Title for closings exclusively when these listings sell. Time is very crucial to me. Stewart Title's product SureClose provides valuable closing information any time I need it. It enables me to provide top of the line service to my clients and to all parties to a transaction."

Source: Stewart Information Services Corp.

Contact ALTA at 202-296-3671 or [email protected].