RynohLive Surpasses Company Milestones

February 24, 2015

RynohLive announced it has protected more than two million closings with its patented escrow and financial management system. 

“For the past 7 years, RynohLive has enabled its clients to identify and prevent check, wire, ACH and cyber fraud, and embezzlement, as well as employee/ bank errors,” said Dick Reass, CEO and founder of RynohLive. “In addition,eight agencies are in business today as a direct result of having RynohLive to protect and monitor their escrow accounts. Clients utilizing RynohLive truly understand the necessity of daily reconciliation and proactive escrow account management. Surpassing the two millionth closing is certainly cause for celebration at RynohLive.

Additionally, RynohLive has now processed and protected more than a half of a trillion dollars since its market introduction.  Client growth and adoption rate has been exponential over the past few years, and RynohLive is on pace to post significant gains in the number of closings, new clients, and funds protected.

Pillar No. 2 of ALTA’s Best Practices recommends that agents adopt and maintain appropriate written procedures and controls for escrow trust accounts, allowing for electronic verification of reconciliations. RynohLive’s patented solution enables agents to verify their reconciliation electronically and comply with Pillar No. 2. An automated positive pay interface, daily three-way reconciliation and underwriter oversight are also provided with the solution. 

“RynohLive delivers the transparency of financial transactions as mandated by Dodd-Frank Legislation, and provides the tools that uncover the hidden land mines in escrow accounts,” Reass added. “You only see the tip of the escrow iceberg, but with Rynoh, you have the tools to see 100 percent of escrow activity, and that’s the true power behind RynohLive.

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