TitleBox Releases Tool to Speed Title Clearing Process
September 8, 2021
Philadelphia-based TitleBox has released a product that offers instant assessment of searches designed to help title agents clear title more efficiently while maintaining control of the decisioning process.
TitleBox 2.0 is a stand-along artificial intelligence product, which was derived from the company’s existing offering, a managed services package delivering end-to-end title clearance.
The technology reviews incoming title searches and commitments, producing an assessment of the results that identifies any clouds on title and pairs relevant, location-specific underwriting rules and guidelines with those issues. The decision-making process is left to the title agent. Where necessary, TitleBox 2.0 also delivers specific resolutions. All of this is generated upon receipt of the title search and integrated into an agent’s existing workflow.
Matt Einheber, founder and CEO of TitleBox, said the title clearing process relies almost entirely on training and retaining employees, who manually review title reports and manually go about clearing any title issues. Because the process and its requirements can vary from county to county or even city to city, the overall operation can be slow and costly.
“Title clearance is among the most manual, labor-intensive processes in the entire real estate industry and causes headaches for title agents everywhere from a time and cost perspective,” Einheber said. “By rearranging a title search into an easy-to-read format, instantly identifying material issues and pairing them with instructional content specific to the underwriting rules and guidance specific to the location of the property, TitleBox 2.0 speeds and automates an important element of the process.”
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