New Platform Provides Access to Industry Vendors
November 8, 2011
Some of the title industry’s most notable brands have partnered up with a unique new group to service independent title agents of all sizes.
The Abstract Solution has created a platform consisting of such companies as Rynohlive, Simplifile, Redvision, Titlehound, Greenfolders, ReQuire, Turbodeed to name a few as well as an assortment of regional banks. The group exists to assist and benefit the agent-side of the title insurance business.
“We solve several of the problems that are plaguing title agents today”, said Matt Einheber, co-founder of The Abstract Solution, “in just the past few years, a new model for running a title agency has emerged.”
Co-founder Marc Shaw explained, “hand reconciling accounts once a month, sending recording to each county via mail, storing and working with paper files ... many agents don’t yet realize that running a title company this way today is like making phone calls with a cup and a string.”
“The underwriter terrain is changing rapidly and so are regulations and we recognize that there may be too much changing at once...most title agents that we’ve spoken with aren’t aware that there are much better, faster and cheaper ways to do so many day to day things.”
The Abstract Solution provides title agencies with access to vendors that are relevant and vital in the industry on one platform and offers these services at a discount and in some cases at no-cost to the title agency. Vendors like Redvision and a growing network of regional banks cover some of the most basic functions like searches and banking, while newer and more sophisticated tools are introduced from companies like RynohLive, Titlehound, Greenfolders and Simplifile.
“It doesn’t cost a title agency anything to sign up with The Abstract Solution and if even one or two of our vendors are utilized, it could easily mean extra monthly profits in the thousands. It is literally a zero-risk proposition,” Einheber said. “In the end, a member of The Abstract Solution Group will be a more efficient, risk adverse and most importantly a more profitable title company.”