Denver-based Title Company Touts ‘Superior’ Audits
February 19, 2013
Canyon Title Co., based in Denver, reported it was recently told by its underwriter, Alliant National Title Insurance Co., that it has superior audits compared to the rest of the state of Colorado.
Robert Lindley, owner of Canyon Title, attributed the “superior” audit status to the company’s production system, which is provided by ResWare.
"This process is credited to the implementation of workflow management and other controls within ResWare, including automated calculation of rates per underwriter and streamlined collection payoff collateral,” Lindley said. "The rate calculations reduced errors to within .5 percent, which is significant by today's standards."
Automated rate tables populate the HUD based on state, coverage, and underwriter, reducing not only time but also errors.
The payoff collateral includes essential milestones and accurate documentation. ResWare creates an action to order the payoff(s) as well as an action to receive the payoff(s). Rounding out the process is the curative tab, where associates upload appropriate, approved documentation and check off each curative task.
"The entire procedure reinforces best practices for our customers and is aided by automation," added Bryan Buus, president of Adeptive Software, which is the provider of ResWare.
Contact ALTA at 202-296-3671 or communications@alta.org.