DataTrace Adds Title Plants, Expands Starter Policy Library
October 15, 2024
DataTrace unveiled several enhancements to its products and services, including significant geographic title plant expansion, major advancements to its Starter Xchange program, and new features within its TitleFlex property data platform and TitleIQ title production platform.
“By harnessing the power of artificial intelligence, automation and advanced machine learning, DataTrace has demonstrated our commitment to providing title companies, underwriters and real estate professionals with the most comprehensive and accurate data solutions available,” said Robert Karraa, president of DataTrace. “Combined with our industry-leading data assets, these capabilities fuel the continued expansion of our geographic title plant footprint, enhance our Starter Xchange program, and empower clients with automation tools designed to support business growth and improve title search and examination efficiency.”
New Digital Title Plants and Geographic Expansion
In 2024, DataTrace expanded its digital title plant footprint, launching 19 new geographically indexed plants in Oregon, Colorado and Texas with historic depth exceeding 50 years. The company now operates more than 1,800 title plants. In addition to continued geographic expansion, DataTrace has significantly deepened the historical data coverage and increased the document image availability for nearly 2,000 counties this year.
Starter Xchange Program with Expanded Title Starter Policy Libraries
DataTrace's Starter Xchange program, which offers title and settlement companies access to starter policies from leading underwriters, has been enhanced with the integration of artificial intelligence (AI) and machine learning technologies. Advanced algorithms now help streamline the extraction and analysis of starter policy content, enhancing the precision, efficiency and reliability of title search results. DataTrace’s Starter Xchange program currently offers over 32 million available starter policies that can be added chronologically into the title chain through the DataTrace System platform. In Cook County, Ill., for example, the starter policy library has been expanded by more than one million starter policies this year.
Enhancements to Property Data and Title Production Platforms
DataTrace’s TitleFlex property data platform now features advanced search and automated list-building capabilities enabling title companies to generate more effective prospecting lists of property owners with a high propensity to buy or sell real estate. The company’s TitleIQ title production platform leverages AI and machine learning to streamline and quickly standardize title search results uploaded from third-party vendors, regardless of source or vendor, so the title search results are easily accessible within the platform’s examination module. Additional updates include enhancements to the tax data, document hyperlinking and workflow processing within TitleIQ Enterprise.
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