NextDeal Helps Agents Securely Send Documents, Wire Instructions
April 20, 2017
NextDeal announced that its preDOCS technology is now available to title and settlement service agencies to securely send and receive opening packages to buyers and sellers.
The system guides consumers through the completion of documents, and provides for the ability of an e-signature. Completed opening package documents and data are able to be securely and uploaded to most software files.
“Until now the title industry has relied primarily upon email to send and receive wire instructions. Because of the overwhelming wire fraud occurring in the industry, we saw a need to protect this process by providing a very secure system for wire instructions and legitimate subsequent changes to bank account and other information,” said Robert Reich, CEO of NextDeal.
According to Reich, preDOCS automates the electronic delivery of opening packages for review, completion and e-signature by both buyers and sellers. An audit trail is available so users can track when the documents are received and opened with time-stamped information.
Decreasing the time and effort to obtain mission critical pre-closing information from all sources is a key to the system’s functionality.
“Our customers are seeing initial results showing nearly 40 percent of consumers successfully transmitting their completed documents and data to their escrow agent within 48 hour of file opening,” added Reich.
NextDeal has created a homebuyer and seller interface unique to the title industry. Reich said this negates the need for consumers to navigate their way through mapped PDF fields on complicated forms. The interface guides the consumer through questions whose answers are then populated in the settlement agent’s forms. Any non-notary document can be included in preDOCS including disclosures and privacy statements reducing the time spent at closing.
“This may be the end of pre-closing handwritten forms sent by regular mail, fax or email to the settlement agent,” Reich said.
Contact ALTA at 202-296-3671 or communications@alta.org.