NextAce Expands to Hawaii, Nevada and Ohio With Production Now in Nine States; Additional States Also in Development
NextAce Title Automation is Used by Four of the Top Five National Underwriters
ANAHEIM HILLS, Calif., August 28, 2007 - Title automation and business process optimization (BPO) company, NextAce(SM) (http://www.nextace.com), announced today that use of the Company's TitleEDGE(SM) service has expanded to major metropolitan areas in Hawaii, Nevada, and Ohio. TitleEDGE is now being utilized by four of the top five national underwriters in nine states and 136 counties across the country, with new integrations already underway in additional counties and states.
The TitleEDGE service utilizes automation to deliver completed preliminary reports and commitments to its title company customers in as little as 15 minutes, giving them the ability to deliver product to their customers in as little as one hour. Title companies using TitleEDGE automation now spend only minutes on a process that typically takes 48 hours to five days.
One of the first adopter's of TitleEDGE in these new markets is Fidelity National Title Agency of Nevada. According to their Vice President, Brian Bowers, "TitleEDGE reduces turn-time on our commitments by almost 80 percent, and that gives us a distinct selling advantage in a highly competitive market. With this business process our title officers now have valuable time to focus on quality control because they are not producing the title commitment themselves. The result is faster settlements and a more consistent product." Bowers continues, "Our associated production costs are also significantly reduced, but in the end it comes down to the real benefit, which is faster application-to-close turn-times for our lenders."
NextAce CEO Don Cantral stated, "We are pleased to expand into these new markets because it allows us to better serve our national customers. They tell us that in addition to reducing their production costs, using TitleEDGE gives them a significant competitive advantage over their competitors who continue to use outdated methods for producing title reports and commitments."
NextAce Corporation is a privately held technology company that provides business process optimization services primarily to the title insurance and mortgage lender industries. Its TitleEDGE process was established in 2003 to assist title companies in streamlining the production of preliminary title reports and commitments and is used by title companies servicing 136 counties in nine states. Additional information on NextAce can be found at http://www.nextace.com.
(C) 2007 NextAce Corporation. NextAce and TitleEDGE are service marks of NextAce Corporation in the United States and other countries. All other brand and product names are trademarks or registered trademarks of their respective companies.