NEXTACE Adds 27 New Counties in Four States and WAshington D.C.
Expanded Partnership with NAZCA Drives Growth
ANAHEIM HILLS, Calif. — April 11, 2008 — Title automation and business process optimization (BPO) company, NextAceSM Corporation (www.nextace.com), today announced that it has expanded production to include 19 new counties in Maryland, Michigan, Ohio and Washington DC through its technology partnership with NAZCA Solutions, Inc. (www.nazcainc.com). NAZCA provides a technology solution for title production in many of these counties where traditional title plants do not exist. In addition, NextAce announced that it has expanded production into eight additional counties in the San Antonio and Corpus Christi, Texas markets.
Ted Mondale, CEO of NAZCA Solutions said, “NextAce’s TitleEDGETM automation is a perfect fit for this partnership, because we provide them real-time access to public county and other government entities and private databases through our Virtual Title Plant, which eliminates the need for abstractors or courthouse visits.”
Access to an assortment of data ranging from recorded documents and indexes, court, and tax records is vital to title automation. NAZCA’s Virtual Title Plant allows NextAce’s title customers to extract, integrate and deliver title commitments in counties that until now required dealing separately with a variety of disparate county offices and systems. “NextAce’s title industry customers will now have access to a level of automated title commitment reporting previously deemed too timely and cost-prohibitive to pursue in these non-title plant areas”, said Don Cantral, CEO of NextAce.
Cantral continues, “NextAce will continue to seek out partnerships with providers such as NAZCA that extend the reach of automation serving the title insurance, mortgage, and real estate industries.”
TitleEDGE utilizes technology to complete an automated search and preliminary examination on a wide variety of title and foreclosure products in an average of five minutes. These results including the chain of title, general or name index, taxes, maps, and other items are then reviewed by a qualified title professional and delivered to title company customers in as little as 15 minutes. After a review by the title company, the completed title product can be delivered to their customers in as little as one hour.
First implemented in California, TitleEDGE is now utilized by four of the top five national underwriters with services provided in 155 counties in 11 states including Arizona, California, Florida, Hawaii, Maryland, Michigan, Nevada, New York, Ohio, Texas, and Washington. TitleEDGE services include Resale and Refinance Preliminary Title Reports and Commitments, Legal & Vesting (L&V) reports, Owners & Encumbrance (O&E) reports, and Limited Coverage Policies (LCP), as well as Trustee’s Sale Guarantee (TSG), Real Estate Owned (REO) and Mortgage Default (Foreclosure) products.
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 title reports and commitments and is used by title companies servicing 155 counties in 11 states. Additional information on NextAce can be found at www.nextace.com.
About NAZCA Solutions
NAZCA Solutions is a privately held software services company servicing the property settlement services industry. NAZCA’s Virtual Title Plant went into full production in December of 2006. Today NAZCA covers over 40 counties in 8 states and is bringing 4 new counties into production each month.