HOUSTON, TX (Oct. 5, 2004) - REI Data Inc. has released AutoExam™, an automated title search application that generates preliminary title reports for escrow and title companies and attorneys. AutoExam's innovative technology can dramatically reduce the amount of labor and time required for title examination and report preparation.
Across southern California, AutoExam has already begun to make a difference. "Although AutoExam guarantees a one-hour turnaround time, we receive a majority of our reports in less than 30 minutes, and a number of our reports in less than 10 minutes," said Nick Pappas, president, Stewart Title of California - Los Angeles Division. "The fast turnaround times coupled with Stewart's title expertise have helped us grow our business with fast, dependable quality-based service."
AutoExam delivers preliminary title reports in electronic formats. The search results include document images and quality assurance notes. AutoExam can integrate simply and effectively with other escrow and closing products and systems.
REI Data President Max Harris explained how AutoExam provides such fast and accurate results.
"AutoExam's cutting-edge technology is supported by NextAce Corporation's TitleEdge application," said Harris. "REI Data's approach is for our team of title and real estate information experts to work closely with title agents to provide them a customized solution. We base this on their individual needs, current processes and technology. We can facilitate database access, manage integration with production systems as well as define the rules to fit a wide array of preliminary title report customer needs."
"We also offer personal and online training to help users understand the customization we've developed and the underwriting rules AutoExam follows," said Harris. "People generally hesitate to rely solely on technology tools for title reports, and our customers appreciate the relationship and support of our title experts."
AutoExam use is quickly growing throughout California and will expand into other markets soon.
About REI Data
REI Data provides real estate information - data and images - crucial throughout the real estate transaction process. REI Data serves title agents, lenders, real estate professionals - and their respective customers - with products and services such as: online title searches and analysis, aerial imagery, tax status records, document images, title plant searches, tax assessment, flood determinations, MLS services, document preparation, and more. REI Data is a subsidiary of Stewart Information Services Corp. (NYSE-STC).
Stewart Information Services Corp. is a technology driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services through more than 7,800 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records, property ownership mapping and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at http://www.stewart.com/.