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Licensing ALTA BEST PRACTICE #1 - Establish and maintain current license(s) as required to conduct the business of title insurance and settlement services.
Can ResWare™ Help? By utilizing the ResWare system, you can track your minimum licensing and Bond requirements and attach the current licensing document copies, by state. This will allow clear access to the document copies you’ve attached for employees you designate.
To find out more call 608-850-5170, visit www.windwardrevolution.com or schedule a demo at www.getareswaredemo.com.
For more information contact: Curt Szymanski,
President
Call: 608-850-5170
Visit: http://www.getareswaredemo.com
Escrow Trust Accounting ALTA BEST PRACTICE #2 - Safeguarding client funds — escrow accounts
Can ResWare™ Help?
Employee segregation of duties
The ResWare system allows a business to specify a separation of permissions for banking duties. Printing checks, approving wires, and directing disbursements are examples of permissions that can be designated to different employees within the system, allowing the business to directly control the duties each employee can accomplish and be certain users cannot perform functions outside of their assigned duties. ResWare also allows a business to separate duties based on accounts or ledgers.
Reducing Employee Errors
With banking integrations, a business can reduce employee “key” errors. By pushing the outgoing bank transactions from the system directly to the bank it removes the possible input errors that may occur when an employee is required to type the data into the banking system independently of ResWare.
Account Maintenance
ResWare produces the export for positive pay on your escrow accounts for the bank and provides reporting for trial balance reviews as well as daily reconciliation of receipts and disbursements at any time, with real-time data. All settlement account reconciliations are completed within the system as three-way reconciliations and all completed reconciliation reports are stored electronically within the system for the life of the account. Reconciliation reports include a trial balance and all entries cleared within the statement period as well as outstanding check reports for review. All underlined items are individual reports that can be run by clicking on the link.
To find out more call 608-850-5170, visit www.windwardrevolution.com or schedule a demo at www.getareswaredemo.com.
For more information contact: Curt Szymanski,
President
Call: 608-850-5170
Visit: http://www.getareswaredemo.com
Protecting NPI ALTA BEST PRACTICE #3 - Adopt and maintain a written privacy and information security program to safeguard non-public personal information
Can ResWare™ Help?
ResWare was designed to assist a company to work efficiently from within a paperless environment. It’s been effectively used in conjunction with a paper environment also, making it a powerful resource for a company to use the system in a way that’s best for them. ResWare makes it easy for a company to transition from paper to paperless with options for uploading documents quickly and transmission of those documents securely.
Employee Communication
A company can safely store all company procedures from within the ResWare system, providing employees with the ability to refer to those documents when necessary, in one central location. Storing those procedures within the system also provides a quick, easy solution for a company to update those procedures when necessary to keep employees current and up-to-date with changes in procedure.
Disaster Management
The ResWare software can be housed within a “cloud” environment. This environment has shown to be a great option for companies as a secure environment, but also provides a good solution for recovery of your business should a disaster occur. This environment allows for secure access to the software from almost any location should the business temporarily have to relocate or suffer a loss to its own technology environment.
Secure Document Delivery Methods
ResWare contains options for delivering documents securely. By providing a secure web platform, your clients and business partners may obtain documents as well as deliver sensitive documents to your company without additional encryption required.
When a partner receives notification, they can easily and simply log into the branded web-based, Transaction Management System (TMS) ResWare website to pick up documents. The website should also be used for secure delivery of sensitive documents to your company from an outside source. By logging into the website, the user can upload documents directly into your system using a HTTPS secure platform to do so.
To find out more call 608-850-5170, visit www.windwardrevolution.com or schedule a demo at www.getareswaredemo.com.
For more information contact: Curt Szymanski,
President
Call: 608-850-5170
Visit: http://www.getareswaredemo.com
Settlement Processes ALTA BEST PRACTICE #4 - Standard procedures for settlement practices: Recording and pricing procedures
Can ResWare™ Help?
One of the key functions of ResWare is to assist with tracking and capturing data for events that the company deems to be critical. Detailed tracking of the entire recording process can occur, including capturing turn times, rejections and number of times rejection occurred, rejection reasons, rejection re-submissions timing, and detailed recording identifiers provided by the recording clerk including copies of the recorded documents. This data can be pulled at any time with accurate real-time live data providing management with a “current snapshot state” of the process whenever required.
Another ResWare feature helpful with compliance is the ability for the company to program all company fees, including title premiums, remittance splits, and reissue or discount rates and apply those fees as prescribed by the company to all files consistently and accurately. Once input and tested, the system will apply the rate rules as programmed into all files. This automation reduces employee error through misinterpretation of calculations or just keystroke errors providing a high level of reliability to a company for consistent and accurate pricing for all transactions.
Direct Integrations
ResWare provides a number of direct integrations with third party providers to assist with data collection and containment per file.
One of these integrations is for title premium pricing. If the company does not wish to setup the title premium rates within the system an integration with a third party provider allows for that data to be obtained and populated directly into the file based on the business-selected pricing by underwriter.
In addition to title premium pricing by product, ResWare also contains direct integrations with reliable companies that specialize in national recording costs by jurisdiction. This integration includes current mailing information for the recording clerk, contact information, and also includes up-to-date jurisdictional information for recording requirements for documents directly within your file.
The electronic recording process has also been directly integrated into ResWare, allowing users to send documents for recording directly to a third-party provider from within the system. This reduces errors while also increasing the speed at which documents are submitted for recording.
To find out more call 608-850-5170, visit www.windwardrevolution.com or schedule a demo at www.getareswaredemo.com.
For more information contact: Curt Szymanski,
President
Call: 608-850-5170
Visit: http://www.getareswaredemo.com
Policy Production ALTA BEST PRACTICE #5 - Adopt and maintain written procedures related to title policy production, delivery, reporting, and premium remittance
Can ResWare™ Help?
When a policy is issued from within ResWare correctly, the system will automatically capture the detailed data including the date of issuance of the policy. That information is retained within the file, is searchable, and can be included in regular reporting as needed in real-time.
Upon issuance of the policy, delivery of the policy can be completed electronically and securely where appropriate, directly from the file. ResWare also adds the detailed policy data required to the remittance report including the amount due for that transaction to the underwriter. That report can be previewed as often as necessary to confirm accuracy. The company can easily export the report for delivery and the payment can be prepared from within the system.
Remittance report data is retained in ResWare and can be re-generated at any future point in time when needed. Once issued, the payment detail is auto-populated into each file including the details of the payment, check number, and check amount.
Direct Integrations with Underwriters
ResWare provides direct integrations with a number of industry underwriter partners, which includes Closing Protection Letters (CPL or ICL). Once a request for a CPL is sent to the underwriter from the ResWare file, the CPL will be delivered into the file directly from the underwriter.
To find out more call 608-850-5170, visit www.windwardrevolution.com or schedule a demo at www.getareswaredemo.com.
For more information contact: Curt Szymanski,
President
Call: 608-850-5170
Visit: http://www.getareswaredemo.com
Insurance Coverage ALTA BEST PRACTICE #6 - Maintain appropriate professional liability insurance and fidelity coverage
Can ResWare™ Help?
ResWare can serve as your central location for storing company documents like your insurance declaration pages. By attaching these documents to your company’s partner screen in ResWare, it essentially stores them in each file. Users have file level access to all proof of insurance documentation when necessary to provide it in response when an appropriate request is received.
Management can also easily access the documents to maintain them as necessary, adding new replacement pages when expiration is near as well as removing the expired copy once it’s truly expired. Maintenance for these documents is easy when they are always stored in one location.
To find out more call 608-850-5170, visit www.windwardrevolution.com or schedule a demo at www.getareswaredemo.com.
For more information contact: Curt Szymanski,
President
Call: 608-850-5170
Visit: http://www.getareswaredemo.com
Consumer Complaints ALTA BEST PRACTICE #7 - Adopt and maintain written procedures for resolving consumer complaints
Can ResWare™ Help?
The ResWare system contains a module for the company to use, if desired, to track all consumer complaints in one central location. Complaints can be automatically uploaded if set up with a unique email address for this purpose. Upon receipt of a complaint that is uploaded via email, ResWare assigns the complaint a unique identifier and notifies the appropriate personnel of receipt. The issue tracker can then be used to document and store all complaints. It’s easy to use and specific permissions are placed to ensure all employees can open an issue, however only designated personnel can edit and close any complaint.
ResWare provides your team with a window to customer service items company-wide. It also provides ability for tracking and reporting for management using this valuable data.
You may create an email address that can be utilized and documented on all client communications directing them to send any service-related email communications to this address (example: [email protected]). The emails sent to that address will automatically upload into issue tracker without intervention, opening an identifiable numbered issue and ensuring the capture of important service communications for all clients.
To find out more call 608-850-5170, visit www.windwardrevolution.com or schedule a demo at www.getareswaredemo.com.
For more information contact: Curt Szymanski,
President
Call: 608-850-5170
Visit: http://www.getareswaredemo.com
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