Canyon Title Co., based in Denver, is a full service title and escrow company servicing 42 states with anytime, anywhere closings. Canyon was recently told by their underwriter, Alliant National Title Insurance Co., that they have superior audits compared to the rest of the state of Colorado.
Robert Lindley, owner of Canyon Title, attributed the processes adopted by his associates to attain this status of audits in Colorado. Their operations run on ResWare, a paperless production system that allows for a seamless customer interface.
“This process is credited to the implementation of workflow management and other controls within ResWare, including automated calculation of rates per underwriter and streamlined collection payoff collateral.”
“The rate calculations reduced errors to within 0.5 percent, which is significant by today’s standards,” Lindley said. “Automated rate tables populate the HUD based on state, coverage, and underwriter, reducing not only time but also errors.”
The payoff collateral includes essential milestones and accurate documentation. ResWare creates an action to order the payoffs as well as an action to receive the payoffs. Rounding out the process is the curative tab, where associates upload appropriate, approved documentation and check off each curative task.
“The entire procedure reinforces best practices for our customers and is aided by automation,” added Bryan Buus, president of Adeptive Software.
Adeptive is known primarily in the title industry for its product ResWare, which is a process flow software package that can be scaled and customized for any size operation. Used by many of the industry’s leading companies, ResWare ensures that transactions are accurate and efficient, and that employees are executing the same way every time, reducing missing information, lost productivity, and costly errors.