Best Practices Provider Directory

Contact:

Glen Stout

Phone:

877-467-9664

Address:

397 Little Neck Road

Address2:

3300S-306

City:

Virginia Beach

State:

VA

Zip:

23452

Website:

http://www.rynoh.com

Company Description:

RynohLive is the “Industry Standard” for proactive escrow account management, daily three way reconciliation and auditing, while providing the financial transparency mandated by Dodd-Frank Legislation and the CFPB. RynohLive is ALTA Best Practices Number Two. Since being introduced nationally in February 2009, RynohLive has: identified escrow theft; wire and ACH fraud; prevented cyber fraud; stopped employee embezzlements; eliminated check fraud, disbursing errors and saved its clients tens of millions of dollars. Eight agencies are only business today because they had RynohLive in place to protect them. Universally endorsed, recommended or mandated by Title Insurance Underwriters nationwide; RynohLive is a necessity, not a luxury. Every business day, RynohLive conducts an automated 3-way reconciliation and end-to-end auditing of escrow accounts. At the same time, RynohLive works around the clock to identify errors, potential fraud, and audit issues to minimize your exposure to loss. Our clients rest easier knowing that RynohLive is on the job protecting them via daily management reports and email alerts when errors or potentially fraudulent activity is suspected. RynohLive is a bridge application that seamlessly integrates with your settlement software and financial institution. There is no need to change your internal disbursing procedures – and using RynohLive to manage your escrow accounts will save you time, money…and possibly your business! Learn more at www.rynoh.com

Escrow Trust Accounting

RynohLive's patented solution enables settlement agents and attorney clients to fully meet ALTA's Best Practices Pillar No. 2, which states: “Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts, allowing for electronic verification of reconciliation.” Electronic verification systems compare items through electronic means to ensure the validity of the item/ document being submitted for review or analysis and ensures that the underlying data held by the bank and accounting system support the reconciliation results. RynohLive provides automatic and daily three-way escrow account reconciliation, as well as electronic verification of reconciliation and electronic access for your underwriters. In addition, we offer an automated Positive Pay interface with your bank (or a standalone solution if Positive Pay is not offered by the bank). To further assist the agent/ attorney there is both: a) “Reconciliation Wizard” that identifies items preventing the completion of a proper 3-way reconciliation, and the necessary corrective actions; b) Daily Reconciliation Analysis Report that reviews the entire reconciliation results and identifies other items that may represent potential audit or regulatory issues requiring attention. A proper reconciliation is far more than just matching three numbers. Only RynohLive provides this robust functionality that is easy to use and understand.

For more information contact:

Call: 757-333-3779

Visit: http://www.rynoh.com