NextAce Automates Foreclosure-Related Title Products.

ANAHEIM HILLS, CA -- Title automation and business process optimization company, NextAce, has released automated title products for the bourgeoning foreclosure market.

NextAce, Anaheim Hills, Calif., is expanding its automated title software and services offering, Title EDGE, to deliver real estate-owned and mortgage default (foreclosure) products that provide title agents the same speed, depth of research, and cost savings as its existing refinance and purchase product offerings.

The Title EDGE REO and mortgage default products are currently in production in California and Texas, and soon to follow in Arizona, Florida, Hawaii, Nevada, New York, Ohio and Washington.

Title EDGE automation is not a "production shortcut" that only delivers a high-level or cursory examination. It is a technology innovation that automates the existing end-to-end process of a title production department.

This includes automating the search and examination of recorded documents, real property information, general index detail, liens, judgments and probate issues, and all other matters that are considered necessary in the title process. Title EDGE programmatically extracts the exact language, information and detail directly from the documents themselves. Once extracted and compiled, each file is then reviewed by title-trained professionals prior to delivery to ensure the highest level of accuracy. With Title EDGE products, NextAce customers can reduce costs, increase efficiencies and improve turn time by as much as 80%.

In addition, title orders are processed in less than one hour on average, and in some cases as few as 15 minutes, which cannot be accomplished using traditional search and examination ...