MIAMI, March 7, 2012 – North American Title Insurance Company (NATIC), a leading national title insurance underwriter today announced it has entered into a relationship with Segin Software, LLC, provider of the RynohLive escrow reconciliation and financial management software. NATIC will implement the RynohLive software on its own system and encourage its agents to do likewise. NATIC is breaking new ground in agent services with RynohLive. Under the terms of the agreement, North American will be able to offer a discount on the RynohLive implementations to its agents.
This revolutionary technology makes it easier for agents to interact with NATIC and reduce fraud and defalcation. RynohLive features an integrative software bridge application package that seamlessly integrates escrow software and banking systems to provide automation for the time sensitive and demanding components of the real estate settlement industry. Both underwriter guidance and the law mandate that settlement funds not be disbursed until on deposit and available at the bank. With RynohLive’s continuous account auditing, anti-fraud algorithms and built in reporting mechanisms to monitor cash flow and individual file balances, defalcation and employee fraud are virtually eliminated using this software.
Emilio Fernandez, President of North American Title Insurance Company said “The agent-underwriter relationship is evolving quickly in today’s challenging environment. The RynohLive system allows our agents to have virtually real time control of escrow funds and disbursements, which is a real time cost savings to them and consequently provides the underwriter with an audit tool and a far greater level of comfort in regard to sound escrow accounting procedures. “ NATIC just launched this value-added service and is making it available to all its affiliated title agents at a discounted price.
About North American Title Insurance Company North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter helping customers achieve the American dream of home ownership for over 50 years. NATIC, through its affiliated agency NATC, and vast network of independent agents, conducts real estate settlement services in 28 states. NATIC earned the reputation as the “underwriter next door,” because their associates are always easy to reach and their processes are, at all times, quick and straightforward. The NATIC agency application process is fast and transparent for qualified agents. NATIC has a one-hour underwriting response guarantee that is unparalleled in the industry.
NATIC is the largest capitalized company in Peer Group 2, which groups companies with capitalization between $25,000,000 and $100,000,000, as determined by Kroll Bond Rating Agency, Inc. NATIC is ranked 8th by The Performance of the Title Insurance Underwriters© in terms of cash or cash equivalents. North American Title Insurance Company maintains over $67,000,000.00 in cash or cash equivalents. This represents over 92% of the company’s assets and is characteristic of the most important attribute to Title Protection, namely, Financial Responsibility.
Demotech, Inc. awarded NATIC a rating of: A’ (A Prime) Unsurpassed. NATIC is headquartered in Miami, Florida. To learn more, visit www.natic.com.
NATIC Ryno Press Release (Downloadable Flyer)