News - RealEC & Old Republic Title
Old Republic Title and RealEC Announce Service Provider Agreement; Customers Will Access Old Republic Title's Products Through RealEC
SANTA ANA, Calif., March 20 /PRNewswire/ -- The Old Republic Title Insurance Group today announced it executed a service provider agreement with RealEC, Inc. -- a secure business-to-business electronic commerce exchange used to order and deliver real estate settlement services. RealEC's customers will now be able to electronically order, track and receive title, flood, appraisal, and other real estate related information products from Old Republic Title.
Old Republic Title is a subsidiary of Old Republic International Corporation (NYSE: ORI), a financially strong and efficient specialty insurance enterprise engaged in general (property & liability), mortgage guaranty, title, and life insurance businesses.
"The agreement with RealEC strategically assists Old Republic Title in positioning itself for the future to become THE information provider to the real estate industry," said Kirk L. Knott, Vice President, Director of Information Systems at Minneapolis-based Old Republic National Title Insurance Company. "Offering an array of products, such as title insurance, flood certifications, appraisals, and real estate settlement services, gives
recognition to the fact that we are solidly in the information business."
"Old Republic Title has a reputation for taking the long view in establishing customer relationships and building business methodically," said Jeff Sanderson, President of RealEC, Inc. "We are pleased that a company with such high standards has chosen to join the growing family of RealEC service providers."
The RealEC exchange provides customers (lenders, Realtors(R), builders and relocation companies) with access to a variety of service providers (title companies, appraisers, flood information providers, escrow services, etc.) by using a shared, multi-platform public infrastructure rather than a private network or proprietary system. The RealEC exchange provides title services, automated property valuations, escrow services, flood certifications, appraisal services, closing services, centralized funding services, tax notification services and credit reporting services.
About The Old Republic Title Insurance Group
The Old Republic Title Insurance Group provides title insurance and related real estate transfer services nationwide through its 200 branch, subsidiary and agency servicing offices, and approximately 2,000 independent policy-issuing agents. With the exception of Oregon and Iowa, Old Republic Title is licensed and operates in 48 states, the District of Columbia, and Puerto Rico. For more information, visit oldrepublictitle.com.
About Old Republic International Corporation
Chicago based Old Republic International Corporation (NYSE: ORI) is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages in the property and liability, mortgage guaranty, title, and life and health fields. One of the nation's 50 largest publicly held insurance enterprises, Old Republic International Corporation has assets of approximately $6.9 billion and total capitalization of $2.4 billion. For more information, visit oldrepublic.com.
About Micro General Corporation
A full-service enterprise solutions provider, Micro General Corporation (OTC Bulletin Board: MGEN), offers a complete range of information technology services, encompassing proven solutions in Systems Integration, Application Development, Real Estate industry applications, and eCommerce. The organization offers fast-growing solutions that maximize mission-critical solutions to national and international companies. Micro General has uniquely
positioned itself as an international eCommunications solutions provider comprised of the following business units: ACS Systems, Inc.; Escrow.com; and L.D. Exchange, Inc. Today the company delivers both domestic and
international termination services and offers a full suite of retail business telecommunications services. Micro General employs more than 250 individuals, primarily in professional and technical positions. To learn more about Micro General Corporation visit microgeneral.com or call 949.622.3927.
About Stewart Information Services Corporation
Stewart Information Services Corporation provides title insurance and related services through more than 4,800 issuing locations in the United States and several international markets. A leading provider of real estate information technology and connectivity, Stewart meets the needs of the real estate and mortgage industries through the electronic delivery of services required for settlement. These services include title reports, flood determinations, property appraisals, document preparation, credit reports and other real estate information. In addition, Stewart provides expertise in tax-deferred exchanges, surveys and field services. More information about Stewart Title can be found on the Internet at stewart.com.
ABOUT RealEC, INC.
RealEC, Inc. develops, operates and maintains a secure business-to-business e-commerce exchange used to orchestrate real estate settlement services by connecting more than 500 customers with more than 1,400 service providers. The company is owned by Santa Ana, Calif.-based Micro General Corporation (OTC Bulletin Board: MGEN) and Houston-based Stewart Title Company, an affiliate of Stewart Information Services Corporation (NYSE: STC).
More information about RealEC can be found on the Internet at realec.com. |
