Built to Serve: RedVision Collaborates with Foreclosure Service Firm to Provide Fast and Effective Title Search Solutions
"We get RedVision's brain power, their willingness to collaborate....things that you cannot get at other firms. A business is only as good as the people in it. RedVision has some great employees and they've allowed us to grow - to go out and expand our business." Bill Casale, COO, New House Title.
New House Title provides state-wide title search and examination services for commercial and residential properties. New House Title also performs search and exam orders for document preparation services such as First American Lenders Advantage and Firm Solutions, Inc.
New House acts as the escrow agent for a number of mortgage investors, handling real estate closings in Florida. New House Title also represents local lenders and real estate institutions in the closings of residential and commercial retail transactions throughout the state.
New House needed to find a way to ramp up its title search processing and expand its capacity by working with a company that offers both the data and the title services. Turnaround time was crucial due to exploding business volumes. New House faced the challenge of finding a reliable partner to best service its customers.
Now partnered with RedVision, the two companies determined for the tasks best suited for Red Vision to handle, using the TitleVision platform and service center, and the tasks that New House should continue to handle to maximize turn times and minimize costs.
Value to Business
Improved quality and turn times
Expanded capacity during a high growth period
Effective and efficient utilization of resources
Ability to focus on internal business issues and growth opportunities
TitleVision Shared Services, www.redvision.com
With foreclosure rates at an all-time high, New House Title, a Florida-based foreclosure service firm, needed to ramp-up processing and expand capacity for their foreclosure title search orders. New House Title's existing process was in-house and used data purchased from outside resources. To date, New House was never able to find an outside vendor that could commit to acceptable timeframes and offer data and service solutions to meet their fast-growing volumes and high-level service standards.
The challenge was to find a company to partner with that recognized the business requirements and had or could build a business model to satisfy the RedVision's specific requirements.
New House met with RedVision to learn about the TitleVision platform and RedVision's service-staff capabilities. TitleVision electronically posts all the data needed to complete most title searches, including courthouse records, appraiser values and property tax data. The advanced posting algorithms and SmartFilter technology ensures that only the most relevant records need to be reviewed which saves time and reduces the likelihood of errors.
The two companies began to work together to craft the best possible solution to meet New House's needs. New House met with RedVision's operations personnel and mapped the entire transaction process from beginning to end, determining which steps within the process were best suited for each company to manage while ensuring maximize turn times.
The evaluation process and partnership has grown over the past 5+ years by our team members keeping a critical eye on better processing. The two companies constantly find more synergies and improvements and automations to save time.
"It's a very collaborative strategy," explains New House's Chief Operations Officer, Bill Casale.
"We treat each other like partners, not client/vendor. We have found a group of smart, motivated people who really do care about how to make our business the most efficient process possible. We work together to make it a win-win situation for the both of us. The difference between the solution that RedVision provides and what their competitors provide is that they took the time to listen to our problem and collaboratively developed a solution.” stated Casale.
The introduction of RedVision significantly improved quality and turn times at New House, and the company has been able to expand capacity without the addition of resources—even with business-volume growth of 400% - 500%; over the past six months.
Found Ways to Better Manage Resources
New House can now better utilize its higher-skilled and higher-paid resources for other projects rather than the more simplistic tasks. The company finds it can use lower-cost service employees to handle simple tasks through RedVision. “We created a grading system that determines if a file requires a lower level of processor versus a file that requires somebody with “X” years experience,” says Casale. “Prior to the RedVision solution, each person handled everything that came in the door.”
Ability to Focus on Business and Growth Opportunities
New House is now able to handle more volume, and does not have to turn away business. Indeed, a recent acquisition would not have been possible without the TitleVision platform. It would have been much more difficult to absorb the new business, according to the company.
Additionally, New House can redirect the bandwidth formerly spent on processing orders in-house toward other initiatives. The company now has the time to focus on the business model and how the company services clients by working on quality improvement, customer relationships and lowering costs.
“RedVision takes the approach that it needs to add value to what is basically a commoditized product,” says Casale. “And that’s the difference. RedVision actually listens and is willing to sit down and talk about how to change the process. Other companies are not flexible at all. They figure that if it works for everybody else it should work for us, but it doesn’t."
“We get Red Vision’s brain power, their willingness to collaborate…things that you can’t get at these other companies. A business is only as good as the people in it. And Red Vision has some great people and they’ve allowed us to grow – to go out and expand our business."
“It’s reliable, it’s predictable, and I can set my watch by it. I don’t have to worry and we can work on other parts of our business—that’s the key.”