RamQuest, Inc. and Guardian Consumer Services unveiled Digital Close to the title and settlement industry at the American Land Title Association’s Federal Conference in Washington, DC this week. Digital Close is a platform that brings all stakeholders, including the consumer, together in a single, centralized location. By doing this, Digital Close not only standardizes and modernizes the closing process but also meets the challenges issued by the Consumer Financial Protection Bureau to deliver a transparent, secure and positive experience for consumers purchasing a home.
A number of different but common issues in today’s closing process suggest the need for all participants to come together in the same place and work in concert. Lack of knowledge, lack of involvement, lack of transparency, lack of education, lack of participation, lack of consistency and lack of standardization are all critical factors encountered daily throughout real estate closing transactions. Digital Close is a unique set of solutions, bundled together to move business beyond the traditional, single-focused and narrow roles that dominate the closing process, while bringing everything and everyone together into a single, centralized location.
Three independent components come together to deliver Digital Close. RamQuest’s Closing Market is the integration platform for the entire process and is integral in its ability to enable standardized connectivity to any system, anytime, anywhere. The common workspace for Digital Close is enabled by Guardian Consumer Services’s (GCS) Pavaso. In a manner similar to a smart phone, Pavaso allows individual stakeholders to define the type of workspace that they need, as they need it. Finally, Coindata’s Docupad is the device that acts as the control mechanism for Digital Close by managing the documents and recording the steps in the closing process. Think of the Docupad as a desk-sized tablet that creates a consistent, auditable and engaging signing process for the consumer at their closing.
About RamQuest
RamQuest is a Texas-based corporation founded in 1991, and is the premier provider of solutions for the Land Title Industry. Closing Market is RamQuest’s digital marketplace that seamlessly integrates diverse software systems and gives business partners an easy and efficient way to do business together to provide superior service to meet their customers’ needs. For more information about RamQuest, visit www.ramquest.com.