Lone Wolf’s new product will directly link real estate agents with title companies to securely digitize deal data. Multiple software and title companies collaborated to develop the web-based solution.
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Lone Wolf Technologies announced in a press release the launch of Digital Title, a product intended to facilitate the order of electronic property titles from its popular software, Lone Wolf Transactions.
Digital Titles can be used throughout the U.S. in conjunction with the company’s zipForm Edition and Transaction Desk. There is no charge for using the new feature.
Communication between agents and title companies is a crucial component of any real estate deal, requiring clarity, security and timeliness. According to the press release, real estate agents can select their preferred title provider and submit orders directly within a transaction using existing information.
Title agents can also be invited into the transaction software to consolidate deal data, eliminating excess emails or personal information being shared outside of transaction context.
“We’re thrilled to launch Digital Title Orders today,” said Jimmy Kelly, CEO and President of Lone Wolf in the press release. “This new feature — and the amount of industrywide collaboration it took to create — is a huge step forward for real estate transactions in a digital-first environment.”
A host of industry stakeholders collaborated in the creation of Digital Title, the release states.
Title companies First American Title Company, which owns digital escrow solution Endpoint, WFG National Title, and software firms SoftPro and RamQuest worked alongside Lone Wolf to design the product, which for the first time creates a direct bridge between real estate agents and title professionals. The company said in the release that more integrations are being worked on to expand the reach of the product.
First American Title will be the first organization to accept Digital Title orders. RamQuest customers are also now able to onboard other title partners.
By the end of 2021, Lone Wolf plans to onboard 80 percent of title companies, the release states.
Title services have long been viewed as a major hurdle to the fully electronic real estate transaction. With Lone Wolf’s software being part of approximately 75 percent of all deals closed in North America, this new multiparty solution represents a significant step toward the total digital deal.
Marty Frame is president of WEST, the technology affiliate of WFG National Title. He said his company’s goals clearly overlap with Lone Wolf’s.
“As a national provider operating through direct, agency, and enterprise operations, WFG knows that this deep integration with Lone Wolf is the step forward in the transaction process that the industry has been looking for,” he said. “We are dedicated to making the real estate transaction easier, faster, and more cost effective for real estate agents and their clients.”
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.