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ExpertTitle.txt
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1995-06-12
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FOR IMMEDIATE RELEASE
Toni Blue-Price Fred Fleury
Southwest Land Title Co. Tensor Information Systems, Inc.
214-788-2883 817-246-2141
SOUTHWEST LAND TITLE CO. PROCESSES $1 BILLION
OF REAL ESTATE USING EXPERT TITLE
DALLAS, Texas November 22, 1994 Southwest Land Title Co. and Tensor
Information Systems, Inc., today announced that over $1 billion dollars of
real estate transactions and 150,000 documents have been processed using
the Expert Title Applications, while doubling employee productivity in
major processing areas. Expert Title consists of seven custom NEXTSTEP
applications designed to operate as an integrated Title Insurance and
Escrow Services solution. The Southwest system was designed and
implemented by Tensor, a Next Object Channel Partner.
Expert Title is a document processing and workflow management toolset used
for preparing real estate closing documents. The applications contain
over 100 documents consisting of promulgated forms, policies,
endorsements, binders, real estate transaction documents and other related
forms. In addition to the existing documents, custom documents may be
added as needed. All documents are WYSIWYG and share common information
from the database to virtually eliminate repetitive data entry thus
offering substantial savings. The legal documents support drag and drop
of standardized legal paragraphs and the forms support electronic notes.
The underlying structures to the documents support EDI and the Expert
Title system will support EDI as the specifications for title insurance
are released.
The Expert Title system contains an integrated disbursement system for
managing escrow accounts from the settlement statements using both
automatic and manual receipts and disbursements. Disbursements are
handled for multiple bank accounts and multiple branch offices. The
checks are encoded with the proper MICR and bank information when printed,
and use customizable blank check stock for a significant cost savings.
Significance of Expert Title
"With the implementation and utilization of Expert Title and NEXTSTEP, we
are not only more competitive than we ever envisioned, but we have the
technological capabilities to offer computer services not yet imagined by
most of our competitors," said Scott Moize Chief Operations Officer of
Southwest Land Title Co. "The custom solution provided by Tensor has far
exceeded the commercially available title and escrow software products, as
well as our expectations of what computers could accomplish in
streamlining our operations and dramatically increasing the productivity
of our personnel."
"Expert Title has been successful because of NEXTSTEP," said Travis
TeSelle president of Tensor Information Systems, Inc. "The iterative
development process and reusability of objects has been crucial to the
implementation." Coding for the project began in May of 1993 with the
first Expert Title application deployed in October 1993, just five months
after the project commencement. Since October 1993, six additional custom
applications have been delivered.
About Southwest Land Title Co.
Southwest Land Title Co. is the one of the largest Title Agency operations
in the nation, providing title insurance and escrow services, primarily in
the Texas market, but also throughout the country. Southwest was founded
in 1965 and provides commercial and residential title insurance and escrow
services, accounting for more than $1 billion dollars annually in real
estate value and corresponding transactions.
About Tensor Information Systems, Inc.
Tensor Information Systems, Inc. is a computer systems integrator and Next
Object Channel Partner. Tensor provides custom software applications in
the financial services and telecommunications markets. With reusable
objects and extensive tools, Tensor integrates business information
systems requiring document processing, workflow management, imaging,
customer service and reporting using the client-server model. Tensor
Information Systems, Inc. is headquartered in Dallas/Fort Worth Texas and
provides solutions around the world.
Expert Title is a trademark of Expert Title. All other trademarks or
registered trademarks are the property of their respective owners.