ClosingGuard.com Enters Into Partnerships With Four Technology Companies to Ensure Secure Online Information, Document and Money Transfer Management.Business Editors & Technology Writers NEW YORK--(BUSINESS WIRE)--Aug. 22, 2000 Online real estate closing company to safeguard real estate transactions with Equifax Secure, Surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. .com, PenOp and nCipher ClosingGuard.com(SM), a leading application service provider (ASP) managing residential real estate closings online, has partnered with four leading technology firms to optimize security for its ClosingSpace 2.0(SM) platform. By selecting Equifax, Surety.com, PenOp and nCipher from an array of potential technology companies in the marketplace, ClosingGuard(SM) has created the most advanced and secure online residential real estate closing platform. "ClosingGuard's mission is to become the top real estate closing application service provider for industry professionals," said ClosingGuard(SM) CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Steve Wolinsky. "Aligning with these technology partners ensures that all parties to the transaction are protected by the best technology in the business and that they receive the best on-line utilities the Internet has to offer." Currently in beta, the ClosingGuard(SM) technology platform is a third party solution providing an electronic environment for conducting residential real estate closings. Registered users manage a closing process in ClosingGuard's(SM) automated virtual ClosingSpace(SM), a private, web-accessed database housing all documents, profiles, workflows and information pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to residential home closings. Professionals can track each step of their transactions, end-to-end. As information is input into the system, it automatically populates documents such as HUD-1's, deeds deed n. 1. Something that is carried out; an act or action. 2. A usually praiseworthy act; a feat or exploit. 3. Action or performance in general: Deeds, not words, matter most. and transfer tax forms. Users can calculate all closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, , payments and adjustments in advance so there are no surprises at closing time. Payments can then be made electronically, in real-time, thereby streamlining a traditionally time-consuming closing process. ClosingGuard(SM) will, in the next few months, roll out its technology to most major real estate markets. The technology promises to effectively eliminate the need for the paper-intensive, slow and fragmented process involved with buying a home. About ClosingGuard(SM) partners: -- Equifax Secure Inc. offers the industry's first total outsourced e-commerce solution to authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. identities, to secure business applications, and to manage digital certificates and directories for highly secure e-commerce transactions over the Internet and other networks. Equifax Secure's core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
-- Surety.com is the Internet's premier provider of digital record notarization services. Surety's Digital Notary notary or notary public Public officer who certifies and attests to the authenticity of writings (e.g., deeds) and takes affidavits, depositions, and protests of negotiable instruments. Service enables users to notarize no·ta·rize tr.v. no·ta·rized, no·ta·riz·ing, no·ta·riz·es To certify or attest to (the validity of a signature on a document, for example) as a notary public. electronic files and records before distributing them, guaranteeing and enabling verification of the file content for years to come. -- PenOp is a global leader in providing legally binding technology-neutral electronic signature technology for eBusiness. The company uses a patented, online signing process that gathers the Digital Evidence transcript A generic term for any kind of copy, particularly an official or certified representation of the record of what took place in a court during a trial or other legal proceeding. A transcript of record required to replace pen and paper signatures. PenOp serves customers in 32 countries with Ready to Sign solutions built into e-commerce, forms management and workflow applications A workflow application is where various applications, components and people must be involved in the processing of data to complete an instance of a process. For example, consider a purchase order that moves through various departments for authorization and eventual purchase. . -- nCipher is the developer of high performance hardware security products specifically designed for e-commerce and Public Key Infrastructure (PKI (Public Key Infrastructure) A framework for creating a secure method for exchanging information based on public key cryptography. The foundation of a PKI is the certificate authority (CA), which issues digital certificates that authenticate the identity of ) applications. The company is a recognized leader in innovative solutions that increase the security and speed of electronic transactions for financial institutions, e-retailers and other organizations exchanging sensitive information over the Internet. About ClosingGuard(SM) ClosingGuard(SM) (www.closingguard.com), founded in November 1999, is an innovative Internet applications service provider (ASP) offering lenders, real estate professionals, buyers and sellers a secure and neutral platform to conduct automated closings. ClosingGuard(SM), saves a significant amount of time, reduces operational and administrative expense, and provides the professional community with an Internet based platform to conduct residential real estate closings. ClosingGuard(SM), is a scaleable, leading-edge e-Business solution that creates substantial economic benefits for all parties to the transaction. Using ClosingGuard(SM) will reduce the frustration of the current process, increasing productivity, and competitive advantage. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion