RealEc Technologies forms partnership with Framework. (Technology Update).RealEC Technologies, the secure B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business eCommerce exchange for real estate transactions, announced its partnership agreement with Framework, Inc., a national provider of technology and enterprise software for financial institutions. "The combined new functionality contributes to RealEC's strategy to facilitate the origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real , servicing, and closing of real estate transactions toward a truly paperless environment through financial solutions across all distribution channels," said Jeff Sanderson, president of RealEC Technologies. "This strategic collaboration with Framework, Inc. enables RealEC to lead innovations in B2B real estate transaction management and help define the industry standards that drive this market." Dan McClure, 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. of Framework Inc., noted that "Users of our LendWare credit fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. platform can now access and order a wide range of products and services with one click of their mouse or through LendWare's automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. processing capabilities, including mortgage insurance, title, flood determinations, credit reports, appraisals, and other valuations. The integration with RealEC Technologies will supply us with a direct data integration link to the largest settlement service providers in the mortgage industry." The XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. integration of RealEC's technology into Framework's LendWare eBusiness platform enhances Framework's vendor management capabilities. RealEC Technologies enables the online ordering and delivery of all real estate related products and services to provide lenders and realtors with complete and integrated technology solution for real estate transactions. Expense associated with tracking and managing a transaction is reduced, and redundant processes, such as the re-keying of standard data, are eliminated. LendWare's eCommerce, workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. , and automation features allow financial institutions to establish faster and simpler processes across product lines and value-chains. LendWare helps lenders reduce fulfillment time from weeks to minutes, and lower production costs by 25-50%. RealEC is designed to facilitate the origination, servicing, and closing of real estate transactions and to enable real estate practitioners to significantly exhance their businesses. The RealEC Exchange is an intelligent routing process that offers traditional transaction capability and provides a standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. connectivity and data transport functionality for originators and vendors. |
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