Venture to help bankers hits the mark.Realty Data Corp., a provider of real estate information research and report generation services for the title and mortgage servicing Mortgage servicing The collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default , involved with a mortgage loan. industries, announced the successful completion of a joint effort to integrate its property data into General American Gen·er·al American n. The speech of native speakers of American English that many consider to be typical of the United States, noted for its exclusion of phonological forms readily recognized as regional or limited to particular social groups and for Corporation's GATORS settlement services tracking system. General American Corporation, a unit of Fiserv, Inc., is a full-service real estate settlement services company providing nationwide assistance to the first mortgage, refinance, and equity lending industry. "Realty Data Corp. has developed industry leading technology for the title and mortgage servicing sectors," said David Drucker, 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 Realty Data Corp. "We are pleased that after almost a year in development, the system we created in cooperation with GAC GAC Great American Country GAC Global Assembly Cache (Microsoft .NET) GAC Global Assembly Cache GAC Granular Activated Carbon GAC Gustavus Adolphus College (St. went live on October 10, 2003. This enhanced system marks what w expect to be the beginning of a new era in technology for this sector." In the mortgage servicing and title insurance sectors success is judged by rapid turnaround time (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. and report accuracy. With Realty Data Corp.'s technology, which utilizes cutting-edge 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. software language, information can be efficiently researched and rapidly integrated into GAC's GATORS system. Information populates report without any re-keying of information. "In the past, we would send abstractors out to court-houses and other repositories of real estate information These individuals research and obtain the requested in formation and return it to us. This process can take several days, even longer in places like New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Now, using the system created by Realty Data Corp., research can be completed in a matter of hours, his new environment allows us to pull abstracts and information immediately, and because these data are mapped specifically for our system, we can have a completed product in half the time of our traditional process," said Christopher Behning, senior vice president of GAC. The enhanced reports and services are expected to save GAC staff significant time, assist them in providing information to clients at a faster rate and improve efficiency. |
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