Realeo provides Title Insurance and Escrow services to a customer base of national and regional direct lenders and mortgage brokers. The management group has over 20 years history working together in the field with proven profitability and consistent annual growth. Realeo is staffed with operational and administrative employees that combine over 75 years of Title Insurance and Escrow experience with solid customer relationships.
Most real estate transactions require Title Insurance and Escrow Services. These transactions range from the traditional, including but not limited to the purchase of homes, refinance of existing loans, and home equity loans, as well as non-traditional transactions such as foreclosure, bank owned sales, loan modifications, credit extensions, and short sales. Those transactions involving real estate that do not require insurance still require data products before closing. The Realeo management team has closed over 3,000,000 of these types of transactions.
While the mortgage and real estate industry has recently gone through a period of lower originations and lower sales, the demand for Title Insurance and Escrow Services remains high. The downturn in the market has additionally forced many companies in the industry to leave the space entirely. This has limited the remaining originators to fewer providers with which they can place orders. The large providers, while having a vast spectrum of products and technology, fall well short when it comes to customer service. Realeo offers a full suite of products without degradation of service. We believe this will differentiate Realeo from the competition.
Realeo utilizes a centralized processing and fulfillment model, with one company-wide operating system, and extensive direct integrations with customers and outsourcing providers to effect real time access of information and status to our customers. The Company intends to acquire licenses and product solutions in all 50 states. The Company intends to operate in a paperless environment with all data stored electronically effectuating immediate access to customers and employees.
Additionally, Realeo intends to partner with several underwriters as an agent to enable the offering of all current insurance products available. We believe these multi-underwriter relationships will allow for broader access to title plants and data integrations. Each of the major underwriters has their own proprietary databases that their individual direct operations are mandated to use. These databases range in depth and accuracy from region to region. For example, one underwriter may have accurate plant data on the west coast while their east coast coverage is limited. By partnering with several different underwriters and data sources, we believe that Realeo will have an advantage over these operations in the speed and accuracy with which we provide products.
Realeo management has considerable advantages over our competitors, with our established relationships and integration experience, combined with our process model with already proven success. The Company intends to provide its customers with the highest standard in customer service and product delivery through the use of superior technology and process models necessary in today’s market.