Stewart® Enhances Lender's Customer Experience with New Rate Calculators
New Stewart ExpressQuote Calculators calculate your closing costs for the Good Faith Estimate (GFE) at the click of a button
HOUSTON (Feb 17, 2010) – Stewart Title Company (STC) and Stewart Title Guaranty Company (STG), wholly owned subsidiaries of Stewart Information Services Corp. (NYSE-STC), announced today new RESPA-compliant online rate calculators for lender customers. Calculators are rolling out nationwide through Stewart Title offices and through Stewart Title Guaranty’s network of agencies.
As of January 1, 2010, the Real Estate Settlement Procedures Act (RESPA) reform went into effect, requiring lenders to provide residential customers with a new type of Good Faith Estimate (GFE). The GFE gives customers an estimate of their settlement charges and a summary of loan terms. In the RESPA reform, title fees fall within a tolerance level group that cannot vary more than 10 percent in aggregate, making it crucial that the estimates received by the lender customer from their title agency are accurate.
"In an effort to continue to improve our customer's experience and in light of new RESPA regulations, we are pleased to announce new online rate calculators for our Stewart Title Company operations," said Stewart Morris Jr., president of Stewart Title and chairman of PropertyInfo Corp. “Lender ExpressQuote™, Stewart Title's new rate calculator, will allow our lender customers to quickly generate reliable electronic quotes for title service fees, title premiums, recording fees and transfer taxes. These quotes are easily downloaded and email-compatible in the new lender-friendly GFE format."
Stewart's Lender ExpressQuote is now available at a growing number of Stewart Title affiliate operations. Lender customers can access new online quoting capabilities at http://www.stewart.com/lenderexpressquote or through local Stewart Title office websites. To locate a local Stewart Title office, go to http://www.stewart.com/interactivemaps.
"Additionally, our independent agencies will be able to offer their lender customers the same online calculator capabilities via GFExpressQuote™," said George Houghton, executive vice president, Agency Services Group for Stewart Title Guaranty Company. "GFExpressQuote will allow our agencies to private-label the closing cost calculator and offer it on their company website for their lender customers to receive quotes and place their orders directly with the agency."
GFExpressQuote for independent agencies is available at http://stewart.com/gfexpressquote, or through participating agency websites. For more information on Stewart’s rate calculators, contact firstname.lastname@example.org.
Features of the Stewart ExpressQuote calculators include:
- 24/7 availability;
- Built-in geographical intelligence to allow for unique state requirements, such as transfer taxes;
- Access to a repository for all quotes generated within a one-year time period
- Downloadable quotes available on the spot;
- Visual representation that shows exactly where the pricing is placed in the 2010 Good Faith Estimate.
Both Lender ExpressQuote and GFExpressQuote are powered by PropertyInfo Corporation, a Stewart company. PropertyInfo develops, supports, and distributes technology for the real estate industry.
About PropertyInfo Corp., a Stewart Company
PropertyInfo Corp., a wholly owned subsidiary of Stewart Title Company, delivers state-of-the-art real estate information solutions to the real estate, closing and mortgage industries. As a global provider of online transaction management and e-closing solutions, real estate information services, title/escrow production systems, hosting services, software development and online product distribution via its Web portal, PropertyInfo.com, PropertyInfo provides title and real estate professionals with the electronic data and integrated applications needed to increase their business efficiency and improve the quality of information used throughout the real estate transaction process. For more information, visit http://www.propertyinfo.com or e-mail email@example.com.
Stewart Title Company and Stewart Title Guaranty Company are wholly owned subsidiaries of Stewart Information Services Corp. (NYSE-STC), a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries throughout the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at http://www.stewart.com or follow Stewart on Twitter @stewarttitleco.