Less paper. Reduced emissions. It’s the title process approved by Mother Nature.
In a typical pen and ink closing, approximately 460 pieces of paper will be used. Seems like a lot doesn’t it? Now, in a good year there would be about 5.8 million residential real estate transactions and around 2.8 million refinance transactions for a total of 8.6 million closings. Multiply that by 460 pieces of paper, and you would get 3,956,000,000 pieces of paper. Yes, almost four billion pieces of paper. But let’s take the math further, shall we?
A ream of paper is equal to 500 sheets of paper. A tree produces approximately 16 reams of paper. So, 8.6 million closings would equal 7,912,000 reams of paper or close to 495,000 trees. Stewart currently holds 12% of the title insurance market, and that means that every Stewart residential closing being done paperless would save around 60,000 trees per year.
The Stewart Green Title Process enables the entire real estate transaction to go paperless. Now, we can’t control the entire process, so we’re doing our best to convince everyone involved in the real estate transaction to make use of our eco-friendly technology. Through that technology we enable the electronic transfer and approval of all documents. We’re even able to equip county courthouses to receive and store all files electronically. If all parties to the transaction came on board, even less paper would be used than what is noted in the math above. To find out more about the various technologies we use to enable the green process, click on the links below.
Of course, using these technologies makes the Stewart Title Process green in more ways than just saving paper. Less ink is used because there isn’t any printing. There are less carbon emissions created by transportation because no documents need to be sent via overnight or courier services, and fewer meetings need to be held in person by those involved in the real estate transaction.
Click the links below for more information on how our technology can help your transactions be greener.