[1]RedVision [2], an independent provider of nationwide title and real property research based in Parsippany, New Jersey, has announced the launch of RedVision STP (Straight-Through Processing), a solution-based approach that provides direct customer benefits by using direct system integration between RedVision and the customer to provide seamless and uniform title reports.
RedVision STP creates a new industry standard for a more efficient seamless transaction through standardization for an industry where procuring title has traditionally been a challenge, due to disparate public records. The seamless transaction will inherently provide costs savings to RedVision’s customers and position the company as a single-source solution provider through a unique combination of supply-chain efficiencies, technology advancements, best-practice requirements, and an expert title team.
“The processing of real property title information is highly commoditized, providing minimal differentiated value to customers at increasingly higher costs due to ongoing regulatory constraints,” said Brian Twibell, CEO of RedVision. “RedVision STP provides value to our clients by delivering a seamless, scalable and industry-compliant solution for electronic title production while offering a cost savings structure.”
The building blocks for RedVision STP are the company’s continuous investments in data acquisition, technology advancements, and best-practice standardization. STP allows RedVision to offer clients a simplified, automated transaction that is delivered to the client’s system, which in turn enables the clients to focus on high-value strategic activities. Those activities include the ability to adapt to market fluctuations while driving sustainable internal growth and profitability.
“At LenderLive, we are continually innovating and incorporating best-in-class technology tools to expand our business scale and enhance operations. We are furthering our partnership with RedVision to adopt the benefits of straight-through processing (STP),” said Joe Mowery, president of LenderLive Settlement Services, an end-to-end mortgage services provider and also one of RedVision’s largest customers. “After reviewing the STP concepts and methodologies, we are confident that the capabilities and technology will enrich our first-class products while increasing operational efficiencies.”