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RynohLive, a Virginia Beach-based patented financial management and fraud prevention system for title agents, as recently named an Elite Provider by the American Land Title Association (ALTA).
ALTA recently created the Elite Provider designation recognize service providers that are committed to offering the title insurance and settlement industry comprehensive benefits. Elite Provider members meet the industry's highest standards and provide effective solutions for the critical needs of ALTA's members. RynohLive and New York-based Real Estate Data Shield were the first two firms selected for Elite Provider designation.
"We are extremely excited to accept Real Estate Data Shield and RynohLive as Elite Providers," said Michelle Korsmo, ALTA’s chief executive officer. "As we continue to provide education and training on ALTA’s Title Insurance and Settlement Company Best Practices framework, we must provide a resource of businesses with a proven track record of valuable services and products for our members. I look forward to more companies enrolling in the ALTA Elite Provider program in the future."
RynohLive, which was founded in 2009, exceeds ALTA's Best Practice Pillar No. 2 requirements, which include electronic verification of reconciliation. RynohLive's patented software solutions daily conduct an automated three-way reconciliation of escrow accounts as well as an end-to-end audit of those accounts. With real-time monitoring of escrow accounts, RynohLive's software solutions work around the clock to help clients stay ahead of would-be fraud perpetrators and identify other audit issues in order to minimize exposure to loss.
"ALTA's Elite Provider list is highly selective, and RynohLive is honored to be part of the program," said Dick Reass, CEO of RynohLive. "We are the industry standard for escrow and financial management software for the settlement industry, and it is great to have ALTA recognize the work that we do on a daily basis to keep escrow accounts secure."
