Go Beyond the Title Plant Blog

There’s an old saying: “If it ain’t broke, don’t fix it.” While that sounds like good advice, it assumes two very important things: first, that the observer is right and the process isn’t broken and second, that a significantly better way does not exist.

On a macro level, there are many manual steps within the traditional title process that have worked well for decades but are now being re-thought and re-engineered - not because they are broken - but simply because the industry is rapidly becoming more digital and traditional workflows slow, rather than accelerate, this process.

Over the past few years, great strides have been made by our industry to bring operational and human efficiency and productivity to the title production workflow while driving down risk and cost.

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– As the title industry continues to record historic volumes, we’re thrilled to share our on-site market trends, key themes and takeaways from this year’s ALTA ONE conference. –

This year’s ALTA ONE conference – held both virtually and in-person – recently concluded in New Orleans, Louisiana. Consistent with the ALTA ONE theme “All-In”, it certainly wasn’t hard to be “all-in” with the etouffee, beignets and many distinctive traits we all love about the historic city of New Orleans. 

Attendance remained strong with an overall upbeat, forward-looking presence as we had the opportunity to connect with several attendees, including Bill Burding, outgoing ALTA President.

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– As title companies evaluate emerging technology to meet market demand; digital, real-time property tax status reporting is the logical choice. –

The title industry – like all segments of the real estate/finance ecosystem – continues to search for ways to streamline and accelerate production processes while reducing cost and risk. Industry players have begun to revamp legacy title workflows to digitally connected, including title search automation, real estate research, property profile generation and document retrieval. Yet one crucial highly manual, inefficient component remains largely untouched… how title companies source property tax status information.

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DataTrace ® is proud to be recognized as a Gold and Bronze Stevie Award winner in the 19th annual Stevie® Awards program, specifically in the 2021 American Business Awards technology solutions category. The American Business Awards are the U.S.A.’s premier business awards program.

Our Rapid Legal and Vesting Report is recognized for supporting lenders and title insurance firms by harnessing artificial intelligence (AI) and optical character recognition (OCR) to drive workflow improvements through a single aggregation platform, TitleFlex™. The Rapid Legal and Vesting Report delivers the legal description from a property’s last full-value transfer and the vesting information from the most recent deed.

TitleIQ Enterprise is recognized for its nationwide title search and examination capabilities in a single platform. Powered by the industry’s largest title database, TitleIQ Enterprise delivers an efficient, automated process to produce title reports through a unique combination of nationwide data sources, unified title search workflows, robust examination and automation efficiencies that are directly integrated into leading commercial title production systems.

“We are honored to be recognized as a Stevie Winner for the fourth consecutive year,” said Robert Karraa, president of DataTrace. “The recognition of both our Rapid Legal & Vesting reports and TitleIQ Enterprise solution speaks volumes of our continued commitment and investments to deliver next-generation technology automation and unmatched data quality to the title and settlement services industries,” said Robert Karraa president of DataTrace.”

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Every real estate transaction—whether it is backed by a mortgage or is an all-cash deal—requires a determination of ownership and a clear transfer of title. That said, many companies still rely on legacy systems and manual processes to procure, search, and examine title. This slows the search and underwriting processes, makes them more prone to errors and delays closings at the expense of the homebuyer.

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Data is at the core of nearly all business decisions and departments. Real-time, accurate market research data empowers business leaders to make decisions based on facts, market trends and statistical data. But gathering market information can be difficult, time-consuming, and expensive.

Title companies may expend internal resources to locate the data but find it difficult to sift through the noise for the right information to then interpret and analyze the results for executives to make strategic decisions and position for growth.

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