CastleLink Adds Online Documents' Preparation Technology
CHICAGO, Jan. 12 /PRNewswire/ -- Online Documents Inc. and Chicago Title
Corporation's (NYSE: CTZ) CastleLink division announced a new partnership
today that adds Online's mortgage document preparation software to the real
estate-related services already available electronically through CastleLink.
"Our goal is to be the premier source of multiple mortgage services to the
national lender community, and this partnership helps us to do that," said
Chris Canedy, senior vice president of CastleLink. "In our view, its products
and technology make Online the premier document preparation company in the
industry, not only the largest company of its kind, but the best."
For Online, the partnership represents an opportunity to expand the reach
of its own document preparation service. "CastleLink offers a tremendous
array of real estate information, and we feel document preparation is a
natural expansion of that service," said Stan Baldwin, vice president of
Online Documents Inc. "We're very happy to be working with CastleLink.
Serving its customer base is a tremendous opportunity for us."
Online provides mortgage document preparation software and expertise to
mortgage professionals across the country. Online's document-preparation
software maintains links to customers' in-house systems and automatically
updates documents with any regulatory changes on a national, state or local
level. With the software, customers will be able to prepare and print
documents anywhere in the United States within minutes.
Online's mortgage document-preparation package will be available to
CastleLink customers via Chicago Title's technology initiatives. Chicago
Title announced in early 1998 a multimillion-dollar project to create an
"electronic spine" that will give its customers the ability, through a single
electronic connection, to order, track, receive and be billed for all company
products. Online's document preparation technology will be integrated into
this menu of services.
"The easy integration of Online's service into CastleLink and the
scalability of their technology will enhance CastleLink's service to customers
that have large document requirements," said Canedy.
Commenting on the proposed agreement, mortgage technology consultant Jeff
Lebowitz said, "Our studies of the industry indicate that a significant
segment of lenders demand one-stop-shopping of loan origination services.
This transaction should allow two major industry players to offer a combined
solution that functions more effectively than either service could
independently." Lebowitz is president of SSP associates, a Silver Spring,
Md.-based mortgage technology consultancy and publisher of The Mortech Study.
About Online Documents Inc.
Concord, Calif.-based Online Documents Inc. is a nationwide provider of
mortgage document preparation software. Online's document preparation
software maintains links to customers' in-house systems and automatically
updates documents with any regulatory changes on a national, state or local
level.
For more information on Online, contact Stan Baldwin at 800-488-9320 ext.
153, or write to Online Documents Inc. at 1320 Willow Pass Road, Suite 300,
Concord, Calif., 94520.
About Chicago Title Corporation
Chicago Title Corporation, through its subsidiaries, provides title
insurance, escrow and closing services, as well as property valuation, credit
information, flood compliance, property information/inspections and default
services through a network of more than 300 offices and approximately 3,800
agents nationwide. Chicago Title Corporation's title insurance subsidiaries
-- including Chicago Title Insurance Co., Ticor Title Insurance Co. and
Security Union Title Insurance Co. -- issue approximately one in every five
title insurance policies in the United States. Other real estate-related
services subsidiaries include Chicago Title Flood Services Inc.; Chicago Title
Credit Services Inc., Chicago Title-Market Intelligence Inc.; Chicago Title
Field Services Inc. and Consolidated Reconveyance, a division of Chicago Title
Insurance Co.
The statements made in this press release contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Act of 1934 that involve a number of
uncertainties and risks that could significantly affect current plans and
anticipated actions and Chicago Title's future financial condition and
results. In addition to the matters described in this press release, risk
factors listed from time to time in Chicago Title's reports and filings with
the Securities and Exchange Commission, including the Information Statement
included in its Registration Statement on Form 10 (File No. 1-13995) and
furnished to the stockholders of Chicago Title's former parent, Alleghany
Corporation, in connection with the spin-off of Chicago Title by Alleghany,
may affect the results achieved by Chicago Title.
SOURCE Chicago Title Corporation
 back to top
Related links:
http://www.ctt.com
CONTACT:
Media, Stephen Flanagan of Chicago Title,
312-223-2461, or Stan Baldwin of Online Documents Inc.,
800-488-9320, ext. 153; or Analysts, Toshie Davis of Chicago
Title, 312-223-4788
NOTE TO EDITORS: For further information on the Chicago Title
Corporation's products and services, visit our web site at
http://www.ctt.com
|
