RamQuest Unveils Digital Services Platform at National Settlement Services Summit

2005.06.14 - Cleveland, Ohio - Today at the National Settlement Services Summit, RamQuest Software, Inc. announced their latest solution, Closing Market™. This revolutionary service, available to anyone in the Settlement Industry, is a digital platform that allows participants to order, exchange, and market products and services required in the Real Estate Closing process.

According to the Closing Market™ business model, anyone can order and provide a product and/or service. Businesses interact with other businesses based upon pre-arranged agreements with each other for products and services. When this happens, the businesses then become “Trading Partners” in the digital marketplace, ready to digitally order or fulfill a product and/or service with each other.

Behind the scenes, Closing Market is a digital platform that consists of a Web Services-Based Architecture. These web services are written in combination with Microsoft’s .net leveraging the power and capability of the framework it provides. Closing Market™ allows businesses to communicate in a real-time, purely digital environment, and according to RamQuest, “Will “bring the Settlement Industry together.”

Mark McElroy, CEO of RamQuest Software, Inc. says, “Our primary objective with Closing Market is to bring all of the participants in a closing closer together with the technology that’s available today. Too many different systems in the Settlement Industry, as a whole, have caused communication between them to be difficult, expensive, or both. We believe that this digital platform will not only provide a cost-effective way for companies with different systems to communicate, but also revolutionize how the entire Settlement Industry will do business.”

So what are some of the services that can be fulfilled digitally? To start with, Calyx Point software users can submit orders from their desktop application directly to a title company of their choice on Closing Market™. Title companies can order a Patriot Search from Charles Jones, Inc., and lenders can collaborate online with a title company via the HUD-1 Online service.

Frank Bolton, Vice President of the Title Company of Denver comments, “We are currently using Closing Market to receive orders and exchange information. The Calyx Point interface has proven to be very stable and we feel this gives us a real competitive advantage over title companies who cannot electronically receive orders from Lenders who use Point. If this is not the future of how the settlement industry communicates, I don't know what is.”

About RamQuest
Headquartered in Plano Texas, RamQuest is currently being utilized for Title Closings in all 50 states. The company was founded in 1991 with the sole purpose of developing complete solutions for the Land Title Industry. For more information on RamQuest Software, Inc., please visit www.ramquest.com.