The benefits of blockchain as a solution for title and escrow transactions and necessary obstacles to overcome
LUXEMBOURG, Feb. 19, 2019 (GLOBE NEWSWIRE) -- Premium Title, a national provider of title and escrow services, today released a white paper entitled, “Blockchain Disrupting the Title and Settlement Industry: A Practitioner’s View.” The white paper provides the benefits of a blockchain solution and the obstacles to overcome for blockchain to change how title insurance and settlement activity is performed within the real estate industry.
Blockchain technology is evolving quickly in today’s FinTech segment and there are companies looking at ways to revolutionize and disrupt the title and settlement services industry. While the industry has experienced a dearth of meaningful technological innovation, most of the innovation revolves around automating archaic systems rather than promoting revolutionary thinking. Blockchain may provide a needed boost to disrupt the title and settlement industry.
There are numerous purported benefits for blockchain technology and most of them revolve around four main categories – transactional integrity, security, elimination of third-party intermediaries and speed. It is with these core benefits in mind that the white paper looks at the title and settlement transaction and some obstacles that might need to be solved to realize these sweeping benefits.
Click here to download the white paper, “Blockchain Disrupting the Title and Settlement Industry: A Practitioner’s View.”
About Premium Title™
Premium Title is a national provider of title and settlement services to the mortgage and real estate industry. Premium Title issues title insurance and performs closings for refinance, reverse mortgage, HELOC transactions, REO and non-default purchase and sale transactions, and bulk single-family purchases and refinances. Our customized solutions integrate directly with leading loan origination software, creating efficiency in the closing process. Premium Title is ALTA Best Practices certified and holds a #1 rating from Morningstar. Premium Title is part of the Altisource Portfolio Solutions S.A. (ASPS) family of businesses. For more information, please visit mypremiumtitle.com.
Altisource Portfolio Solutions S.A. (ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve. Additional information is available at altisource.com.
Source: Altisource Portfolio Solutions S.A.