Real estate title cos. get online closing system

Loop Information Systems, a provider of collaborative Internet services for the real estate industry, on Thursday launched ClosingSite, a Web-based service that enables independent title companies to manage the closing of real estate transactions via Internet, fax and e-mail.

ClosingSite allows for the management of closing documents, events and parties via the Internet. In addition to allowing all parties (including buyer, seller, agents, mortgage lenders, etc.) to share appropriate documents and schedule events, the system automatically notifies parties via e-mail of the availability of such documents and the completion of related events. A vital feature of the system is its ability to restrict access to certain documents, such as inspections, appraisals and mortgage papers, so that only the parties who should have access can view them.

Title companies using ClosingSite are able to provide their Realtor and mortgage-based clients direct access to documents and communications 24 hours a day. ClosingSite links to each client's individual Web site and integrates the look and feel of that title company's site. The ClosingSite service is maintained by Loop Information Systems along with all related hardware and software, relieving the title company of the burden of managing the information technology.

Houston, Texas-based Loop Information Systems Inc. is a privately held company.

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