Flueid, a developer of software solutions for digitizing every stage of the real estate transaction, has been awarded a patent related to its Flueid Decision platform, which the company says is used by title insurance underwriters and lenders to centralize and automate title clearance decisions in less than a minute.

U.S. Patent 11,095,756, granted Aug. 17, is “another milestone in the company’s vision of commercializing a digital solution for every market segment along the real estate journey,” the company said in a statement.

Founded in 2017 and self-funded by Title365 veterans Peter Bowman and Peter Richter, Flueid Software Corp. announced a Series A funding round led by Aquiline Technology Growth (ATG) in February. Last month, Flueid disclosed that it had acquired the core proprietary technology and related assets of Vodii, a developer of software tools for the title and escrow industry.

Originally branded as Insurful when it launched last year, Flueid Decision “is designed to compress the closing timeline by expediting and digitally enhancing the title search processes using traditional and nontraditional data sources, proprietary logic, and insights,” the company said. The platform is multi-tenant and agnostic, meaning “it’s not owned or managed by any one underwriter, title agent, lender, servicer or service provider and is not focused on any one component of the real estate lifecycle.”

To validate the Flueid Decision platform’s data security controls and best practices, the company sought and obtained SOC 2 Type 1 compliance in March 2021 and Type 2 compliance in June 2021 (here’s a primer on what these mean).

Peter Richter

“We built Flueid from the ground up with security and data handling at our core, putting thought into the architecture and design to ensure it would support the control framework that allows the customer to control their own data,” Richter said in a statement announcing the patent award. “Our agnostic, multi-tenant platform allows for a unique, future-proof environment for each client. We then transfer ownership and management to each client to ensure their data, and their client’s data, are both physically and logistically separated from other clients or outside access.”

The Austin, Texas-based company’s other offerings include Flueid Pro, a marketplace aimed at automating title and escrow closing practices, and Flueid Built, a suite of services designed to help title companies scale their offerings and control their workflow.

Flueid’s website touts “strategic alliances” with companies including Blend, Boston National, and JFC Lending. Blend announced an agreement in March to acquire Title365 from Mr. Cooper Group for $422 million. This week Blend said that the Title365 acquisition closed in the second quarter and that “integration work is well underway.”

Last week, First American Title Insurance Co. announced that it was making an automated title decision engine, Clear2Go, available to title agents, enabling them to offer same-day title decisions on some mortgage refinancings and home equity loans.

Rival title insurer Doma offers “instant underwriting” of title insurance for mortgage refinancing, and streamlined remote and digital closing and escrow services for all types of mortgages.

Email Matt Carter

mortgages | technology
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription