Thinking to sign up for Resware? Read our review of Resware features to evaluate the portal and its abilities to meet your needs.

Title closings are getting digitized and the recent pandemic has only accelerated the process. More and more title companies are turning towards title closing software to digitize their operations to enable an easier, safer, cost-effective, and efficient closing process. But title software is not about digitizing the process alone. 

Several companies are offering a bunch of customer facing tools on the site that allows them to calculate and save cost sheets for their personal and order information. In other words, these tools are empowering the title companies to become self sufficient on top of digitizing the process. 

Table of Contents

In this post, we will look into Resware, one of the top title software and its numerous customer facing features to see if it does a good job in that department or not. We will conclude by comparing them to new age tools such as Elko and Qualia connect to get an idea of what title companies should expect if they choose to buy a Resware subscription.  

Closing Estimates

We see a total of 4 types of closing estimates provided by leading title software companies. They can either be generated using a floating widget or logging into the title company website. 

Title Quotes

Resware provides title quotes that allow your customers to calculate tentative closing costs for their property. The system requires them to fill in the Zip code, State, City, and Country to generate the estimate.  

Net Sheet

The resware system does not seem to provide seller net sheets separately.

Loan Estimate

You do not get to generate loan estimates in the Resware system. However, you do get to see an estimated loan amount in the system.

Closing Disclosure

Resware does not allow you to generate closing disclosure statements.

The floating widget is similar to the multiple chat gadgets that we see across websites these days at the bottom of the screen. Unfortunately, Resware does not provide a floating widget for your site, making it harder to engage your visitors instantaneously.

Order Management

Resware is built with the major order management features that allow your customers to place, manage, and update orders. Major features include:

Order Placement

The portal allows you to fill in the property address along with the order details such as transaction type, client’s file number, and preferred escrow officer to place an order. Order placement also requires details such as the tentative settlement date, details on the first and second mortgage, earnest money, etc.  

Order Update

Your customers can go back anytime to the “place order” section to update the order details. Alternatively, you can also upload your order form and save the details. 

Document Management

The document management feature in resware is very easy to use. It allows you to attach credit reports, wills, death certificates, and other necessary documents for the transaction. 

The list of recipients is listed against each document. All you need to do is to select the desired recipient for each document and the system makes sure it reaches them instantaneously. The system also allows you to review the documents and download them as well if needed. 

Tasks

Tasks are a part of the Resware workflow that you can define and configure. Tasks are automatically triggered by completing or performing certain actions. The system comes with something called action lists to manage tasks associated with your workflow. 

Order Fulfillment

Order fulfillment is an extension of the order management process wherein the order is mailed to the customer and tracked throughout its course. 

Shipping

Order shipping is the process of mailing the title order to the respective customers. The resware system shows the shipping date, address, tracking number, and status of the orders mailed and logged into the system. 

Funding/Disbursement

This portion of information shows the current status of the funds that the seller is supposed to receive from the lender. The Resware portal shows the Lender’s name, the mortgage amount, price breakup, and the name of the seller. It also shows the method of payment and additional documents required for validation. 

Partner Productivity

Partner productivity has gained paramount importance in current times. Most title companies are not tech savvy and ready made digital tools that help them acquire more customers and create a brand name makes a big difference. 

4 major features can potentially influence your productivity. These are:

Saved Costs

An option for saved costs allows you to download or save the title quote. Unlike modern tools, Resware does not allow you to save costs or title quotes. 

Co Branding

Many modern title software companies provide co branded pages that feature the logo of the title company. Some of them also provide co branded pages for title companies in separate subdomains. 

The Resware portal does not provide co brand subdomains. However, it allows you to put your company logo at the top of the interface.

Mobile Friendly

Mobile Friendliness has emerged as a key parameter across businesses and title insurance isn’t any different. Customers like to access the portal from their smartphones and expect it to work without glitches. Unfortunately, the Resware portal isn’t mobile friendly. 

Mobile App.

You do not get to use the portal using a mobile app either. There are no mobile apps available for the portal.  

CRM Features

We have identified a total of 3 essential CRM features provided by title software providers.

Contact Management

Resware provides contact management that highlights the names of the parties involved in a transaction. The portal also shows addresses, phone numbers, and primary contact information against the name of the customer. 

Activity Tracking

The Resware system has a dedicated option named “file progress” that shows the progress of a particular file into the process. You can see due dates, descriptions, status, and much more for a particular title file. 

Notifications

The Resware portal updates you with the latest events with all files active in the system. You receive email alerts for a selected number of events from the system. 

Pricing

One of the biggest drawbacks of Resware is that it needs to be self hosted, unlike modern SaaS systems. This makes Resware more expensive than other systems such as Qualia or Elko. Resware comes with an annual subscription plan. We are not sure of the price at this moment but it is probably priced at around $2500-$3000 a year. 

Resware Alternatives

Resware requires traditional on premise infrastructure to function. This is why we are going to consider some modern SaaS based tools that have an edge over Resware. 

Elko

If you want to give your customers the ability to generate multiple types of closing estimates, then Elko is the best option for you. The Elko floating widget and closing estimate calculators are far more reliable than anything available out there in the market. Additionally, the Elko widget is also mobile friendly, adding to the experience further.

Qualia Connect

If you want a great mobile experience with the width of all the Resware then you should go for Qualia Connect instead. The qualia platform is also packed with other modern features that make the closing experience very delightful for your customers.