Rynoh Solutions
Escrow Management Software
RynohLive is the solution for the real estate settlement industry. Our patent pending escrow management software program is a web-based “bridge application” integrating both bank and accounting software. This package provides revolutionary automation of a complex, time sensitive and demanding component of the real estate settlement industry-escrow account management and daily reconciliation. RynohLive consists of five functional modules:
Underwriter guidance and the law mandates that settlement funds may not be disbursed until they are on deposit and available at the bank. Defalcation and employee fraud are separate problems which can be virtually eliminated. RynohLive’s continuous account auditing, anti-fraud algorithms and built in reporting mechanisms monitor cash flow and individual file balances.
The national title underwriter is ultimately responsible for a settlement agent’s escrow actions. When a settlement involves the issue of a title policy, the underwriter provides an insured closing letter to the lender which guarantees the proper handling of settlement funds. Defalcation and fraud represent major expenses with the majority resulting from the owner, the agent or the attorney. RynohLive has the capability to provide the underwriter with real-time monitoring of agent escrow account operations. RynohLive alerts provide prompt notification of potential fraud and defalcation activity.