OEC's Win Escrow Closing System is designed to allow complete customizable control over the entire Closing process by implementing an ENTER-IT-ONCE approach to preparing documents and checks. The system uses an SQL database to provide features such as:

Data entry in a simple fill-in-the-blanks, mouse driven process with verification of valid input.

"Tickler" reminder system for each account and for each officer.

Automatic e-mail notice messages on completion of payoffs, title documents, etc. Messages are "soft-coded" by the end user.

1031 Exchange Escrows can be setup with Accommodator options to control how documents are vested and signed.

Escrows can by copied in whole or part, with the option to swap buyers and sellers. Escrows can also be renumbered or deleted, provided there are no checks or deposits on file.

Lookup List of "fixed" names & addresses for Source of Business, Lenders, Realtors, Brokers, Government agencies, etc. to automate and standardize frequently used information.

Notepads for operator defined text as well as selectable standard document phrases.

Payoffs can be flagged to require a set number of Interest Mailing Days to prevent checks being cut with insufficient interest.

Unlimited Rent Schedule prorates for rent, security deposits, and last month's rent per unit.

Option to flag amounts as Paid-By-Seller and produce a PBS report listing such amounts to check against the Lender's limit. Hot-key option to display total PBS amounts on the screen.

For HUD purposes, there is an option to allow override of the “Paid To” name on Loan Fees.

Option to pull Legals and Exceptions from OEC's Prelim/Policy Production system.

Option to generate Escrow setups from OEC's Title Order Entry system.

Automatic calculation of closing, collection, and title fees.

Automatic generation of a Disbursement Worksheet showing expected cash-to-come, loan proceed disbursement, and expected checks.

Automatic generation of an updated Cash Ledger Card.

Automatic generation of disbursement checks and/or wire transfers from the details entered.

Custom check writing options: restrict printing of zero ($0.00) checks, restrict over-drafting the escrow, and allow disbursements to be changed to check or wire at the time of printing. Once checks have been updated, the related detail records cannot be modified.

Deposits can be entered individually within an escrow, or in a batch under “Pending Deposits” on the Manager’s Menu. Receipt forms can be customized for individual banks by the end user.

Updated deposits can be edited to change or correct the escrow number, type, or date.

Access to menus, reports and screens can be restricted based on each user's security level.

The system is able to support multiple escrow offices with multiple banks, and includes automated Interest Bearing Account processing.

Trust accounting reports:

Daily and MTD receipts and disbursements Journals
Trial Balance by Bank and Branch
Fee reports by officer and by G/L account
Control Total reports
Account status reports by officer
Source of Business report
Check reconciliation
IRS Magnetic Media for 1099S filings
Reconveyance / Release Tracker

Appearance and wording of source documents under the complete control of the end user via Microsoft Word. Currently there are over 200 standard documents, including Closing Statements, HUD documents, and Trust Deeds.

Documents allow incorporation of user-defined variables for fill-in fields not included in the database.

Documents are generated (not stored) so that the latest adjustments always appear. Editing of output documents is controlled by security level settings. Documents may also be generated to Adobe PDF encrypted format for e-mailing.

Master Documents can be setup to quickly select and print common groups of documents.

The Win Escrow system can be setup in any size office. It can be installed on a variety of servers. Entries made to the Escrow SQL database are immediately updated to the server and not cached on each PC, although an Undo option is always provided.

OEC has over 27 years experience in the ESCROW / TITLE / COLLECTION industry, with many proven installations across the entire Northwest.

Give us a call today for more information on how we can help your company manage its data!