Founded in 2005, we saw the opportunity to use technology in the title search industry to significantly improve the quality and turnaoround time. Since our inception, we have grown to cover most of the State of Connecticut, representing clients not only in state but also around the country and internationally.
At Bocaf, LLC, we understand that market trends have significantly changed the mortgage financing industry. These trends exert pressure to reduce costs and speed up production on all of the industry’s participants, including abstractors. For the foreseeable future, vendors will need abstractors to provide their traditional services faster and for lower costs. However, these goals cannot be accomplished using traditional methods of searching title without a reduction in quality. Therefore, our system allows us to offer lower prices and faster turnaround, while maintaining high standards of accuracy, by employing the following new strategies to improve efficiency:
1. THE USE OF TECHNOLOGY IN PERFORMING SEARCHES AND PREPARING REPORTS.
In the information age, much of the abstracting industry continues to rely upon pen and paper to complete most of its work. We have significantly improved efficiency by developing a proprietary software program, Abstractus, which assists in the performance of searches and the preparation of reports. Abstractus organizes information, provides checks to insure accuracy, remembers parties names thereby reducing redundant entries, includes easily accessible databases of common information, such as the recording of bank mergers and name changes, and prepares a clear typewritten report upon the completion of the search by a simple click of a button. Combined with each searcher being provided a laptop upon which to complete reports, preparation time is significantly reduced and accuracy increased.
2. THE USE OF TECHNOLOGY IN COMMUNICATION.
Significant delays result in the need for searchers to return to their offices to receive orders and submit reports. Our searchers avoid this delay because we supply them with wireless communication directly from the town halls in which they are performing their searches. This permits the searcher to receive orders while in the town hall and to submit reports to the client as soon as they are completed by fax or email. Our searchers receive your order as soon as you submit it. You receive our report as soon as it is completed .
Our lower rates and faster turnaround does not reflect lower quality; it reflects our ability to perform searches more efficiently enabled by our strategy described above.