Paper-based systems have long been a thorn in the side of those who are responsible for the management of real estate fund transfers – so one company decided to do something about it.
recently unveiled its newest product aimed at helping legal professionals work more efficiently: EasyFund.
“Having a product like EasyFund available to me is a game-changer,” says Jerry Korman of Korman LLP located in Mississauga, Ont. “It enables me to securely manage the transfer of real estate funds online, when and where it’s most convenient for me. This is going to be a huge asset for me and my team to help increase efficiency, while more easily managing the risk associated with an out-of-date, paper-based payment system.”
Through FCT’s LLC portal, EasyFund offers legal professionals the ability to securely manage the transfer of real estate closing funds online, effectively reducing the need for certified cheques, bank drafts, direct deposits and couriers.
Lori Sartor, vice-president, residential solutions for FCT, explained the rationale behind the offering.
“FCT is committed to partnering with legal professionals across the country to create solutions that save time and money and reduce risk. We truly value the relationships we have built with law firms, big and small, and are constantly looking for new and innovative ways to add value to all of our interactions,” says Sartor. “EasyFund is yet another way we hope to do just that.”
Currently in pilot, EasyFund is being tested by a number of diverse law firms within the Greater Toronto Area to garner user feedback before its official launch in Ontario later in the year.
Founded in 1991, the FCT group of companies is based in Oakville, Ont., and has over 800 employees across the country. The group provides industry-leading title insurance, default solutions and other real-estate-related products and services to approximately 1,250 lenders, 43,000 legal professionals and 5,000 recovery professionals, as well as real estate agents, mortgage brokers and builders.