Allied Title & Escrow has partnered with Earnnest to be the first title company in the region offering digital transfers of earnest money deposits (EMDs) through Earnnest’s innovative technology platform.
Earnnest enables buyers to securely send EMDs directly to Allied Title & Escrow from the buyers’ financial institution through a proprietary way of using ACH payments, mitigating the risk of wire fraud and eliminating the inconvenient use of paper checks.
Allied Title & Escrow is a team of industry experts and attorneys with more than 30 years of experience. The company provides residential and commercial services throughout Virginia, Washington, D.C., and Maryland.
“Allied is committed to investing in best-in-class technology to make real estate transactions easier for buyers, sellers, agents and developers,” says Allied Title & Escrow CEO Latane Meade. “We’re excited to partner with Earnnest to give our clients a cutting-edge solution to an obvious industry issue.”
To address current EMD complexities, Earnnest connects to 12,000 banks nationwide, and has banking-level security and encryption. Earnnest sends updates on money movement to agents, buyers and escrow holders throughout the transaction.
Additionally, buyers no longer have to pay a $30 wire fee; Allied Title & Escrow is covering the cost of the transaction.
“We’re thrilled to announce this partnership with Allied Title & Escrow,” says Rick Altizer, Earnnest CEO. “They are known for excellent customer service, and through Earnnest, clients will receive an added level of convenience and value.”
Adds Meade: “Using Earnnest, our buyers can easily transfer EMDs through their bank using ACH payments, without a $30 wire fee or 30-minute drive to drop off a check. This partnership provides a win-win for everyone.”