AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Allied Title & Escrow Partners with Earnnest to Digitize Earnest Money Deposits

November 12, 2019 GMT

GREENVILLE, S.C.--(BUSINESS WIRE)--Nov 12, 2019--

Allied Title & Escrow, the fastest-growing title company in DMV (Washington, D.C., Virginia and Maryland), has partnered with Earnnest, the future of real estate payments, 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,” said 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,” said Rick Altizer, Earnnest CEO. “They are known for excellent customer service, and through Earnnest, clients will receive an added level of convenience and value.”

Added 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.”

ABOUT ALLIED TITLE & ESCROW

Allied Title & Escrow is a team of industry experts and attorneys with 30+ years of experience providing residential and commercial services throughout Virginia, Washington, D.C. and Maryland. Visit www.alliedtitleandescrow.com.

ABOUT EARNNEST

Greenville, S.C.-based Earnnest is changing how money moves in real estate, allowing buyers to securely and electronically deposit funds directly to an escrow holder. Earnnest keeps agents, buyers and escrow holders in the loop with automated emails and tracking information. Visit Earnnest.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191112006008/en/

CONTACT: Melissa Kandel, Chief Marketing Officer

melissa@earnnest.com; (949) 903-9752

KEYWORD: SOUTH CAROLINA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY RESIDENTIAL BUILDING & REAL ESTATE SOFTWARE FINANCE CONSTRUCTION & PROPERTY BANKING

SOURCE: Earnnest

Copyright Business Wire 2019.

PUB: 11/12/2019 04:00 PM/DISC: 11/12/2019 04:01 PM

http://www.businesswire.com/news/home/20191112006008/en