CHARLOTTE, N.C., May 06, 2020 (GLOBE NEWSWIRE) -- LemonBrew Technologies is an innovative, full-service real estate platform that streamlines the real estate process from start to finish. By providing real estate, mortgage and title services, LemonBrew is an end-to-end digital solution that connects home buyers and sellers to local real estate agents, finds the perfect mortgage, and closes smoothly and seamlessly. Today, LemonBrew Technologies announced its partnership with Qualia, the leading cloud-based real estate closing platform, to power LemonBrew Tech’s national expansion and transition toward contactless closings. LemonBrew Abstract, the title & escrow vertical of LemonBrew, has signed on Qualia as its technology platform of record as they expand their operations. Originally servicing only New Jersey and Pennsylvania, LemonBrew Abstract rolled out in local markets across North Carolina and Florida in the fall of 2019, has recently grown to 19 states, and is planning a nationwide expansion throughout 2020.
In a recent survey Qualia conducted on title companies’ response to COVID-19, the company found that despite the broader real estate market declining, 62% of survey respondents saw order volume stay the same or increase in the first few weeks after shelter-in-place orders started. This is a result of record-low mortgage rates spiking refinances. LemonBrew has seen a 22% increase in refinances since the beginning of March.
“As a real estate platform that handles real estate transactions from the homebuying search all the way to the closing, we’ve seen housing demand and supply go down, but conversely, refinances go through the roof, and we are committed to staying open for business and supporting our partners and clients through this unprecedented time and beyond,” said Amit Doshi, COO of LemonBrew. “We are excited to work with Qualia as our title & settlement technology platform to build efficiencies, take a fresh approach to how our team handles workflow, and enable not just digital closings, but seamless contactless closings that provide us with the ability to ensure excellent service to our clients.”
Qualia’s cloud-based solution has allowed LemonBrew to mobilize its team quickly and stay connected digitally in compliance with social distancing orders. LemonBrew uses Qualia to share documents, store search work digitally, receive real-time updates on county recording office closures, and collaborate with clients and partners. With Qualia, closing packages are delivered electronically to clients and notaries, final title policies and recorded mortgages are delivered digitally to lender partners, and LemonBrew is able to create and adapt its closing process for clients quickly and without the need for additional technology builds.
Due to increased transaction volumes, LemonBrew plans to continue to expand its national reach this year. Qualia’s technology has been and continues to be instrumental in LemonBrew’s transition from a small, regional title agency operating in only three states to a much larger company with a soon to be national footprint.
Since implementing Qualia as their digital closing platform in fall 2019, LemonBrew Abstract has seen a 90 percent month-over-month increase in their underwriting production. Additionally, Qualia has allowed LemonBrew to reduce overall processing time from order opening to closing by 23 percent over the last 90 days. LemonBrew is also part of Qualia Marketplace, which allows them to easily connect with national vendors as they grow their operations, and they use Qualia Connect to bring their partners and clients onto one shared platform for a transparent, easy-to-understand, and predictable closing experience.
“LemonBrew is a high-growth real estate technology company that is taking an innovative approach to the brokerage model, and we’re excited to play an integral role in their expansion and transition to contactless closings,” said Nate Baker, co-founder and CEO of Qualia. “With our nationwide ecosystem of real estate professionals and a cloud-based platform that has the scalability to handle high volumes of transactions, we are uniquely positioned to support and scale LemonBrew’s growth for the years to come.”
Named a Top 20 Title Agency by Fidelity National Title Insurance Company, LemonBrew Abstract currently services the East Coast, Midwest and West Coast. Over the course of the next six months, LemonBrew will be adding additional states, bringing its platform to 32 states and completing its national footprint by the end of 2020.
This expansion powered by Qualia will bring LemonBrew’s technology features, such as LemonBrew’s proprietary electronic transfer platform, LemonBrew Pay, to more clients and service providers across the U.S. The LemonBrew Pay platform allows LemonBrew’s clients to safely and securely deliver electronic transfers for funds required for settlement or earnest money deposits from any location, 24 hours a day, and for no additional fee.
Clients who use LemonBrew’s real estate or mortgage services are not required to use LemonBrew Abstract but choosing LemonBrew Abstract and staying within the LemonBrew ecosystem does make the closing process more efficient and seamless.
To learn more about the LemonBrew-Qualia partnership, please visit our blog.
About LemonBrew Technologies
Built by experienced entrepreneurs and operators in the real estate and mortgage industry, LemonBrew is at the intersection of technology and purpose, filling the gap in the real estate market by providing an end-to-end digital solution allowing home buyers and sellers to connect with real estate agents, find the right mortgage, and close smoothly. Positioned to be an industry leader with innovative technology, LemonBrew was named a 2020 HousingWire Tech100 Real Estate Winner. For more information, visit https://www.lemonbrew.com/.
About Qualia
Qualia is a digital real estate closing technology company that provides the infrastructure to streamline the home closing experience. The company offers a suite of products that brings together homebuyers and sellers, lenders, title & escrow agents and real estate agents onto one secure shared platform. Qualia was founded in 2015 by Forbes 30 Under 30 Award recipients Nate Baker, Joel Gottsegen and Lucas Hansen. Since launching, the company has been named an ALTA Elite Provider, grown to over 250 employees, and recognized with the Great Place to Work Certification. The company is a leader in industry security and was the first technology company to join the Coalition to Stop Real Estate Wire Fraud. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX. For more information on Qualia, visit www.qualia.com.
Press contact:
Erica Perng
Qualia
press@qualia.com