OrangeGrid LLC has selected Timios Inc. as the preferred provider of title, escrow, valuation and asset management services within OrangeGrid’s GridReady default management ecosystem. Additionally, Timios made a significant equity investment in OrangeGrid to increase distribution capacity, and the companies will collaborate on a number of co-marketing initiatives to accelerate market adoption of the solution.
Mortgage servicers who are GridReady customers will be able to seamlessly order title, escrow and valuation products and track fulfillment by Timios through the GridSource vendor management component of the ecosystem.
“The GridReady ecosystem is poised to disrupt default management by making modern workflow technology – which spans the business processes of both mortgage servicers and their vendors – easily accessible and rapidly deployable,” says Ray Davison, CEO of Timios. “Timios is excited to join OrangeGrid at the forefront of the digitization of mortgage servicing, enabling our servicing clients to experience the power of process integration that only OrangeGrid can provide.”
“We’re thrilled to welcome Timios as our first GridSource strategic partner and as an investor in our company,” comments Todd Mobraten, OrangeGrid’s CEO. “This equity investment will enable us to significantly scale our product delivery resources to meet spiking demand from the rise in default-related activity, and the addition of Timios, a first-rate nationwide provider of title, valuation, asset management and escrow services, will further enhance the value of GridReady for our mortgage servicing customers.”