FOR IMMEDIATE RELEASE
NexGen Compliance Solutions, LLC
CONTACT: Jeffrey C. Adam
401-239-5300
jadam@nexgencompliance.com

Entrepreneurs help homebuyers find credits, lower rates and reduced closing costs

MIDDLETOWN, RI (September 2, 2009) - Hard times have a history of breeding great innovation and opportunity. Just ask Jeff Adam and Nick Liuzza of NexGen Compliance Solutions, LLC, a Middletown-based software company.

"Our new TitleHound software is a task-oriented rate search tool designed to find the best available rates, premiums, and credits in the complex world of title insurance," said Liuzza. "The product received great acclaim as soon it was introduced to the marketplace and today it is saving consumers hundreds of dollars per transaction. We are very proud."

NexGen’s TitleHound product immediately caught the attention of mortgage brokers and lenders who could benefit by offering consumers discount rates and lower pricing on title insurance and thereby close more loans. In July, Liuzza and Adam’s TitleHound application was integrated into the Calyx Point® software system used by most brokers in the US.

With a few clicks, brokers can search the five major underwriters and determine the lowest rates available when they use this inventive patent pending software. Additionally, the web-based software program searches a list of available discount rates for first-time homebuyers, military pers onnel, and senior citizens, all of whom are eligible for special consideration. The product also ensures that the re-issue rates are always offered when applicable, a practice not always extended to the consumer even though they may have been eligible.

Liuzza’s company, Linear Title & Closing, ltd., began the development of its TitleHound product as a reaction to the faltering real estate market in the early summer of 2008. During the development process, Liuzza approached Adam to assist with moving the product to market. Jeff Adam brought product development expertise and helped raise much needed funding for NexGen, which then acquired the innovative software product from Linear.

Both Adam and Liuzza saw the opportunity for products focused on lending and legal compliance, like their web-based rate search tool. The application not only searches to find consumers and lenders the best possible rates and premiums, it also provides timely data to lenders to ensure their Good Faith Estimates are within 10 percent of the final cost – a new statute under the Truth and Lending Act.

"We have a strong management team, and my focus as President and CEO has been to solidify the marketing message while expanding our distribution channel, the NexGen Network," said Adam. "The NexGen Network is comprised of some of the finest title agencies in the country, which will allow us to scale the delivery of the best available rates while benefiting consumers and homebuyers."

The success of this new venture is a prime example of companies taking advantage of opportunities that become evident in a depressed economy, and proves innovation and creativity at its best is alive and well in the Ocean State.