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SUCCESS STORY
Removing the stress of HOA documentation
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About Homeward
Homeward empowers their customers by providing a stress-free homebuying experience. A team of leading underwriters with decades of diverse real estate transaction experience ensures a clear title for each customer.
Homeward is a forward-looking, rapidly growing company, with the ambition and desire to leverage technology to their advantage.
It is always great when someone has your back in a tedious and stressful process. A great business partner that you can rely on in any situation is crucial for success. Homeward found such a partner in Rexera, and now they can focus on their customers while Rexera takes care of the HOAs.
THE CHALLENGE
Homeward has a complex business model where there are two closings instead of one. First, Homeward buys the home with cash. Then, the buyer buys it back from Homeward with their mortgage. So there are two contracts, two closings, and two transactions happening very close in time to each other. For Homeward, it created extra friction on top of the usual frustrations of ordering and chasing HOAs for the documents.
Homeward’s production staff was ordering HOA documentation directly either from management companies or smaller HOAs. This left a lot of margin for error when managing the documents, like missed documents or HOAs, late ordering, etc. The team had to order the new documents while keeping in mind updating the existing documents, and staying ahead of the deadlines. If something was missed or delayed on one of the transactions, two transactions were falling through.
They needed a reliable partner to have their back throughout the whole process.
“As we all know, HOA issues can really blow up and cause a lot of problems for closing. So it helps us all sleep better knowing that there is not going to be a problem, or anything we forgot on the order, or an update that we forgot to complete before closing the transaction. Because we have a great partner Rexera, making sure that those things don’t happen to us.”
Brad Honn
Senior Director of Escrow and Title Operations at Homeward
THE SOLUTION
Homeward partnered with Rexera to remove the frustrations and stress of acquiring and managing HOA documentation from their team. The Rexera team took over everything HOA-related, including the communications with HOAs.
Now, for every transaction, Rexera acquires the documents, follows up with HOAs and PM companies, regularly updates Homeward’s team on the progress, and makes sure every transaction runs smoothly. Throughout the years of successful collaboration, Rexera has become an integral part of Homeward’s processes.
“The service that Rexera provided to us and a great business partner that they’ve been for us, it’s not static. Our relationship has very much evolved in the past couple of years that we’ve worked together.”
Brad Honn
Senior Director of Escrow and Title Operations at Homeward
To simplify Homeward’s processes as much as possible, Rexera has built custom features to help the team better organize their transactions. Features like pre-ordering transactions far ahead in time and invoicing upgrades have saved Homeward’s team the hassle of chasing the documents between the 2 transactions.
Rexera delivers the documents exactly on time, every time. No stress, no frustration, and no unnecessary rush fees.
THE RESULTS
Rexera takes on the responsibility of acquiring and updating HOA documentation, saving Homeward the time and stress of going back and forth with the HOA and making sure no document is missed.
Rexera also provides transparency and recurring updates on the document status and keeps Homeward’s team in the loop on any progress, keeping them in control of the transaction the whole time. This is one of the main reasons why “we like Rexera so much,” according to Brad.
Homeward has reported a higher employee satisfaction rate:
“I think most people that are in this position, where you have to order HOA documentation are sick and tired of ordering HOA documentation. When they onboard, we tell them that they don’t have to do that anymore, and they just have to place the order with Rexera. It gets an overwhelmingly positive reaction”
Brad Honn
Senior Director of Escrow and Title Operations at Homeward
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