COMPLETIONmonitor and The CLC

COMPLETIONmonitor takes a preventative approach to negligence and fraud in conveyancing. It is an intelligent online software tool that dynamically evolves based on the specific lender requirements of a property transaction. It has been developed to address the areas of greatest risk within the Conveyancing process including Mortgage Fraud, Money Laundering, Failure to Register Title and Non Compliance with Lender Requirements. Suspicious characteristics within a transaction are automatically ‘flagged up’ in real time, immediately identifying cases in need of closer attention.

COMPLETIONmonitor builds upon LENDERmonitor, which enables firms to track changes to the CML handbook P2s. COMPLETIONmonitor ensures your completion check-lists are transaction and lender specific. Insurers are conscious of conveyancers failing to comply with lender specific requirements. This will bring to the attention of the conveyancer some of the more important specific requirements and thus reducing the chances of non-compliance.

The auditing and management information created by the COMPLETIONmonitor provides a real-time overview for administering the case load of even the largest firm and can be extended to insurers, lenders and regulators alike.

COMPLETIONmonitor addresses frequent claims relating to missed second charges and non registration of title plus it gives Insurers and Lenders comfort that there is uniformity in the standard of Conveyancing within a practice. The built in work flow system charts what is outstanding on any transaction and monitors those time limits so that they should not be missed.

COMPLETIONmonitor’s data capture and auditing functionality enables licensed conveyancers (and the individuals within that firm) to be independently and objectively scored; plus it collects information to allow errors to be picked up before a potential issue arises.

COMPLETIONmonitor has a built in supervision facility so that should something be about to be missed an alert can be sent to another fee earner or partner. Alerts work on a traffic light system according to how imminent a time limit is.

COMPLETIONmonitor links up with other data providers (such as Local Authority Search providers) enabling the information input by the conveyancer to be cross checked and thus reducing room for error.

There is no set up fee or licence fee. The system is online and hence just requires a log in and password. Our experience suggests fee-earners can be trained to use the system within an hour and those firms using the system indicate it adds about 10-15 minutes to a transaction at most. The training is carried out a by a member of the team who developed the software.

Ordinarily there is a charge per use on purchase of £10 plus VAT. However we are pleased to confirm that we have arranged for the service to be offered free of charge for all CLC members that access COMPLETIONmonitor via Prime. This offer is available for at least an initial twelve month period (from 1st January 2012), and is subject to terms and conditions which are available on request.

For further information please contact: Prime Risk Solutions, Princes Exchange, Princes Square, Leeds LS1 4HY

0843 506 5190
jfox@primeprofessions.co.uk
www.primeprofessions.co.uk