General American's 'Gators' take a bite out of real estate red tape

General American Corp., which has called Pittsburgh home for its 67 years in the real estate settlement services business, has developed something new.

It is headquartered in Gulf Tower, Downtown, known as the home of a rare pair of breeding peregine falcons. General American itself is the home of its own pair of "Gators."

General American's Gators, however, are computer software programs it uses and sells to other real estate settlement companies. The software cuts processing time for time-consuming but necessary real estate procedures such as title searches, appraisals and deal closings.

General American's software - Gators Enterprise and Gators Anywhere - have been accepted by the real estate settlement industry with good success.

In coming months, General American, which has been in the city since its founding in 1934, will consolidate its 300 Downtown employees, who are currently in both the Gulf Tower and the Manor Building, to the Gulf Tower by Jan. 31.

"We have leased a floor (in Gulf Tower) with 25,000 square feet for about 150 to 160 of our employees in the Manor Building," said Richard Snedden, president, chief executive officer and part owner.

With the consolidation, General American becomes the Gulf Tower's largest tenant, said Robert Geiger of Grant Street Associates, leasing agent for the building. General American will occupy in excess of 47,000 square feet in the 407,000-square-foot building.

General American sells its Gators Enterprise software to title settlement companies that have 50 or more users. Gators Anywhere is provided to smaller title agencies or settlement service firms.

The software eliminates the need for the smaller companies to invest in a large, wide area computer network when competing for large customer accounts, Snedden said. Title settlement companies that use the software can reduce processing time for activities such as title orders, closings, appraisals, property valuations and document preparation, he said.

At present, General American has 11 customers using its software systems, which was developed for its Direct division, the company's longtime provider of real estate settlement services.

Using the Gators system, General American was able to connect its three national processing centers and its network of more than 10,000 vendors. Last year, the company processed more than 500,000 mortgage transactions. Snedden expects firms that use Gators will process more than 1 million transactions this year.

Snedden said General American also employs 165 at its Richmond, Va. site; another 145 in Minneapolis, MN.; and 34 in Michigan.

"Our employment base is generally constant because we don't like to hire people and then have to lay them off if business slows," he said.

General American is one of a growing number of title settlement and appraisal management firms that are headquartered in the Pittsburgh region or have large operations here and provide service nationally.

Chief among them is Lender's Services Inc., with 650 employees, based at Cherrington Corporate Center in Moon, which started in the business in 1967.

A recent addition was LandAmerica OneStop. The Atlanta-based firm established a major operation here this summer at the Airside Business Park in Moon Township, and currently has 60 employees with 20 more soon to be added, said Shannon Cobb, who heads the local operation.

"By the first of 2002, we should have 100 employees," he said.

LandAmerica owns both Commonwealth Title Insurance and Lawyer's Title Insurance companies, both of whom have offices in Pittsburgh.

Also a major force in the title business is Credit-facts of America, located in Center City Tower, Downtown.

The company, a full service title company, recently linked up with RealEC Technologies as a service provider for their online transaction system. This will give Credit-facts the ability to provide title insurance and settlement services securely online.

Other companies, based in the region, dealing in title settlement and insurance services on a national basis, include U.S. Property & Appraisal Services, Express Financial Services, ValuAmerica Inc., Commonwealth Credit Services Inc. in Greensburg and USA Financial Services in Butler.