Settlement Room (www.settlementroom.com) uses separate, secure Web sites for each settlement and loan transaction, says company founder and president, Jonathan Cutler. More than 10 different parties participate in 20 different steps that must concurrently take place before a real estate transaction is finalized, he says. As a real estate agent, Cutler developed the industry-specific ASP because he needed it. After a year of testing and refining, it is now ready for the marketplace, he says.

Features of the software include document distribution, file archiving, case tracking, vendor and client communications, checklist management, and a comprehensive reporting tool. The software costs $29.95 per transaction, which includes unlimited access by all users and an archive CD mailed at the end of each month.