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County Recorders Increasingly Embrace Electronic Commerce: 'If you're talking about e-recording lien releases, it's a quick transition.'.
NEW YORK -- While many have contended that county recorders are a hurdle to e-mortgage adoption, that is no longer the case. About 50% of loans done today can be e-recorded, and county recorders are waiting for lenders to realize the benefits and embrace this technology shift in mortgage lending.
"The big message for e-recording is that it is open for business," pointed out Encomia president Andrew Dubinsky. "There are a few more counties that have come online and have invested in systems. However, they want to see activity.
"Today there are a number of lenders doing e-recording around lien releases for example. Some lenders are doing e-recording on the deed as well. That's in a lot more counties than people believe. You can e-record about 50% of the mortgages in the country today. That's a critical mass and the title companies are on board as well. It's a function of lender demand now," he said.
The return on investment when embracing e-recording is equally as clear. "There's an easy pick up with e-recording," reported Mr. Dubinsky. "On the e-mortgage front it's nice not to have any paper. This completes the paperless movement in that there's no paper at all, its not paper being scanned. If the borrower is signing online and the lender is doing e-notes, that's a big win. Some people have thought the lack of adoption on the county level was a barrier, but that is no longer true.
"There are a number of vendors in the e-recording space that have their ear to the counties. No one vendor has all of the counties in all of the places with all of the functionality. As a lender you need to look at where you do business and which vendor has good overlap with you," he noted.
"You need to ask which areas the vendor is connected to and if that's a direct connect or if it's there by a third-party connection. You'll pay more if it isn't a direct connect. There are a number of different types of e-recording so it's important to know what capabilities the county ...
- County Recorders Want 'E-Mail Before E-Mortgages'.
- Magazine article from: Origination News Grant, Rick January 1, 2002 700+ words
...that takes place in the offices of county recorders across the country, one executive...Primarily those are things like lien releases and assignments." Ingeo, based...cutting edge, Mr. Hougaard says that county recorders across the country are starting to...
- Technology Called Crucial for Managing Lien Releases.(Cendant Mortgage Corp....
- Magazine article from: Mortgage Servicing News April 1, 2002 700+ words
...sure documents are recorded, not just delivered, essentially making lenders liable for backlogs and delays within the county recorders' offices. Bank of America has developed middleware that is used to pull data from various sources for lien release purposes...
- Unconditional or conditional lien releases choose carefully or lose your lien...
- Magazine article from: Business Credit Schwartz, Robert February 1, 2005 700+ words
...made. Although the requirements for lien releases vary from state to state, some jurisdictions...specific formalities to be followed before lien releases will be valid. (See California Civil...have provided for different types of lien releases depending on how payment is made...
- Servicing technology: Automation Key To Efficient Lien Releases.
- Magazine article from: Mortgage Technology April 1, 2002 700+ words
...like just about every servicer, had an unusually large number of lien releases to record last year because of the refinancing boom. In fact, Cendant's 150,000 lien releases were more than twice what the company budgeted for, according to...
- Visionet Systems' VisiRelease Processed More Than One Million Lien Releases and...
- Press release article from: Business Wire February 20, 2007 700+ words
VisiRelease Handled 12 Percent of All Lien Releases Processed in 2006 SAN DIEGO -- Visionet Systems has reported...outsourcing service providers), processed 12 percent of all lien releases in 2006. This milestone was reached just 24 months after...
- VisiRelease Helps Lenders 'In-Source' Lien Releases.
- Magazine article from: Mortgage Servicing News May 1, 2005 700+ words
...to automation. Using the VisiRelease software, Mr. Masood said he can comfortably say that a lender can manage 10,000 lien releases per month with a staff of just six or seven people. "The way we differentiate ourselves from the rest is that these products...
- Oklahoma County Clerk: State Tax Lien Releases
- Newspaper article from: The Journal Record June 14, 1996 700+ words
STATE TAX LIEN RELEASES Received 6/12/96 B 6900 P 2025 -- Advanced Business Communication. B 6901 P 187 -- Certified Contractors & Supply. B 6901...
- Oklahoma County Clerk: Federal Tax Lien Releases
- Newspaper article from: The Journal Record June 24, 1996 700+ words
FEDERAL TAX LIEN RELEASES Received 6/20/96 4749 -- William R. Meade, $4,051. 4750 -- William R. Meade, $18,593.
Source: HighBeam Research, County Recorders Increasingly Embrace Electronic Commerce: 'If you're...