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The Downdate Electronic Recording Is Here! by Lisa Petersen, Underwriting Counsel

3/6/2003 12:00:00 AM

On March 6, I attended an open house at the Racine County Register of Deeds office to watch the first electronic recording of mortgage releases. Mark Ladd, Racine County Register of Deeds, has been working for several years on this project and Racine is now one of the first counties in Wisconsin to offer electronic recording. Racine County and Washington County are presently the only two counties in Wisconsin with this capability. Both counties partnered with Ingeo and TriMin Systems, Inc. in this endeavor. The recently installed Ingeo Electronic Recording System in both counties was integrated with their existing Land Records Management software from TriMin to allow mortgage servicers to prepare and submit digital lien releases to the county register of deeds offices without using a single piece of paper. The electronically submitted documents can be manually or automatically processed without any human intervention, reducing recording time from days or weeks to seconds, with overall processing times of minutes. At the demonstration I attended, a representative from Educators Credit Union submitted an electronic mortgage release. The document was prepared using Ingeo's ePrepare software application, accessed through a web portal. The documents were digitally signed and notarized and then submitted electronically to the county's server. The entire process, including accounting for the recording fees, took less than 40 seconds. According to the Ingeo and TriMin representatives, the system is even able to review the document for recordability under Wisconsin's recording statutes and it will reject a non-conforming document. The end result is that the submitting lender receives back a legally recorded document via electronic transmission. The Ingeo software works with the TriMin software to post the release directly to Racine County's land plant records without any manual intervention. The system is also integrated with the county's manual posting system so that duplicate document numbers are avoided. We will continue to monitor the progress of these two pilot sites for electronic recordings.

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