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Document submitters and recording offices benefit from faster processing speeds and substantial cost savings with eRecording.
The Benefits of eRecording
- eRecording increases accuracy by gathering all information needed by each recording office, drastically lowering document rejection rates.
- eRecording eliminates the need and cost of cutting checks and mailing paperwork or using couriers or other delivery mechanisms.
- eRecording increases document security by removing unnecessary handoffs from the transmittal process and provides immediate visibility of recording status.
- eRecording can reduce the timeline for recording a document to minutes or seconds, increasing your chances of winning the race to record.
And eRecording enables companies to go green by reducing the consumption of fuel, paper and other resources.
In short, with eRecording
| Submitters can: | Recording offices can: |
| Reduce costs Record documents faster Reduce document rejections Improve document security Eliminate payment errors Stop cutting checks Improve productivity |
Reduce costs Eliminate payment errors Receive prompt payment Handle rejections faster Increase productivity Shorten recording timelines Reduce document rejections |
So what’s holding you back from eRecording?
I don’t have time to implement an eRecording process.
A computer, Internet connection and scanner/printer are all you need to get started. It’s even possible to be up and running the same day!
I’m concerned about the cost of eRecording.
Electronic document recording saves time and reduces costs. It makes your staff more productive and gets rid of unnecessary steps in the process.
I submit documents in multiple jurisdictions. I can’t eRecord in all jurisdictions, so I might as well continue to record paper documents.
Electronic recording is becoming widely adopted by recording offices across the nation. Take advantage of it wherever it’s available to help streamline your workflows and reduce your costs. But it’s wise to consider your paper recording process as well.
I’m concerned about the legal authority for eRecording.
The electronic recording methods are now well-established and reliable. A growing number of states have enacted UETA, URPERA and notary laws to facilitate electronic recording. The law no longer poses a barrier to the new technology. Lenders and their legal counsel can confidently take advantage of the lower cost and quicker turnaround time offered by electronic recording in states that have enacted this legislation.
I’m concerned about robo-signing.
The robo-signing scandal arose solely in the context of the foreclosure crisis where fraudulent human verification of court documents led to some borrowers losing their homes. The same issues simply do not apply to electronic recording of mortgages, assignments, and satisfactions. The same requirements and safeguards apply to real estate documents regardless of recording method. Consequently, robo-signing concerns should not deter any lender from taking advantage of the new electronic recording technology.
I don’t know how to get started.
Read on! Our next chapter tells you everything you need to know.