Simplifile, a provider of electronic recording services, and Rekon Technologies, a software vendor in the servicing industry, have announced the integration of Rekon's lien release and assignment processing software with the Simplifile e-recording system.
The fully integrated solution provides users of the Rekon platform a complete electronic solution, from document generation to recording, the companies say. Rekon users prepare and transmit documents for recording to the Simplifile electronic recording system. Simplifile then automatically submits recordable documents to recording jurisdictions for processing. Once the documents are recorded, Simplifile returns the fully recorded documents to the Rekon software.
This integration allows Rekon users to submit documents to their choice of hundreds of counties without leaving the Rekon software, the companies add.
LoanCare, a national provider of full-service subservicing and interim subservicing, is the first shop to deploy the integrated solution. A division of FNF Servicing Inc., LoanCare subservices approximately 125,000 loans for 90 companies, in 50 states, totaling approximately $15 billion in loan balances.
‘We are pleased to add Simplifile into our lien release workflow," says Heather Butts, acquisitions/document control supervisor of LoanCare. "E-Recording has automated our processes, enabled greater efficiencies, and contributed to fewer compliance exceptions. With the addition of more extensive nationwide coverage through Simplifile, we expect to see further gains and efficiencies.’
SOURCES: Simplifile, Rekon Technologies
