In Florida, document processing provider Nationwide Title Clearing has hit a major milestone in its efforts to help the mortgage industry move into the Digital Age, announcing that 60 percent of its volume is now being submitted to county recorders in electronic form.
"This is a major achievement, not just for our company, but for the entire industry," said Nationwide Title Clearing's CEO, John Hillman. "Electronic documents and eRecording have long been key elements of our strategy. We have pursued the goal of interfacing with County Recorders aggressively and partnered with some of the leading technology firms in the industry.
"I'm very pleased to see this approach paying dividends to our clients," he added.
Not only is eRecording faster, NTC says, but it also provides a safer, more reliable way to process documents, minimizing risk of losing documents in transit and cutting down on the time and effort it takes to find public records.
Though eRecording is catching on in most states, a few have been more receptive than most—including Colorado and Nevada, where 90 percent or more of NTC documents have been recorded electronically.
"We're always working to find the best way to help our clients conduct their business," Hillman said. "Recording all documents electronically remains an important goal for NTC. We will continue to work with County Recorders and technology partners to achieve it."