U.S. Recordings Achieves Milestone In Home State With Level II Activity
U.S. Recordings made the successful electronic recording of a "Level II" mortgage document, the first of its kind in Minnesota. Another successful Level II electronic recording of a mortgage, Minnesota's second, occurred in Scott County, the company said.
The Minnesota Real Estate Electronic Recording Task Force established the guidelines for various levels of document recordings. Level II e-recording includes documents that are generated in paper form, signed and notarized with a wet signature, then scanned and sent in electronic form to the county along with indexing data.
The electronic recording of mortgages will greatly increase the volume of mortgages sent to the participating counties, according to Jeff Carlson, CEO, U.S. Recordings. To date, six counties are approved in an ERER Task Force pilot to receive Level II electronic documents. They include Clay, Dakota, Martin, Renville, Scott and Wabasha. U.S. Recordings has integrated with all six counties.
Joel Beckman, Dakota County recorder, said, "The Level II submission of a mortgage by U.S. Recordings to our office was very successful. The process was seamless and efficient and we hope that electronic recording will continue to expand."
Dakota County operates with Fidlar software to receive documents from U.S. Recordings. Scott County's receiving system is developed by TriMin Government Solutions.
U.S. Recordings provides services to facilitate the recording of mortgage and transfer documents, lien releases and assignments for residential and commercial lenders in all U.S. jurisdictions, including traditional paper and e-recording processes. (c) 2007 Mortgage Servicing News and SourceMedia, Inc. All Rights Reserved. http://www.mortgageservicingnews.com http://www.sourcemedia.com