DOCX Has Patent Pending for RID
DOCX, a provider of real estate recording services to the mortgage industry, said the patent application for its RID technology is scheduled for publication.
DOCX applied for the U.S. patent in early 2004 for the RID functionality.
Specifically, RID provides a Web service, or XML delivery of recording fees and government taxes, for single or multiple documents and to cover many different types of mortgage transactions, all within one calculation providing one result with line-item fees.
Additionally, the company said that RID provides for multiple algorithms per jurisdiction to support multiple fees calculated using different methods.
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