U.S. Recordings Blends Doc Workflow, Recording
When it comes to making loan satisfactions and related recording tasks more efficient, U.S. Recordings has found that document management technology is a good complement to the burgeoning business of electronic recording of documents.
U.S. Recordings, a pioneer in e-recording, is using DocuWare technology to streamline the way it interacts with clients. U.S. Recordings here offers lenders, vendor management firms and title companies both electronic and paper-based document recording services.
The company uses DocuWare to store an electronic copy of documents that are sent for recording. The DocuWare software was implemented with the help of AMI Imaging Systems, a DocuWare partner, in 1998. Recently, DocuWare technology has been expanded for use in U.S. Recordings' accounting department, where it is used to provide electronic billing for customers that prefer that.
Used in tandem with U.S. Recordings' electronic document recording platform, the document management software has become even more useful providing clients with online access to recorded documents, according to Jim Herman, director of information technology at U.S. Recordings.
"As the electronic recording industry changed, they are now kind of combined to work together," he said.
U.S. Recordings receives both paper and electronic documents. The e-documents are automatically indexed with information from the accompanying data.
A barcode is affixed to the paper documents and is later used for indexing after the documents have been recorded. Either paper or e-documents can be sent to a county for recording, depending upon the county's requirements and e-recording capabilities.
The volume of transactions in recent years has highlighted the benefits of imaging, document management and electronic recording. Two of U.S. Recordings' largest clients have been transferring mortgage documents at a rate of 60,000 TIFF images a day. One client is completely paperless.
Jim Herman, director of information technology at U.S. Recordings, said managing information on a screen is much easier than thumbing through papers when processing documents packages for recording.
Demand for electronic recording from clients is growing, as is the number of counties that have the capability to engage in some level of e-recording. It is estimated that about 10% of the nation's population lives in counties that are e-recording enabled, and that number will soon grow to 20%.
"I think it is definitely a trend. I'd say most of our customers would like to be there if they can get there," Mr. Herman said.
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