NEW YORK, NY--(Marketwired - Feb 18, 2014) - CT Lien Solutions, a comprehensive provider of lien and document management solutions to mortgage servicers, financial institutions and law firms nationwide, today announced the ability for mortgage servicers to eSign and eRecord critical mortgage documents like assignments or releases through its web-based mortgage document preparation and recording platform iLienRED™.
According to the Property Records Industry Association (PRIA), between June 2012 and August 2013, the number of counties in the United States that accept eRecorded documents increased by more than 25 percent, to over 1,000 today, about 1/3 of all counties.
"Collecting and reviewing loan servicing files, documents and information is increasingly complex, inefficient and labor intensive," said Gene Lasky, general manager, CT Lien Solutions. "The increasing adoption rate by jurisdictions to accept eRecorded documents means mortgage servicing professionals have an opportunity to leverage technology to become more efficient, profitable and stay compliant with those jurisdictions, for example recording a Mortgage Satisfaction within a mandated timeframe after payoff."
With iLienRED's eCapabilities mortgage servicers can:
- Remain up-to-date on jurisdictions accepting eRecording: available jurisdictions are "online" in the platform allowing users to immediately use eRecord in those counties
- Improve efficiencies with bulk orders: users can upload thousands of mortgage document recording orders at once, including those for eSignature-enabled counties
- Reduce administrative costs: users can create an order online, sign and notarize (where allowed by law) electronically, then send to jurisdictions paper-free
- Easily integrate with existing Loan Servicing Systems: for data integrity and consistent workflow
"One other area we're excited to promote is the green-friendly aspect of eRecording," Lasky added. "While we're proud to offer time and cost benefits to the mortgage servicing industry, offering an important side benefit to the business and the environment is rewarding as well."
Demonstrations of iLienRED are available to the press and analyst communities upon request.
About CT Lien Solutions
Customers depend on CT Lien Solutions, a division of Wolters Kluwer, to be their partner for lien services and UCC filings. We deliver comprehensive lien management, debtor due diligence and life-of-loan risk management solutions. With our commitment to the industry and to our customers, CT Lien Solutions knows the special characteristics of each search and filing that enables organizations to make informed decisions and leverage the collateral to its best advantage. Our team of subject matter experts is dedicated to providing personalized service and innovative technology and tools to help simplify the complexities of day-to-day work. CT Lien Solutions is your full-service partner for giving you peace of mind, efficiency and savings. For more information, visit the CT Lien Solutions website or blog.
About Wolters Kluwer Corporate Legal Services
Wolters Kluwer Corporate Legal Services (CLS) operates a distinctive, global portfolio of market-leading legal services companies, including CT, CT Lien, Corsearch, and TyMetrix. It serves 70% of the Fortune 500, 90% of the AmLaw 100, 80% of the 100 largest U.S. banks and hundreds of thousands of small business owners. As pioneers of the legal compliance services space, CLS is the trusted partner of choice for legal compliance, due diligence, brand and performance management solutions. A division of Wolters Kluwer, a market-leading global information services company, CLS employs a network of over 1,500 professionals in 54 offices around the world.