When lenders and servicers process lien releases, assignments, quit claim deeds and modifications, accurate documentation must be filed with local jurisdictions, many times within legislated timeframes to avoid penalties. Documents must also be complete and include all required information. In many cases, required information is often missing and needs to be submitted before a lien release or assignment can be filed.
Post closing pool certification requires lenders to provide collateral documents to the custodian within established timeframes. Failure to do this can cause penalties or may cause a repurchase of the mortgage from the investor.
Intelligent Automated Searches
eSearch™ is a fully automated, paperless, cascading solution that retrieves missing data elements and helps lenders and servicers to quickly create recordable documents. The cascade model chooses the best routing to obtain missing data based on the subject property ZIP code and the age of the loan transaction, reducing both processing time and related costs.
Our comprehensive routing methods include searching public and private data repositories and physical jurisdictional searches using our nationwide network of abstractors. If eSearch™ can’t find the data in public records databases, the system performs an image bank search to obtain a match. In the event that missing information is still unavailable, eSearch places an electronic order with an abstractor to find the missing information and return it electronically.
eSearch’s repository search success rate averages 60 percent, saving clients valuable time and reducing expenses. Orders can be placed on www.docx.com by using the order template or in conjunction with LPS Document Solutions’ eAssign or eRelease.
Instant Public Record Search with IPR
Instant Public Record (IPR) searches offer great savings when only mortgage or property data is needed, and that data is located in our proprietary data repository. IPR’s instant online access to mortgage and property data, delivers data in just a few seconds and can be accessed at www.docx.com.
Get the data you need to file complete and timely lien releases and assignments. Call 888.DOCX.NET (888.362.9638) or e-mail us today at info@docx.com.