1 / 12

San Bernardino County Business Case for Electronic Recording

Page 2. Introduction. The Recorder's office is under continual pressure to record title companies' property-related documents as quickly as possible.Due to the competitive nature of the real estate industry, title companies rely on timely and accurate recordation of documents. The release of fund

jeneva
Download Presentation

San Bernardino County Business Case for Electronic Recording

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. San Bernardino County Business Case for Electronic Recording Presented By: De Ana Thompson Chief Deputy Recorder For Larry Walker Auditor/Controller-Recorder of San Bernardino County

    2. Page 2 Introduction The Recorder’s office is under continual pressure to record title companies’ property-related documents as quickly as possible. Due to the competitive nature of the real estate industry, title companies rely on timely and accurate recordation of documents. The release of funds to escrow and payoffs of existing loans and other encumbrances depend upon the documents being recorded. Multiple parties, such as real estate agents, escrow officers, title companies, lenders, and buyers wait for confirmation that documents are recorded. In some cases, the buyer is waiting for the above-mentioned to move into their home and moving vans are waiting for the go ahead. The real estate industry is extremely competitive and each party involved has an important stake in the outcome.

    3. Page 3 The Title Company Submission Process in 2001

    4. Page 4 Why the Industry needs E-Recording Title Company or Service Company clerk would deliver documents and wait and wait until all documents were examined, recorded and cashiered. (This might take most of the day.) Title Company or Service Company clerk might have to travel long distances to meet the specific timeframes for recording. San Bernardino County is the largest geographic county in the country (over 20,000 square miles). This makes it very difficult for these companies to plan their days. County budget restraints resulted in the inability to increase staff to meet the increasing workloads.

    5. Page 5 Many recorders saw a significant increase in the number of documents

    6. Page 6 Fiscal Years 01-04

    7. Page 7 Reasonable Expectation For Examiners

    8. Page 8 The Title Company Submission Process in 2002 When Implementing E-Confirmation

    9. Page 9 The Title Company Submission Process in 2004 When Implementing E-Recording

    10. Page 10 What are the costs of E-Recording?

    11. Page 11 What are the savings?

    12. Page 12 For Any Questions or Comments please contact:

More Related