Product Overview
Currently, Ingeo’s electronic recording system is composed of two parts: ePrepare for submitters and eRecord
for county recorders. iTax is an enhancement to Ingeo’s e-recording service that enables counties to review and process transfer tax receipts, deeds and other related documents.
With ePrepare, digital documents are prepared using the industry’s SMART document standards, embedding digital or digitized signatures and notaries, and attaching electronic payment. Documents that originate on paper, such as loan closing documents, are scanned into ePrepare and placed into their proper recording order. ePrepare integrates with leading loan servicing, title, escrow, document management and recording applications. Ingeo is the only provider to offer a service with complete end-to-end capability that can adapt to virtually any submitter’s system output and provide fully automated signing, notarization, delivery, recording, payment and return in conjunction with existing county recording systems.
eRecord receives the documents and, after an examination and validation review, processes each document according to established business rules in each recording office. Endorsement and receipt information is electronically embedded into the document, along with the recorder’s digital signature, and is returned to the submitter electronically as an officially recorded document. eRecord adapts to different rules, fees and state legislation requirements for county recorders.
ePrepare and eRecord use open platform technologies, providing flexibility in integration with existing solutions, while allowing users to capitalize on previous investments in technology. When fully integrated, the electronic document recording process takes seconds.
Ingeo’s applications comprise the leading electronic recording solution in the market that is compliant with existing and emerging standards. In fact, Ingeo’s senior management team is actively involved with
PRIA and
MISMO to ensure adherence with all industry standards. Ingeo works with and actively supports general industry standards, such as those from the
World Wide Web Consortium, and industry specific organizations, such as
MBA, NACRC, IACREOT and REFSMO. Ingeo’s security and operational procedures have been audited and accepted by some of the largest financial institutions in the U.S.
Ingeo’s electronic document recording system reduces processing costs and time
while improving data accuracy. Ingeo serves a majority of the national submitters, including six of the top ten and a majority of the top 30 lending institutions in the U.S. This is in addition to regional and local submitters that e-record in counties where Ingeo has county recording in place. In a given month, Ingeo processes more documents than all other recording organization combined.
The company works with directly with county recorders and nearly all the major
county recording system vendors. Ingeo has a network of partners that have integrated their county recording systems with our products, allowing their county customers to benefit from Ingeo’s electronic document recording system. When fully deployed, this partnership program will represent more than 450 counties across the nation.