Mortgage Recording Services by Visionet

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Presentation Description

As a leading mortgage services provider in the industry, we realize the pressure on mortgage servicers to lower their operational cost. The urge to reduce cycle time and the demand to cut down county rejections has always been the top priority for a recording group. Recognizing these pain points, Visionet started offering Mortgage Recording services to its business partners using cutting-edge VisiRecording® technology. We believe that global technology is not just a cost-cutting measure but can add business value and expertise when implemented properly. This idea revolved a few years back, was materialized and now in action at many of our partners.

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Presentation Transcript

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Mortgage Recording Services by Visionet Problems: 1. Higher operational costs 2. Reduce cycle time 3. Cut down county rejections 4. Compliance Traditional Process: 1. Maintain separate recording experts who know counties in and out for fees/rules for additional forms 2. Having the settlement system provide all the recording functionalities subscriptions etc. adds manual follow ups data manipulations etc. 3. Balance out the resources with high/low volumes 4. Relying on number of regional individual vendors to do the walk-ins in different jurisdictions and then tracking their work 5. Managing stacks of physical documents Visionet Advantage: 1. Seasoned recording specialists a. Teams by geographies b. Teams by transaction type c. Client Centric teams d. eRecordings Manual or Walk-ins departments e. Shipping Teams responsible for receiving recordable and sending back recorded files directly to the lender 2. Dynamic Workflow a. Customizable workflow that fits the need of the customers b. Effective County follow ups and updates c. Automated learning through Rejection analysis 3. State of the art Technology a. Integrations with related service providers

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b. Open Integration framework that can easily integrate with the settlement software c. Client Portal that gives complete visibility and tracking for the customers 4. Complete Transparency and Security Mortgage Recording Services As a leading mortgage services provider in the industry we realize the pressure on mortgage servicers to lower their operational cost. The urge to reduce cycle time and the demand to cut down county rejections has always been the top priority for a recording group. Recognizing these pain points Visionet started offering Mortgage Recording services to its business partners using cutting-edge VisiRecording® technology. We believe that global technology is not just a cost-cutting measure but can add business value and expertise when implemented properly. This idea revolved a few years back was materialized and now in action at many of our partners. Challenges We understand the many challenges your recording group encounters every day. Calculating the correct check amount attaching the right affidavits considering marginal requirements are some of the items your recording team should consider before dispatching it to the county. Every state has a distinct set of requirements in many cases counties within the same state have different criteria. Most of these are repetitive day to day exercises from an operational point of view and require several resources when volumes are on the high side. Having a global services partner who understands your recording operations has the right people and technology for the job could add significant business value to your organization. Our research proves that Legacy Recording technology is not tailored for the global outsourcing market. Most legacy systems don’t offer web-based interfaces were certainly not designed to leverage Distributed workflow assignments between remote teams. There is simply no easy way to assign an order to a global vendor and have a QC review onsite. Excel sheets imports extracting email chains manual formatting importing and exporting are tools of the past as they hog up productive time. As an established leader in mortgage technology and global outsourcing we realized what many Recording teams were missing and so we took it to the next step. Solution We pride ourselves in two aspects when it comes to Recording services: Our people and our propriety Recording technology. We have highly seasoned recording specialists who have spent great number of

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years in Recording verticals. They have seen how this vertical has changed over the years and have grown with it. Onboard are state/county recording experts e-recording experts dispatchers client reporting coordinators and Level 3 support folks - all of them who add great value to our partners every day. And then our proprietary VisiRecording® technology – With Visi in place your review team and our delivery processors dont have to spend extra time and resources on daily manual -intensive process. VisiRecording® offers workflow technology to ensure continuous operations and carries out data transfer between the processor quality-check and the dispatch groups. The right use of Webservices web portals make data transfer seamless and instant between remote wings. And you don’t have to bother about your existing in-house and client system integrations - Designed using latest webservice architecture VisiRecording® is integration friendly with any up and downstream system. For more information about Mortgage Recording Services please visit Mortgage Recordings Releases Assignments.

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