Efficient, Accurate Mortgage Recordings

VisiRecording is designed to deliver a productivity boost of 50% or higher. This workflow driven product streamlines your recording function by efficiently processing Real-Estate collateral and manages county correspondence.

Our goal is to assist mortgage services in decreasing their operational costs. This product is able to align people, process, and technology at a service provider. We understand the priorities of a servicer such as the urge to reduce cycle time and demand to cut down county rejections.

The Challenge

Recording teams are required to properly carry out many steps before dispatching it to the county. These steps include calculating the correct check amount, attaching the right affidavits, and considering marginal requirements. The requirements vary from state to state and county-to-county, so the team must be sure to be county specific. County specialists must be relied on to recognize and understand the various distinctions. This knowledge requires years of training and observation of county rejections. E-Recording presents another speed bump since the user must constantly switch between spreadsheets and the E-Recording vendor portal.

We have designed servicers that conduct this manual intensive process that eliminate any excess time and preserve valuable resources. VisiRecording® offers workflow technology to ensure continuous operations. It carries out data transfer between the processor. This product also provides a comprehensive list of all of the county guidelines. These are presented the user, so that all of the requirements can be fulfilled. Designed using the latest webservice architecture VisiRecording® is integration friendly with existing upstream and downstream systems.

Solution / Mortgage Technology

Using business process modeling techniques the recording process was translated into an optimized workflow consisting of automated, hybrid and manual tasks. This allows the supervisor to assign, monitor and measure workload of Full Time Employees (FTEs), teams and various departments. Business processes have been automated, to pull, translate and populate existing information from upstream systems. Similar automation was designed to feed downstream systems as well.

Our team has refined the entire business process to maximize efficiency and significantly reduce cycle time. Separate queues for management, supervisors and users are put in place to prioritize work and highlight any exceptions.

A business engine enables the users to define complex business conditions. These business conditions are associated with the relevant tasks to ensure verification at the completion of each task. A powerful and flexible print engine is implemented for the printing of checks and cover letters.

VisiRecording® is an orchestration of task dependent workflow, rule templates and interfaces operating seamlessly under a queue management environment. Individual team members or whole teams can operate locally, near-shore or offshore. A 20 person recording team could improve its throughput by 100%. = Hypothetically, a 20 person recording department can be cut down to 4 in the US and 10 offshore, lowering the cost per loan order to $3.00.

VisiRecording® Features

  • Workflow driven architecture
  • End to end integration with multiple E-Recording vendors: Submits, receives, re-submits automatically using webservice based design.
  • Supports automatic ACH transaction with E-Recording vendors
  • Provides summarized and detailed loan-level status reporting for both E-Recordings and Traditional orders
  • Escalation if task is not completed within due date
  • Flexible cover letter templates for all states/counties for all document types
  • Option of setting up shared work queues or work queues with automatic load distribution
  • Built-in county recording guidelines and ways to maintain them on an ongoing basis
  • Automated generation of paying agent information
  • Digital signature capability for signers
  • Suspend/Resume any transaction in case of NSF, short payment, etc.
  • Provide the capability to integrate with the new loan number in case of internal refinance loans
  • Built in Issue management system. Escalate, assign, re-assign recording issues to team-members. Also keep log of all issues and report them accordingly
  • Workflows to handle county rejections. Assign, re-assign to the right team for corrective actions and resubmit to the county accordingly.
  • Supports document attachment for record keeping. Attach images of recordable docs and supporting docs from the file.
  • Schedule your printers for checks and coversheets printing or take manual control
  • Integration with imaging system
  • Integration with Visionet powered AtClose® Title and Closing solution
  • Interface with Title Company for sending and receiving research request.
  • Interface with Abstractors if delegation is required
  • Data exchange interface with Servicing System
  • Load all data required from servicing/origination system and post updated info in return
  • Interface with document management group to get the recordable or recorded mortgage document to provide flexibility to outsource the process to any outside vendor.
  • Interface with Servicing Check Processing System for Request Check using file update facility (601 Transaction Code – “CORPORATE ADVANCE DISBURSEMENTS“)
  • Interface with county website and force associate to check other sources and exhaust all options before ordering research to save research cost

Visionet offers a comprehensive range of solutions and services for mortgage and title firms. To learn more, please visit the Visionet Mortgage microsite.