Mortgage recordings done right
Indecomm’s client is a national provider of real estate closing services; including title, appraisal, credit, and flood services.
The client provides title insurance policies to individual customers, mortgage lenders, businesses, and government entities through direct operations and independent title agencies. Their average closing volume is 3,500 transactions per month. They have maintained the highest title insurer rating in the nation since 1992.
- Our client had a high volume of security instruments and other real estate documents to be recorded in jurisdictions across the U.S.
- It was expensive to track the statuses of packages submitted for recording and keep up with changes in recording requirements across the country
- They were not able to provide recorded documents to its customers in a timely manner, which could have potentially resulted in a loss of business
Solution Summary and Key Benefits
- Our client and Indecomm transitioned the processes in a phased manner to manage the daily recording needs
- We processed documents using Indecomm’s proprietary recording application
- Indecomm processed data in a centralized location by a team that understands the recording complexities across the country
- We provided our client recording information, statuses on files and images available on Indecomm’s integrated website
- Indecomm managed the fee calculation and payment of recording fees to various recording venues on behalf of the client. Our client also had access to Indecomm’s Online Fee Calculator
- We managed exceptions proactively and in an interactive manner with our client using Indecomm’s Online Error Management system
- Indecomm delivered recorded documents directly to our client’s end customer
- Our client was able to reduce headcount in the recording area and re-allocate the resources to other parts of its business
- Indecomm was able to improve turnaround time for our client which increased customer satisfaction
- Weekly and monthly reporting helped the client have appropriate oversight of the recording process
- The client now has visibility of documents from receipt by Indecomm to delivery of documents to jurisdiction
- Our client and Indecomm established a long term relationship with flexible staffing capabilities to handle volume spikes
Summary of Outcomes
- A title and settlement service provider found it expensive to track the status of security instruments all around the country, and deliver the recorded documents to their customers in a timely manner
- Indecomm implemented its proprietary centralize recording and tracking application to transform the process for our client
- Indecomm’s client realized improved turnaround times, fewer errors and more satisfied customers