NTC (Nationwide Title Clearing) is thrilled to announce that we are greener than ever! We have just reached a huge milestone - over 60% of our documents are now being eRecorded. Over 1,100 counties currently accept eRecording, with about 15 new counties jumping on the bandwagon weekly. In just under two years, we have seen our eRecording numbers jump up from 10% (as of May 2012) to currently over 60% (and climbing).
During the life of a loan over 6,000 pieces of paper are created on average - that's a lot of trees! eRecording just makes sense compared to the way the process has been handled previously. The procedure of submitting paper documents can be time-consuming - it can take up to several months to receive the recorded document back from the county.
eRecording has benefitted in so many ways to the recording and maintaining of land records by:
- Eliminating postage costs
- Reducing the length of time it takes to send, record and return documents
- Increasing security and efficiency - documents are tracked through the entire process
- Severely cutting down on staff hours spent following up and tracking paper documents
- Decreasing the potential for investor penalties due to delays or errors in the mailing system
- Reducing the amount of paper documents overall, which translates to a positive effect on the environment
The eRecording process consists of five steps - submit, receive, review, record and return. The biggest change with this method is the fact that original documents never leave one's possession - everything is scanned and submitted within minutes. The document is tracked every step of the way and returned electronically immediately after it is recorded. This kind of precise tracking and immediate turnaround makes it easier for our clients to see real-time results.
Depending on the jurisdiction, certain document types such as assignments, lien releases and security instruments (mortgages/deeds of trust), are able to be electronically recorded. The process is rapidly becoming the preferred method to submit documents for recording where it is available. We at NTC recognize the need for adopting this method across the nation and hope to see eRecording become the industry standard. This process greatly reduces our carbon footprint and ensures that our clients receive their documents in a timely efficient manner.
