Simplifile Q2 2016 Report Finds Emerging Preference Among Lenders for Settlement Partners Who E-Record

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PROVO, Utah, July 26, 2016 (SEND2PRESS NEWSWIRE) — Simplifile, a leading provider of real estate document collaboration and recording technologies for lenders, settlement agents, and counties, today released quarterly figures summarizing the organization’s activities and achievements from April through June 2016.

Simplifile
The company’s e-recording network gained 42 counties in 18 states during the second quarter of the year, bringing its total number of e-recording jurisdictions nationwide to 1,452. Second-quarter additions include 10 new counties in Georgia; five new counties each in Missouri and North Carolina; three new counties each in Indiana and Kansas; two new counties each in California, Louisiana and Wisconsin; and one new county each in Alabama, Michigan, North Dakota, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Virginia, and Washington.

Title companies, banks, attorneys, and lien filers can now upload and submit documents directly to the recorder’s offices in these counties using Simplifile’s secure, web-based service. In minutes, the recorder can electronically review, stamp, record, and return documents back to the submitter.

Company President Paul Clifford credits much of Simplifile’s recent success to growing interest in e-recording among mortgage lenders. The Simplifile Collaboration service allows lenders to interact with settlement agents in real time to determine the appropriate fees for a transaction.

“County recorders and settlement agents were our earliest advocates, because they experienced first-hand the positive impact of e-recording on their productivity and recording costs,” said Clifford. “Now lenders are coming to appreciate how e-recording improves the post-closing process by getting documents into the public record and then back to lenders much more quickly. Some lenders are even stating a preference for working exclusively with settlement agents who e-record.”

Simplifile serves more than 40 percent of U.S. recording jurisdictions, including all 20 of the nation’s most populous counties. Simplifile’s e-recording county network is not only home to some of the nation’s most populous metropolitan centers, but also many of the smallest recording jurisdictions in the country. Simplifile’s recording network currently represents more than 75 percent of U.S. residents and the vast majority of all recording transactions.

“All that’s required for customers to submit documents for e-recording or collaborate through Simplifile is high-speed internet access and a browser,” Clifford said. “We’ve made it easy to e-record, and as a result, we’re seeing 3 million documents submitted through Simplifile per quarter.” Simplifile transmitted a total of 2,943,167 land record documents in Q2, or an average of nearly 46,000 per business day.

In April, Simplifile was honored with the 2016 Innovations Award from mortgage technology advocacy group PROGRESS in Lending. Clifford accepted the award at the Mortgage Bankers Association National Technology in Mortgage Banking Conference & Expo in Los Angeles. Also in Q2, Simplifile Vice President of Strategic Planning Nancy Alley was named to Mortgage Professional America magazine’s “Elite Women in Mortgage.” The recognition honors top women professionals who have broken new ground in the mortgage industry.

About Simplifile:
Simplifile, the nation’s largest e-recording network, was founded in 2000 to connect settlement agents and county recorders via its e-recording service. Today Simplifile has broadened its services to include collaboration tools and post-closing visibility for mortgage lenders and settlement agents working together on real estate documents. Through Simplifile, users can securely record, share, and track documents, data, and fees with ease.

To learn more, visit https://simplifile.com/ or call 800-460-5657.

News Source: Simplifile

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