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Colorado Public Trustee Association October 23, 2003. E-Business The Process. What Comes First? Releases/Foreclosures. Increased speed in producing releases will have a dramatic effect on P.T. offices Mortgage Companies and Title Companies are already transmitting electronically

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Presentation Transcript
what comes first releases foreclosures
What Comes First?Releases/Foreclosures
  • Increased speed in producing releases will have a dramatic effect on P.T. offices
  • Mortgage Companies and Title Companies are already transmitting electronically
  • Releases have a significant effect on the clerk’s office
the title mortgage company submits the release
The Title/Mortgage Company Submits The Release

The Title Company must have XML capability to submit either a level two or a level three document

properties of the release
Properties of the Release
  • Release of Deed of Trust and Release 0(Without Evidence of Debt)
  • XML indexing Information
  • Payment Information
importing information into the file
Importing InformationInto The File

Once the release arrives at the P.T. office, we will import the deed information into the file from the Clerk’s data base.

the public trustee needs the following
The Public Trustee Needs The Following
  • MOU
  • Ability to Receive Document
  • Ability to Verify Data
  • Electronic Signature
  • Electronic Notarization
  • Ability to Transmit to the Clerk
what is the sine qua non what s the deal breaker
What is the Sine Qua Non(What’s The Deal Breaker?)
  • Electronic Notarization.
  • Willingness to send without proof of debt.
  • Upfront costs.
  • Agreement on technologies.
how many platforms can we support
How Many PlatformsCan We Support?
  • E-Filing.com
  • Kuvera
  • INGEO
  • ACS
  • Simplifile
  • US Recording
  • Title Companies
  • Etc., Etc., Etc.
in conclusion
In Conclusion:
  • No county will be forced to adopt an e-business solution.
  • The technological solutions exist today.
  • Electronic Notarizations soon to be determined.