Outsourcing or hiring in-house compliance experts are no longer the only options for servicers who need help handling lien releases and assignment of mortgage documents. With PerfectDocs technology, virtually anyone can prepare, validate, execute, notarize and even record these documents with ease without sacrificing accuracy and expertise.
PerfectDocs by Nationwide Title Clearing Inc. (NTC) gives users 100% flexibility and control, which ultimately saves them time and money. The PerfectDocs platform leverages NTC’s eRecord coverage, resulting in a nearly paperless process, with 85% of the volume being electronically recorded. This saves time and money and provides a fast, precise turn time on recorded documents, confirming completion of the process.
PerfectDocs provides several impressive features, including:
- Highest eRecording percentage
- Paperless processing for eRecords
- Access to attorney network
- Quality controlled data entry
- Access to curative services
- County And MERS compliant templates
- Regular county updates
- Signature and sign-off control
- POA library establishment
- Queue-based processing
- Statute compliance monitoring
- 99% County fee accuracy
- County rejects below 1%
PerfectDocs takes the guesswork out of processing lien releases and assignments. The platform tracks exceptions or special handling needs and is supported by NTC’s research services.
PerfectDocs is configurable to meet client and state standards for document execution, including signing authorization, assignment of signing teams and notarization logs. Document templates and recording fee calculations are managed by the same legal, compliance, MERS, and state and county teams that support NTC’s overall success.
PerfectDocs combines many complex processes into a single, streamlined workflow platform that anyone can use. Among the processes included are thousands of variations of county requirements, recording fees, agency and GSE guidelines, MERS requirements, and compliant forms.
Even users with minimal training or knowledge of lien releases and mortgage documents can produce compliant documents with PerfectDocs.
The system drives the work, asking for information required in each jurisdiction and never requesting more information than is necessary to get the document recorded. Users respond to on-screen prompts, as the PerfectDocs system will not allow users to move forward to the next step without providing the information required to complete the document.
The platform drives efficiency through its intuitive data entry options based on state and county requirements, managing keystrokes to only what is required. Automatic and accurate calculation of recording fees for every recording jurisdiction nationwide based on the entered data and document content facilitates seamless entry.
These calculations help reduce the potential for country rejects due to inaccurate or incomplete data or incorrect recording fees, which reduces risk and potential legal expenses downstream.
In addition, PerfectDocs allows managers to control workflow with “share the work” capabilities. Users can choose which tasks are completed in-house and assign additional tasks to NTC for full-service document processing, an added benefit to disaster recovery and business continuity plans.
NTC’s forms stand up under scrutiny, giving users confidence that their documents will be sufficient once recorded and serve their intended purpose. By effectively managing a complex and risk-conscious service, PerfectDocs makes compliance simpler.
Product Snapshot: PerfectDocs, created by Nationwide Title Clearing, is a web-based solution that enables the creation and tracking necessary to complete all assignments of mortgage or lien release documents.