In the wake of the robo-signing fiasco and accompanying “foreclosure-gate,” you would think that mortgage lenders and servicers would be more wary than ever of virtual signatures and electronic documents. Not so, reports Nationwide Title Clearing Inc. (NTC) in a recent trend-identification report. In fact, more people are using virtual and electronic method to register, transfer, and record titles than ever. Turns out more than 840 jurisdictions are eRecording-enabled and about 15 more become enabled every month, said NTC eRecording manager Brian Ernissee. The process of eRecording is a multistep practice that ultimately results in faster submissions of titles, more cost-effective recording, and higher levels of security, said Ernissee.
Are you concerned by this trend, or is it simply the future for titles and other legal documents?
by Carole VanSickle