Ingeo's E-Recording System Processes First Electronic Mortgage in History of Miami-Dade County, Florida
With Ingeo's e-recording system, Miami-Dade County, Florida recently processed the first electronic mortgage document in it's history. This benefits the 2-1/2 million citizens of the county with improved efficiency and great savings.

LOGAN, UT, February 26, 2009 /24-7PressRelease/ -- Ingeo Systems, Inc., the nation's number one provider of electronic document recording technology, recently processed the first electronic mortgage document in the history of Miami-Dade County, Florida. This is the most populated county in Florida with nearly 2-1/2 million people, according to U.S. Census Department estimates for 2008.

"Ingeo now has its electronic document recording solution in eight of the ten most populated counties in Florida, covering nearly 58% of the state's population," said Karl Klessig, Ingeo's CEO. "Currently, we have a total of 11 Florida counties in our network with nine more scheduled for the near future. This means that soon more than 78% of Florida's population will benefit from the speed, efficiency and cost savings of Ingeo's e-recording system."

First American Equity Loan Services was the submitter that sent the first electronic mortgage document to Miami-Dade County. "We're happy to be the first to submit into this important county," said Karl Trottnow, E-Recording Development Manager for First American Equity Loan Services. "First American is committed to the continued expansion of e-recording nationwide and this addition of Miami-Dade County will benefit many people." The Miami-Dade County Clerk's office also is pleased with the technological advances provided by Ingeo's technology. The new efficiency in operations will result in great savings in both time and costs.

Ingeo is prepared to assist any county in implementing an electronic recording solution, regardless of budget or technology constraints. "We continue to evolve our technology to enable all recorders to take advantage of the benefits of electronic recording," Klessig said. "We work directly with counties and have partnerships with nearly all the major county recording system vendors," he continued. "With Ingeo's Electronic Document Recording System, there isn't a county in the U.S. that can't save time and money with our electronic document recording capability."

With this installation, Miami-Dade has joined major counties across the nation that are using Ingeo electronic recording solution to process hundreds of thousands of electronic documents per year. Many mortgage lenders in the U.S. are using Ingeo's capability for the electronic recording of mortgage documents. "No other service has a complete end-to-end capability that can adapt to virtually any submitter's system output and provide fully automated signing, notarization, delivery, recording, payment and return in conjunction with existing county recording systems." Klessig said.

Ingeo's Electronic Document Recording System is composed of two parts: Ingeo ePrepare for submitters and Ingeo eRecord for county recorders. With Ingeo ePrepare, digital documents are prepared using standardized XML data, embedding digital and digitized signatures and notaries, and attaching electronic payment advices. Documents that originate on paper, such as loan closing documents, are scanned into ePrepare and placed into their proper recording order. Ingeo ePrepare integrates with leading loan servicing, title, escrow, document management and recording applications. The system has the versatility to process Level 2 and Level 3 documents and to handle intermixed document types.

Ingeo eRecord receives the documents and, after an examination and validation review, processes each document according to established business rules in each recording office. Endorsement and receipt information is electronically embedded into the document, along with the recorder's digital signature, and is returned to the submitter electronically as an officially recorded document. Using configurable business rules, eRecord adapts to different recording requirements, fee structures and state legislation required within various recording jurisdictions. Ingeo is the only provider to offer a service with complete end-to-end capability that can adapt to virtually any submitter's system output and provide fully automated signing, notarization, delivery, recording, payment, account reconciliation and return in conjunction with existing county recording systems.

Ingeo eRecord and Ingeo ePrepare use open platform technologies, providing flexibility in integration with existing solutions, while allowing users to capitalize on previous investments in technology. When fully integrated, the electronic document recording process takes seconds.

In addition to the 271 counties that Ingeo records into, the company works with nearly all the major county recording system vendors, and now has more than 30 technology partners that have integrated their county recording systems with Ingeo, allowing their county customers to benefit from Ingeo's electronic document recording system. When fully deployed, this will represent more than 450 counties across the nation, representing more than 50 percent of the population that has access to electronic document recording capabilities. In addition, Ingeo has partnerships with more than 20 business partners on the submitting side.

Ingeo's Electronic Document Recording System reduces processing costs and time while improving data accuracy. In any given month Ingeo processes more documents than all other recording organizations combined. In the marketplace, Ingeo's system services a majority of the national submitters, including nine of the top ten and the majority of the top 30 lending institutions in the U.S. This is in addition to regional submitters in counties where Ingeo has county recording available.

Press Release Contact Information:

sharyn woods
Ingeo Systems, Inc.
Marketing Communications
1300 N 200 E, Suite 118
Logan, Utah
USA 84341
Voice: 435-755-9837
Fax: 435-755-9625
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