Ingeo Systems Inc., a provider of electronic document recording technology, and Iowa Land Records, a county land records information system (CLRIS) operated by the Iowa County Recorders Association, have announced the integration of the Ingeo Electronic Document Recording System with the statewide portal designed to enable submission of electronic real estate documents in all Iowa counties.
Through this integration, all of Iowa's counties can electronically receive lien releases and assignments from national, regional, and local submitters. With Ingeo's Electronic Document Recording System, Iowa's County Recorders have access to a majority of the national submitters including six of the top ten and most of the top 30 lending institutions in the U.S. This is in addition to regional submitters in counties where Ingeo has already enabled electronic recording. The portal integrates with the local county land records management systems to enable the recording of documents submitted electronically by organizations such as Ingeo. The Iowa Land Records system provides the bridge between county systems and document submitters including Ingeo and their customers. The Iowa Land Records system and the integration tools used to connect with Ingeo are based on standards being developed by the Property Records Industry Association (PRIA) and the Mortgage Industry Standards Maintenance Organization (MISMO).
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. ePrepare integrates with loan servicing, title, escrow, document management, and recording applications. 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.