SAN ANTONIO (Sept. 13, 2004) - Today, document packages containing deeds, deeds of trust and all other related documents for real estate sales were electronically recorded in the Bexar County Clerk's office utilizing the new Landata Technologies Inc. electronic recording system.
"The Landata e-Recording System™, or LERS, successfully transmitted closing documents to the Bexar County Clerk's office, providing the same recording functionality as that offered in person at the counter in the courthouse," said Alan Cellura, president and chief executive officer, Landata Technologies.
"With this desktop e-recording system, Landata Technologies provides the platform and the submitting title company acts as a remote recording facility," said Cellura. "Basically, any submitter - usually a title company - can do electronic recording here in Bexar County through this open systems platform.
"LERS is different than other e-recording applications because it can manage multiple document types using a rules-based architecture," he added. "This is not an application where one document type is imaged and sent. This is a flexible application allowing the top 17 document types representing 75 percent of the filing volume in Bexar County to be automatically, electronically submitted in sequence to the County Clerk."
Bexar County Clerk Gerry Rickhoff said, "We received secure electronic documents through our Landata e-STAR automated public records system that included electronic document images, index information and cashiering information.
"We accepted the recordings and the document packages were electronically stamped, cashiered and loaded into our e-STAR database," he added. "Funds to pay for the recordings were automatically transferred using the Frost Bank LegalEase system from the submitter's account to the Clerk's account. The electronically recorded and stamped documents were returned along with receipt information to the submitter within an hour of receipt.
"LERS offers Bexar County with a more efficient document recording process that improves customer service, and supports a paperless environment and a more efficient use of county assets," said Rickhoff.
"This e-recording solution is unique, because it is a desktop, standalone application that any title company can use, regardless of their title production software," said Eddie Gammill, division president, Stewart Title of San Antonio. "Being able to record the transfer of title electronically is a major step in helping us provide better customer service to our home sellers, buyers, real estate agents, brokers and lenders."
Cellura said Landata Technologies will be working with all interested title companies within Bexar County to implement the Landata e-Recording System.
"With the ability of LERS to record mortgages, transfers of title, public records such as liens and other closing documents, we know we have an e-recording solution that will be in demand nationwide," said Cellura. "Landata Technologies will launch this solution across the country."
About Landata Technologies Inc.
Landata Technologies, a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), offers electronic document conversion with indexing services, recordation systems, e-recording and data warehousing with e-commerce to government entities and title companies.
Stewart Information Services Corp. is a technology driven, strategically competitive, real estate information and transaction management company. Stewart provides title insurance and related information services through more than 7,800 issuing locations in the United States and several international markets. Stewart meets the needs of the real estate and mortgage industries through the delivery of information services required for settlement using e-commerce. These services include title reports, flood determinations, document preparation, property reports and background checks. Stewart also supplies post-closing services to lenders, automated county clerk land records, property ownership mapping and GIS for governmental entities. Stewart provides expertise in tax-deferred exchanges. More information about Stewart can be found at http://www.stewart.com/.