Ingeo Launches iPrepare for Submitters: Streamlined Capability Simplifies e-Recording

PR Log (Press Release) – Nov 19, 2008 – LOGAN, UT  –  Ingeo Systems, Inc., the nation’s number one provider of electronic document recording technology, recently launched its newest product offering, Ingeo iPrepare®, a streamlined electronic document recording process for submitters.  With this new capability, customers can visit Ingeo’s website, read about the new offering, sign up online and handle all the processing automatically.  This is especially helpful for small or occasional users.

“There is no waiting for account set-up or payment options,” said Karl Klessig, Ingeo’s CEO.  “This is a self-service mechanism that facilitates all the work of bringing submitters aboard with Ingeo’s ePrepare product.”  This streamlined, simple approach will bring on new submitters with a fully integrated solution requiring fewer touch points.  The screens are designed to be user friendly for easy interaction.

“Ingeo’s website will link to our iPrepare homepage where new submitters can sign-on,” Klessig said.  “They will be able to create an account on the spot, input their data, and start submissions – all through a completely automated system.”  This new capability requires no database integrations.  All information, such as types of documents, template requirements and contacts is input through the interface.  The Ingeo iPrepare page also will offer product information and post Ingeo county information, listing available counties and announcing when new counties are available in the Ingeo eRecording network.

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.

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 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 250 County Recorders that Ingeo lists as customers, the company works with nearly all the major county recording system vendors, and now has more than 20 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. Ingeo also has partnerships with 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 all 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.  

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