Nationwide Recording Confirmation Using Automated Monitoring

Client Need

One of the nation’s largest specialty lenders required a solution to verify recordings. Although it was receiving verifications from title companies that the liens were recorded, the data was sparse for many loans, or missing altogether. Its manual research process was costly and imprecise; it sought a partner to automate the retrieval of closing information.

Solution

First American CoreLogic developed an automated process for the lender to determine which loans have not been recorded within six months. The lender now sends these loan files to First American CoreLogic monthly, to be added to a database of “unconfirmed recordings” that is hosted on behalf of the lender. Its “unconfirmed recordings” database is compared to First American CoreLogic's nationwide property database and matched files are returned via a batch file on a pre-determined schedule.

Results

The client eliminated the expense associated with retrieving data manually such as keying errors and training employees how to extract and standardize data from numerous county sites. It has shifted these internal resources to advanced quality control functions, while shaving unnecessary expenses from its research process. As an unexpected byproduct, the resulting enhanced data quality and standardization has improved its marketing department’s ability to conduct automated cross-sell campaigns.