FOR IMMEDIATE RELEASE
Director of Communications
Wolters Kluwer Corporate Legal Services
iLienRED, the First Web-based and Mortgage Recordation Platform of its Kind, Celebrates One-Year Anniversary
Mortgage servicing operations adopting the platform to reduce risk, costs and improve productivity
NEW YORK – March 22, 2012 – CT Lien Solutions (CTLS) announced today that iLienRED, the first web-based mortgage recording platform of its kind, celebrated a one-year milestone in the market. Formally introduced in early 2011 and now used nationwide by leading banks and mortgage servicers, iLienRED reduces preparation and recording turnaround times from weeks to hours. CTLS, which manages, monitors, and maintains the documents and data that lenders, law firms and corporations use in lien and asset management is part of Wolters Kluwer Corporate Legal Services.
iLienRED offers mortgage lenders, servicers, and attorneys the ability to prepare, eRecord, and receive the status of commercial or residential mortgage-related documents online. The customizable solution helps clients properly prepare and record real estate documents in either electronic or paper format. Fueled by advanced technology and industry experts who work with all 4000+ jurisdictions in the U.S., clients use the platform to:
• Quickly record a host of post-closing documents, including partial and full releases, assignments, mortgage satisfactions, assignments, and deeds
• eRecord in more than 700+ jurisdictions
• Receive the most up-to-date jurisdictional fees and requirements
• Run compliance and productivity reports
Before iLienRED, disparate and complex jurisdictional requirements - including document margins, fees, and compliance deadlines – had to be individually researched, understood and updated. With iLienRED, clients are prompted to specific data fields that are unique to each jurisdiction and margin, form and fee requirements are continuously updated and available.
Clients can eRecord in more than 700 jurisdictions with iLienRED and where not available, CTLS’ service teams manage recording submission through receipt with overnight service. To execute these submissions, CTLS funds the jurisdiction fees in advance, which contributes to substantial cost savings for clients on postage, check writing, invoice reconciliation and improved cash flow by eliminating deposit accounts.
As a web-based, secure platform with no software installation required, iLienRED is seamlessly integrated with iLien, CTLS’ legacy UCC and public records document management platform. Firms typically utilize UCCs for commercial loans to secure fixtures and equipment critical to the operation of the business on the property.
“The productivity increases and cost savings our clients have reported with iLienRED are tremendous,” said Gene Lasky, EVP and general manager, CTLS. “The fast and loyal adoption of the platform confirms we’re filling a real need in this market to make mortgage post-close operations more efficient, compliant and profitable.”
CTLS has been a market leader in public record recording, sourcing and monitoring for 30 years. In addition to iLienRED, it also provides property searches, flood determinations, property tax monitoring and other related services to the Real Estate market. To learn more, please visit CTLS at www.ctliensolutions.com.
About CT Lien Solutions
Providing comprehensive lien management, debtor due diligence and monitoring and risk management solutions, CT Lien Solutions partners with lenders, law firms and corporations to protect and optimize their security interests. CT Lien Solutions is a pioneer in lien lifecycle management processes, enabling more secured transactions than any other company in the United States. CT Lien Solutions delivers unmatched industry expertise, a full spectrum of products and outsourced services and a profound commitment to a personalized customer experience. For more information, visit the CT Lien Solutions website or follow @CTLienSolutions on Twitter. CT Lien Solutions is part of Wolters Kluwer Corporate Legal Services, the leader in legal process and business performance management. It delivers the people, products and processes to drive transparency, ensure accountability and provide organized, accurate and actionable information for legal, financial and insurance professionals. CLS’s business brands — CT Corporation, NRAI, BizFilings, Corsearch, CT Lien Solutions and TyMetrix — empower organizations to make better business decisions and be more efficient in today’s highly transparent business environment.
About Wolters Kluwer
Wolters Kluwer is a market-leading global information services company. Professionals in the areas of legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare rely on Wolters Kluwer’s leading information-enabled tools and software solutions to manage their business efficiently, deliver results to their clients, and succeed in an ever more dynamic world. Wolters Kluwer had 2011 annual revenues of €3.4 billion, employs approximately 19,000 people worldwide, and maintains operations across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit our website, YouTube, follow @Wolters_Kluwer on Twitter, or look up Wolters Kluwer on Facebook for more for information about our customers, market positions, brands, and organization.