Lien Release Products
Press Release Archive - Dec 2004

VISIONET SYSTEMS ANNOUNCES GENERAL AVAILABILITY OF LIEN RELEASE PRODUCT

CRANBURY, N.J., December. 13, 2004, Visionet Systems announces the release and general availability of their residential lien release product, VisiRelease®. Developed to provide better tracking and reduce costs, VisiRelease® is designed to align people, process and technology that boosts productivity and streamlines process. It is in production at two of the top ten servicers.

“We know that the servicing industry has needed a robust lien release product through the last two refinance crunches.” Said Asif Peer, VP, Servicing Technologies. “The Visionet team has designed a best of breed, scalable, work flow solution that will assist all servicers in improving this tedious and time consuming task. VisiRelease® makes the lien release and mortgage assignment preparations a one click process.”

VisiRelease® is an orchestration of task workflow, rules templates and interfaces, operating seamlessly under a queue management environment. This combination of tools has refined the business process from Payoff to final mortgagor notification by increasing throughput by as much as 100% and reducing reconveyance time to the minimum. This increase in productivity has an immediate effect on the servicer’s bottom line and on customer satisfaction.

VisiRelease® provides real-time information regarding the operations on the lien release department through the use of an executive dashboard and is designed so that a client can manage the outsourced and in-sourced tasks from a unified console. The added functionality to transfer work between a vendor and the internal lien release department provides optimal resource utilization. Built-in tools to track individual productivity and errors are an added bonus..

VisiRelease® interfaces to most imaging systems for document to data entry on a single screen. It calculates the optimal county fees, prints the exact and current county recording documents, maintains digital signatures and notary seals for appropriate counties and municipalities and interfaces with the accounting system for check generation. VisiRelease® is tightly integrated with the two major eRelease entities for electronic release generation.

Visionet Systems has abundant experience in creating value added systems that work with the foremost systems utilized by the majority of servicers. VisiView® is compatible with the most common of the legacy systems accommodating data exchange, transaction generation and integrated reporting. Additionally, interfaces with title companies, document repositories and county websites make VisiRelease® a comprehensive facility easily implemented. The architecture of VisiRelease® provides scalability to prevent melt-downs caused by high activity cycles such as the refinance boom.

Visionet Systems is an employee owned company offering high-tech software solutions, best practices consulting and business process outsourcing (BPO). We offer a variety of products, systems and frameworks that employ state of the art expertise in areas where effective technology solutions do not exist. Visionet excels in developing workflow and rules driven solutions that allow utilization of existing legacy system data and processing. Working with many of the top twenty mortgage banks, our offerings are engineered with built-in task based tracking and work distribution management, being successfully utilized to manage critical mortgage processes such as Post Closing & Loan Boarding Audits (VisiLoanReview®), Lien Release & Mortgage Assignments (VisiRelease®), and Escrow Setup (VisiEscrow®).

For more information, visit www.visionetsystems.com

Visionet Systems Inc.
www.visionetsystems.com
3 Cedarbrook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
mortgage@visionetsystems.com

Contact:

Arshad Masood
Visionet Systems Inc.
609-452-0700 Ext. 1119
arshad@visionetsystems.com

Joy Harper
Visionet Systems Public Relations
(678) 799-8118