Lien Release and Assignments Software
Press Release Archive - March 2005

VisiRelease® Mortgage Banking Software For Lien Release and Assignments Selected by Top Mortgage Servicers

CRANBURY, N.J., March. 29, 2005 – VisiRelease®, the industry leading mortgage lien release, reconveyance and assignment software continues to up the bar on productivity and efficiency. For the Reconveyance Department the clock starts ticking from the time the loan is paid-off; documents must be retrieved from the custodian, releases must be prepared signed and witnessed, checks for recording fees prepared and the final package must be sent out in no more than 10 days in some states. The current process is mostly manual or semi-automatic. A team of 25 people handling 15,000 releases a month is the norm. The situation becomes acute during the re-finance boom.

VisiRelease® is a workflow, rules and task management based state of the art Web application. VisiRelease® enhances productivity and minimizes out of compliance incidents through exception-based management. It connects tightly with the industry’s leading servicing systems. Its scalable and distributed architecture allows clients to manage multiple teams at multiple locations from a single executive dashboard. The efficiencies of VisiRelease® have enabled our clients to move the lien release processes in-house. It shows that smart technologies can offer greater efficiencies and reduce costs.

“We are pleased with VisiRelease® performance and the productivity gains” said Steve Scheid, SVP National City Mortgage.

“We selected VisiRelease® because of its ease of use and excellent track record” said Ken Jancarz, VP Loan Administration at IndyMac Bank.

Built on open source technology, VisiRelease® allows users to track individuals, teams or departmental productivity in real time. The system also provides analytics for every stage of the lien release and assignment lifecycle, including error tracking, out of compliance monitoring, follow up activity and more. VisiRelease® provides up to date county fee and template information via subscription.

“We are replacing an existing lien release product with VisiRelease® to re-engineer our lien release process and we expect improved efficiency,” said Belinda DeArman, SVP at First Horizon Home Loans Corporation.

But the system’s biggest strength is its ability to impact a mortgage banker’s bottom line. “VisiRelease® is designed to process releases in an automated way and customers are only prompted to take action when an exception occurs. Therefore, boosting lien release productivity up to 40%” explained Eric Finver, VP Sales of Visionet Systems Inc. “As such, customers need to look at all options before taking the brute offshore outsourcing route.”

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