Lien Releases and Recordings in 2006
Press Release Archive - February 2007

Visionet Systems' VisiRelease Processed More Than One Million Lien Releases and Recordings in 2006

-- VisiRelease handled 12 percent of all lien releases processed in 2006 --

SAN DIEGO, Feb. 20, 2007 – Visionet Systems has reported that its lien release, reconveyance and mortgage recording platform, VisiRelease (the lien release and recording platform of choice at four of the top ten loan servicers along with three outsourcing service providers), processed 12 percent of all lien releases in 2006. This milestone was reached just 24 months after the initial launch of VisiRelease. The news was announced today at the Mortgage Bankers Association’s 2007 National Mortgage Servicing Conference and Expo in San Diego.

VisiRelease is tightly integrated with the two major legacy servicing systems such as MSP and MortgageServ. The system automatically collects all required loan data and stores the legal description text so that lien release can be automatically processed from the servicing system on demand. Loan documents are printed and shipped directly to the county of record and the system processes electronic recordings where counties accept electronic interchange. VisiRelease currently has a workflow and rules engine that caters to the strict recording requirements of 3600 counties, which minimize rejections and penalties. “Visionet delivers technology solutions to lenders and servicers that enable complete automation,” said Arshad Masood, president of Visionet Systems. “Because technology solutions are becoming less expensive and more sophisticated, more servicers are moving lien release processing functions in-house from offshore. We were able to capture a large amount of lien release processing and recording business last year by designing a solution that enables servicers to reduce operational costs while increasing productivity.“ About Visionet Systems

Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient processes to improve profitability. Founded in 1995, the company’s customers include mortgage lenders and servicers. 

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