Automated, On-Demand, Push Button Residential Lien Release
Press Release - August 2005
| Visionet
Systems Inc. 4B Cedar Brook Drive Cranbury, NJ 08512 Phone 609.452.0700 Fax 609.655.5232 clifford.johnson@visionetsystems.com Contact: Arshad Masood Phone: 609.452.0700 x1119 arshad@visionetsystems.com |
FOR
IMMEDIATE RELEASE 9 AM EST August 31, 2005 |
Visionet Systems Announces Automated, On-Demand, Push Button Residential Lien Release Offering
CRANBURY, N.J., August 31, 2005 - VisiRelease® , the leading residential mortgage lien release and assignment software, now offers an automated way to replace the decades old laborious and tedious process of residential release preparation.
The common practice in the industry is to start preparing the lien release when the loan is paid off. The staff scrambles for the documents, searches the databases and a race begins to beat the deadlines set by various jurisdictions. This problem becomes acute during peek payoff periods. This reactive approach to doing business forces mortgage companies to sign expensive outsourcing contracts to handle the sudden jump in pay-off volumes.
Visionet has come up with a creative solution that embeds a streamlined methodology into our VisiRelease® application to do the ground work upfront - right when the loan is originated or boarded into a servicing system. Visionet uses a combination of data extraction proprietary OCR tools and dictionaries to populate the necessary data for release processing. This reduces cycle times and significantly lowers cost of payoff processing. Visionet's field proven VisiRelease® product works in unison with a streamlined, best practices process and auxiliary support tools allows for "Push Button" execution. It eliminates the need to scramble, hire staff to do the research, track documents, pay out-of-compliance fines or pay hefty spot fees to outsourcers.
"We are providing mortgage bankers a way out of expensive servicing arrangements through a paradigm shift in the way our industry performs lien release and assignments. VisiRelease® takes the cue from the servicing system to process the release - when needed. All a customer needs to do is sign and mail the documents/checks. The rest is all done automatically", said Arshad Masood, President - Visionet Systems.
ABOUT VISIONET SYSTEMS INC.
Visionet Systems has spent the last decade working with the top mortgage companies in the country, building various mortgage industry-specific products and solutions. In addition to VisiRelease®, Visionet products include production lead management, product recommendation engines, channel and broker profitability, post-close compliance automation, loan boarding and special loan setup, escrow float and shortage management, repurchase management, default risk analysis, loss estimation and tracking and Real Estate Owned Management System.
For more information, visit www.visionetsystems.com
Visionet Systems Inc.
www.visionetsystems.com
4B Cedar Brook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
clifford.johnson@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
