PASADENA, CA, October 22, 2012 /24-7PressRelease/
-- Global Debt Registry(sm), the nation's leading provider of chain of title services for the financial services industry, and Rekon Technologies, the largest provider of advanced lien release, assignment processing and document preparation software for mortgage servicers, announced today that Global Debt Registry has installed the latest edition of Rekon software for its RegTrac mortgage registration and tracking system. RegTrac registers and tracks the chain of ownership of securitized mortgages in the United States. RegTrac offers a comprehensive state-of-the art solution that tracks the complete ownership throughout the lifecycle of securitized mortgages.
Global Debt Registry chose Rekon's software to automate the document preparation for assignments and lien releases modules for its RegTrac mortgage product line. RegTrac certifies that public land records always reflect the current owner and lien holder's name. It certifies chain of ownership, verifies loan documentation, brings transparency to the foreclosure process and increased efficiency and accuracy to the securitization process.
"Rekon offers Global Debt Registry's RegTrac system a comprehensive solution that streamlines the preparation of lien release and assignment documents for both paper and electronic recording," said Rachael Sokolowski, managing director, mortgage services of Global Debt Registry. "Rekon is an ideal partner given their ability to provide paper documentation and outstanding reporting analytics."
Rekon's software quickly and accurately creates assignments and lien releases in the more than 3,600 recording districts in all 50 states. The software maintains an up-to-date status on the regulations, requirements and deadlines for preparing lien release and assignment documents in all recording districts nationwide. Rekon creates a permanent track history for all recorded documents on its system.
Global Debt Registry selected Rekon's software based on Rekon's ability to electronically record assignments in the more than 650 counties in the 36 states that offer eRecording for mortgage documents in addition to its ability to accommodate Global Debt Registry's paper document preparation needs. With its eRecording capabilities, Rekon software can dramatically reduce manual assignments and lien releases and their expense for Global Debt Registry. It minimizes the re-keying of data when the software is integrated into an existing software system.
"We are pleased that Global Debt Registry selected Rekon software for the registering and tracking of assignments and lien releases for its RegTrac mortgage and registration tracking product and are excited to be part of their cutting edge solution," said Aurora Marsh, CEO of Rekon Technologies. "Global Debt Registry joins the largest servicers in the country in using Rekon software to consistently and accurately handle the growing volume of mortgage assignments and lien releases facing the industry today without any need to outsource. By installing the latest edition of the Rekon software, Global Debt Registry can avoid any backlogs as it tracks and registers lien releases and assignments in counties around the country."About Global Debt Registry
Global Debt Registry was founded in 2005 to address the critical market need to accurately register and track the ownership of debt and mortgages. The company's products ensure that the chain of title and account information is validated at every change in ownership during the lifecycle of the debt. Global Debt Registry offers a comprehensive suite of cutting-edge solutions, including debt registration, account level chain of title products, accurate data validation services, turnkey document management, as well as expert advisory services. The company's technology is among the most secure and robust in the industry and is compliant with regulatory and federal mandates. Global Debt Registry is the market leader in debt and mortgage registration, and in the tracking of debt ownership, and is backed by a $5 billion private equity firm. GDR Acquisition Company LLC's primary operating division is Global Debt Registry, which is headquartered in Wilmington, DE. For more information, please visit www.globaldebtregistry.com
About Rekon Technologies
Rekon Technologies provides advanced software solutions to loan servicers and lenders that prepare, record, manage and track loan documents, such as assignments, lien releases, UCC terminations and trailing documents, among others. Rekon software is used by the largest servicers in the industry and is designed to handle growing volumes of document preparation and recording in the more than 3,600 recording districts in all 50 states. The company's flagship product and namesake Rekon is a fully automated system for document preparation and management, integrated with imaging and eRecording capabilities, that processes loans from payoff to recording in a paperless environment from anywhere in the world. Rekon also offers DokTrak, the most versatile document tracking and data warehouse technology product available for managing documents in the gap between origination and servicing, resolving issues in post-closing and file certification for securitization. Rekon Technologies is based in Pasadena, California. For more information, please visit www.rekon.com---
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