Real Estate and Technology news for agents,brokers

BrokeripTV.com : We are talking with Joe Hubert today from land title a sales manager here at Land title and what type of web interfaces are you getting involved and to make this more of a paperless transaction?

Joe Hubert: Well. Lenders Hold Up The Paperless Transaction. What we have tried to do is implement most everything that we have available on our webs. So that on our website agents have access to things like online orders, own use that they can request. They can do transaction management of the various transactions that they have. They can place marketing orders, things like that. So we are trying to do every thing that we have available on the phone or via email also on our website as well. Just so it is easy or accessed.

Displayed Question: IT IS POSSIBLE TO PERFORM ALL DIGITAL CLOSINGS?

BrokeripTV.com : Has Land title completed in all digital closing end?

Joe Hubert: We have and at this point in time there is two requirements in the industry from lenders and county clerk and recorders offices where they still require paper copies to be signed. So it is not some of the industry is really allowed because of different elements.

Displayed Question: WHICH DO THE LENDERS PREFER?

BrokeripTV.com : You and I were talking of camera we were saying that lenders in most parts still do not want electronic closing. They want a signature on a piece of paper would you say thats all lenders, 99% of lenders?

Joe Hubert: Probably 99% of the lenders still require paper and thats just because that area the industry hasnt evolved yet in to electronic format. There is really five steps that they take place to in all digital kind of closing if you will a transaction. There is digital recordings, there is digital signatures, there is digital mortgage documents, there is digital post closing documents and then digital recording. So there are many steps that have to take place in that format and we have come a long way, number of those things we are starting to do today. But in tell it, it all takes place you really cant have an all digital closing.

Displayed Question: PAPER -VS- ELECTRONIC

BrokeripTV.com : You guys taken a look at how much it costs you to do paper transactions versus electronic?

Joe Hubert: I dont have the data on how much are paper costs or clearly there a reduction in paper cost will save some money. But there are things that we are doing day in and day out as I had mentioned before, a light link commitments that provide not only the commitment in an email format but also provide links to every recorded document related to that property. So things like deeds and releases and 24 month change the title in flat maps, in governance, and codes and restrictions, those kind of things we can provide to consumers, provide to agents, that we are going to put in to paper format and thats really a large volume of paper that we have been able to reduce, so really excited about that step and looking forward to making more.

BrokeripTV.com : Joe, thanks for being with us.

Joe Hubert: Thank you again.

BrokeripTV.com : Good time.