Industry News

Success in electronic real estate closings

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On Monday, the Bexar County Clerk's office in Texas electronically recorded real estate document packages containing deeds, deeds of trust and all other related documents for real estate sales using the new Landata Technologies' electronic recording system. The Landata e-Recording System, or LERS, aims to expedite the real estate closing process by providing the same recording functionality as that offered in person at the county courthouse, said Alan Cellura, president and chief executive officer, Landata Technologies. "We accepted the recordings, and the document packages were electronically stamped, cashiered and loaded into our e-STAR database," said Bexar County Clerk Gerry Rickhoff. "Funds to pay for the recordings were automatically transferred using the Frost Bank LegalEase system from the submitter's account to the Clerk's account. The electronically recorded and stamped documents were returned along with receipt information to the submitter within an hour of receipt, ...