Electronic Recording Council Hosts Trusted Submitter Agreement Signing
On Wednesday, May 6, 2009 the Electronic Recording Council -- Wisconsin hosted a ceremony and signing in the Governor's Conference Room of the State Capitol to announce that those involved with real estate transactions in Wisconsin will now be able to electronically record documents, moving Wisconsin into the forefront of electronic real estate commerce.
Electronic recording, similar to electronic filing, increases the speed and efficiency of real estate transactions. These transactions, which often involve large amounts of paperwork, may take several days, or even weeks to close when filed by hand at a County Register of Deeds. By recording the paperwork electronically, banks, mortgage companies and other stakeholders will be able to submit paperwork immediately to County Registers of Deeds from any location and can be alerted to filing errors in a matter of minutes.
As part of Wisconsin's emphasis on electronic recording, representatives from software companies also signed the state's Trusted Submitters Agreement (TSA), a document that establishes security and formatting standards for companies supplying the technology for electronic recording.