Ernst: More eRecording Increasing TRID Risk

More jurisdictions are accepting electronic documents for recording into the pubic record, according to Ernst Publishing that’s increasing risk.

The move to eRecording has been well received by an industry that has been working very hard to get free of paper documents, but it comes with some additional risk.

More jurisdictions are accepting electronic documents for recording into the pubic record, according to Ernst Publishing, the leading provider of technology and closing cost data for the real estate and home finance industries for the past 29 years.

While eRecording has been available in some counties for many years now, only recently have we seen the processing gaining traction.

This is good news for the home finance industry and consumers, but because fees vary by jurisdiction and are passed on to the borrower at closing, this increased complexity increases the lender’s TRID risk.

Read the complete press release now on MortgageSpeak.

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