Rekon Installs Additional Assignment Software for Top Three Lender

    PASADENA, CA, September 30, 2011 /24-7PressRelease/ -- Rekon Technologies, the leading provider of advanced lien release, assignment processing and document preparation software for mortgage servicers, has installed the latest edition of its Rekon software for one of the top mortgage lenders in the nation, enabling the lender/servicer to avoid any backlogs in its rapidly increasing mortgage assignment volume. The top lender, a Rekon software user for lien releases and mortgage assignments since 1997, completed more than 125,000 assignments in the first full month with the latest edition of the Rekon software system installed. The Rekon lien release and assignment software is seamlessly integrated with any servicing software system.

With the escalating volume of foreclosures today, mortgage servicers need to quickly straighten out the chain of title and establish a clear and clean title for delinquent properties in the assignment of mortgages, which ensures successful foreclosure proceedings by publicly documenting the owner of record and safeguarding the right to foreclose. By installing Rekon's software the top three lender will avoid costly backlogs of mortgage assignments that can delay loss mitigation efforts. Rekon software quickly and accurately creates assignments for lenders and servicers in the more than 3,600 recording districts in all 50 states. The software maintains an up-to-date status on the regulations and requirements for preparing lien release and assignment documents in all recording districts nationwide.

Additionally, Rekon can electronically record assignments in more than 650 counties in the 36 states that offer eRecording for mortgage documents. With its eRecording capabilities, Rekon software can dramatically reduce manual assignments and assignment expenses. A recent lender analysis shows that up to 45 percent of servicers' assignment volume, depending on their loan portfolios, could be transmitted electronically today.

Senior executives at the top three lender praised the quality of Rekon's software features and noted that the delivery, installation, testing and go-live process for the software system was fast, easy and uncomplicated, taking little more than a month. "Rekon ensured an efficient and seamless transition for our internal team members responsible for the project," said a senior executive who requested anonymity. "The Rekon software also is extremely helpful when working with our business partners in the foreclosure process."

Aurora Marsh, CEO of Rekon Technologies, said, "Rekon's software is used by the largest servicers in the country and it consistently and accurately handles the growing volume of mortgage assignments facing the industry without a need to outsource, thus giving servicers and lenders of all sizes direct control over their assignment preparation costs. By installing the latest edition of the Rekon software, our top tier lender customer can avoid any backlog of assignments and safeguard its right to foreclosure and sell or transfer loans, including pools of loans, with clear and clean titles."

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.

PRESS CONTACTS
Rosalie Berg
Strategic Vantage Marketing & Public Relations
[email protected]
(305) 971-5352

Marshall Taylor
Strategic Vantage Marketing & Public Relations
[email protected]
(410) 867-1093

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