Title Plants — HDEP International (Copy)

HDEP INTERNATIONAL – THE TITLE PLANT AUTOMATION SPECIALISTS:

HDEP International has a 30 year track record in automating title plants and maintaining plants on a day forward basis. We have built electronic plants from: county official records; lot and tract books; index cards; slip plants; grantor/grantee indices and court filings. Title plant automation and maintenance is a specialized task, and HDEP International has developed extensive software, procedures, employee training and monitoring to ensure that plants are built accurately, reliably, and efficiently.

TITLE PLANTS: THE BASICS

A title plant is a collection of recorded documents, maps, prior policies and index information that a title company uses to find the evidence to prepare title commitments and other reports which are used to insure ownership of real property.

A title plant is more than an assortment of documents – it is the engine that drives the efficiency and reliability of the title insurance process. In addition to a plant’s intrinsic value, a title plant owner gains the following advantages:

Standardization and control over search/exam procedures.
Control over title production costs.
Faster turnaround of orders – a sustainable competitive advantage.

A title plant is a corporate asset with a tangible value of its own. The more complete and current a title plant is, the more valuable it becomes because the plants make title examination more efficient and reduce errors.

A title plant should be updated daily to retain its value. A title plant that is not kept up to date will eventually become less useful and is often abandoned. HDEP International assists customers with daily plant updates and locates research.

AUTOMATING TITLE PLANTS:

Organizing historical title plant information (back plant automation) is a formidable task that should be handled by trained staff who understand the entire process. Automated title plants contain electronic indices to the scanned images of recorded documents. The indices and the scanned images are used as evidence to produce title reports that allow for a confident insuring decision. Computerized title plants are the preferred choice in the title insurance industry because they offer:

Improved search/exam productivity
Reduction or elimination of mis-filed records
Improved workflow
The possibility of outsourcing some tasks
Easier off-site backup for security

The core of the automated title plant is the index to the recorded documents and the scanned images of the recorded documents themselves. If the indices or the images are inaccurate or incomplete documents will be missed in the search/exam process, which could result in a claim. Computerizing a title plant requires:

Trained staff who understand not only the intent of the various documents, but also posting and abstracting procedures
Know how the indices and images work together in the customer’s office
Strict procedures and specialized software to minimize errors
Scanned images of the recorded documents – acquired from the county or converted as part of the project

Advances in computer technology and the availability of excellent title plant software has made title plant automation affordable for companies of all sizes, and in counties with populations as low as 20,000 people.

TITLE PLANT AUTOMATION AND MAINTENANCE – THE PROCESS

1.

Client Needs Assessment

Discuss your company’s goals and expectations
Inventory and assess the availability of the source documents – historical as well as day-forward
Establish project communications

2.

Develop Project Plan

Develop posting rules
Review source documents
Create plat edit lists
Design the “locates” process

3.

Production Sample

Deliver sample data to customer for quality assurance
Import data into customer software
Submit reports and locates for review
Adjust instructions and procedures based on customer feedback
Then: full production begins