1990
1991
1992
1993
1993
1997
Now
The Change
In the 1990s, the industry found itself at a crossroads, facing new laws.
Such as the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (ESIGN), or revised laws, such as Article IX of the Uniform Commercial Code (UCC); new industry structures, such as the Mortgage Electronic Registration System (MERS); and the use of new technologies, such as the Internet and electronic recording. The urgent need for a means to coordinate such complex challenges was palpable.
The Frustration
Business was frustrated by an inability to get documents recorded quickly and efficiently.
Government was frustrated by its inability to improve efficiency and customer service through use of new technologies because of a lack of funding. To make matters worse, with no national standards in place, state legislatures were adopting widely differing requirements applicable to property transactions, hampering the growing nationalization and globalization of property financing and ownership.
The Change
In the 1990s, the industry found itself at a crossroads, facing new laws.
Such as the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (ESIGN), or revised laws, such as Article IX of the Uniform Commercial Code (UCC); new industry structures, such as the Mortgage Electronic Registration System (MERS); and the use of new technologies, such as the Internet and electronic recording. The urgent need for a means to coordinate such complex challenges was palpable.
The Change
In the 1990s, the industry found itself at a crossroads, facing new laws.
Such as the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (ESIGN), or revised laws, such as Article IX of the Uniform Commercial Code (UCC); new industry structures, such as the Mortgage Electronic Registration System (MERS); and the use of new technologies, such as the Internet and electronic recording. The urgent need for a means to coordinate such complex challenges was palpable.
The Frustration
Business was frustrated by an inability to get documents recorded quickly and efficiently.
Government was frustrated by its inability to improve efficiency and customer service through use of new technologies because of a lack of funding. To make matters worse, with no national standards in place, state legislatures were adopting widely differing requirements applicable to property transactions, hampering the growing nationalization and globalization of property financing and ownership.
The Change
In the 1990s, the industry found itself at a crossroads, facing new laws.
Such as the Uniform Electronic Transactions Act (UETA) and the Electronic Signatures in Global and National Commerce Act (ESIGN), or revised laws, such as Article IX of the Uniform Commercial Code (UCC); new industry structures, such as the Mortgage Electronic Registration System (MERS); and the use of new technologies, such as the Internet and electronic recording. The urgent need for a means to coordinate such complex challenges was palpable.
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June 9, 2023