Zenodata Introduces Fully Automated Chain-of-Title Search Technology

'Land Record System' Delivers Industry's Fastest Searches, Highest Degree of Accuracy

(PRWEB) April 19, 2004

Title and mortgage professionals looking for faster land record searches, increased accuracy, reduced costs, and completely electronic results now have access to all these advantages with Zenodata Corporation's new Land Record System (LRS).

Designed for professionals in the lending, title, real estate, legal, and utility industries, Zenodata's LRS produces full title abstracts and other land record reports faster and more accurately than any other system, says Mark Stevenson, Zenodata's CEO. Unlike traditional title plants and systems that simply provide a front end for existing data sources, he says, Zeno-data goes far beyond grantor/grantee and tract indices to extract and import all relevant information from the original source documents. "As a result, Zenodata is creating not only the first completely electronic land record database in the United States, but also the most accurate."

According to Stevenson, LRS decreases time to perform complete title searches by a factor of 5-10, completing most title searches - and generating completed abstract sheets - in 10 minutes or less. Users save an average of 20-30 percent on the cost of title work, he explains, through the faster, more accurate process, and the elimination of manual data entry. LRS "takes away the hassles, missed documents, and human error common to generating title commitments." With title commitment costs representing 40-60 percent of the settlement services bundle, Stevenson says companies of all sizes can significantly improve their bottom lines with LRS.

Zenodata serves both professional users who wish to perform searches themselves, and vendor management companies and corporate users who prefer to receive completed search results delivered to them. Pricing is on a per-transaction or monthly fee basis, with no up-front fees, and no software or hardware to install or maintain.

More than three years in development, LRS is comprised of Zenodata's proprietary Land Record Database, Spider-Search(TM) search engine, and webJAZ(TM) user-interface application. To create the database, the key to LRS, Zenodata produces high-resolution images from the original county documents. A proprietary conversion process then extracts all relevant information from the documents, creating a database with more than 75 fields cross-indexed by physical location, names, and document references. Zenodata's data extraction and analysis process is so thorough, Stevenson says, that it even finds errors on the recorded documents themselves.

webJAZ allows users -- using just a browser and Internet connection -- to conduct "one-button" automated title searches or full custom searches using any combination of names, addresses, legal descriptions, document references, and date ranges. Operating as a skilled abstractor does, SpiderSearch automatically performs hierarchical searching from lot to section, finding all documents related to the search at hand, including those missed with existing county and title plant systems. Powerful analysis and filtering tools increase productivity and guarantee optimum results, says Stevenson. "The best part of a completely electronic database is that search results can auto-populate abstract sheets in PDF or HTML format, or interface to other software packages and databases using XML."

Zenodata is currently adding a county per month to LRS. Through continued scaling of its operations, the company expects to increase that to one county per week within a year, says Stevenson.

Zenodata Corporation (http://www.zenodata.com) develops and markets advanced technology that automates the searching and analysis of land record data for the real estate and lending industries. All Zenodata products leverage the company's proprietary Land Record Database, the first completely electronic, fully indexed database of land/property record information, providing the most accurate source of land record data in the country. Based in Louisville, Colo., and incorporated in 2000, the company employs 350.

###