Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that Kentucky has become the latest state to adopt e-recording and join Simplifile’s network. Simplifile is part of ICE Mortgage Services, which applies technology and high-capacity infrastructure to make the mortgage process electronic and thus more efficient. Hardin County became the first county to go live in Kentucky, followed just minutes later by Jefferson County.
"We are delighted to welcome Hardin and Jefferson counties to our e-recording network," said Paul Clifford, president of Simplifile. "We look forward to helping additional Kentucky municipalities get up and running — a process that usually takes only days — so they can take advantage of e-recording’s significant time and cost savings."
Through Simplifile, settlement agents can scan and submit land records directly to any of the 2,028 participating county recording offices, representing more than 80% of the U.S. population. In just minutes, the county recorder can review, stamp, record and return documents to the settlement agent electronically. In addition, recording fees and associated payments can be processed directly through Simplifile’s secure service, eliminating payment errors and check-writing expenses.
Kentucky joins 48 other U.S. states that have authorized e-recording of deeds, mortgages and other documents to enable faster and more cost-effective land record transactions. Only Vermont has yet to begin e-recording.
"As a result of adopting Simplifile’s e-recording program, the Jefferson County Clerk’s Office Legal Records Division was one of the first counties in the Commonwealth of Kentucky to record a land records document submitted electronically," said Nore Ghibaudy, director of public relations at Jefferson County Clerk's Office. "This process will be time saving for our customers."
For an up-to-date list of counties participating in Simplifile’s e-recording network, visit https://simplifile.com/e-recording-counties/.
Simplifile, part of Intercontinental Exchange, is the nation’s largest e-recording network, and connects settlement agents and county recorders via its e-recording service. It also offers collaboration tools and post-closing visibility for mortgage lenders and settlement agents working together on real estate documents. Through Simplifile, users can securely record, share and track documents, data and fees with ease.
To learn more, visit https://simplifile.com or call 800.460.5657.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)."
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the SEC on February 7, 2019.
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