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» VISIT US ONLINE @ DSNEWS.COM 81 most challenging aspects of servicing transfers. "Freddie Mac is focused on enabling buyers and sellers to interact in ways that allow them to do business better, faster, and more effi- ciently," said Hakan Beygo, Senior Director of Freddie Mac's Single-Family Office of the Cli- ent. "We're delighted to work with LoanLog- ics and believe they will be valuable in helping us continually enhance our FAST offering." e FAST tool leverages LoanLog- ics' IDEA (Intelligent Data Extraction and Automation) technology, which uses machine learning and other capabilities to transform digital images and scanned documents into verified and validated information for loan boarding. IDEA can be configured to support any servicer's defined naming conventions, stacking orders and required document sets. It includes data extraction for required informa- tion found only in documents and leverages machine learning for the accurate versioning and indexing of all documents. "We are very pleased to partner with Fred- die Mac and to play an important role in the FAST initiative, which is revolutionizing the way mortgage servicing rights are exchanged," said Craig Riddell, EVP and Chief Business Officer of LoanLogics. "With our technology, the FAST tool can validate loan data coming in from lender systems, identify areas where there are gaps or inconsistencies, and share that information back through FAST's inter- active portal. We look forward to an even more productive relationship with Freddie Mac as it expands FAST to include co-issue support." LoanLogics will also provide technology enhancements to expand the capabilities of FAST in support of Freddie Mac's Co-Issue XChange. RHODE ISLAND The Town of Westerly Begins E-Recording Simplifile, a tech provider for real estate documentation, has announced that the town of Westerly in Rhode Island has joined its e- recording network following the July 1 passage of a law authorizing e-recording statewide. "is is a terrific development for Rhode Island settlement agents and municipal record- ers, who have long expressed an interest in modernizing their recording processes," said Paul Clifford, President of Simplifile. "We're ready to help additional municipalities get up and running—a process that usually takes only days—so they can take advantage of e-record- ing's significant time and cost savings." Rhode Island joins 47 other U.S. states that have authorized e-recording of deeds, mort- gages, and other documents to enable faster and more cost-effective land record transac- tions. Only Kentucky and Vermont have yet to begin e-recording. Simplifile said that its e-recording service is available in 54% of all U.S. counties. rough this technology, settlement agents can scan and submit land records directly to any of the 1,965 participating county recording offices. In just minutes, the county recorder can review, stamp, record, and return documents to the settlement agent electronically. Additionally, recording fees and associated payments can be processed directly through Simplifile's secure service, eliminating payment errors and check- writing expenses. Headquartered in Provo, Utah, Simplifile has the nation's largest e-recording network. e company was founded in 2000 to connect settlement agents and county recorders via its e-recording service. Today, Simplifile has broadened its services to include collaboration tools and post-closing visibility for mort- gage lenders and settlement agents working together on real estate documents. rough Simplifile, users can securely record, share and track documents, data, and fees with ease. Pennsylvania The Team with More than 10 Years' REO Experience Emma Djiya, Broker 1st Class Realty 98 Forest Drive, Lords Valley, PA 18428 610.301.8803 (c) 570.775.6110 (o) 1stClassREO@gmail.com AroundThePoconos.com THE LEADER IN DEFAULT SERVICING NEWS Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. According to a September report from ATTOM Data Solutions, Rhode Island was one of 21 states that posted a month- over-month decline in foreclosure activity in August. KNOW THIS