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78 IN THE NEWS Indecomm's Document Management Group Passes 800-County Milestone Business process outsourcing, learning, and technology solutions leader Indecomm Global Services recently announced that its eRecording services are available in more than 800 U.S. counties. With the 800-county milestone surpassed, Indecomm's eRecording footprint now services 63 percent of all jurisdictions that offer eRecording, which now total 1,273, according to the Property Records Industry Association. Approximately 59 percent of the total U.S. population is covered by Indecomm's current eRecord footprint. Indecomm's recording platform is utilized by HED companies and lenders to send documents by either eRecording or mail. "Indecomm's county footprint is rapidly increasing and clients are seizing the opportunity to use eRecording as a fast and cost-effective way to electronically file documents," said Rajan Nair, CEO, Financial Services Division, Indecomm Global Services. "Access to our over 800 jurisdictions enables them to maximize the benefit of improved recording quality and reduced recording time." e rapid expansion of eRecording into more counties can be attributed to the efforts of the accounting and technology departments at Indecomm, according to Raghu Nair, director of operations, Document Management Group, Indecomm Global Services. "Every county's addition, even one county, inches us closer to getting a document recorded in hours versus months," Raghu Nair said. "Our expansion of eRecording is a dual achievement for us and also for our clients." Even as eRecording continues to serve clients who require paper filing, the expansion team at Indecomm anticipates more growth. "Offering paper filing alongside eRecording enables us to accommodate all of the industry's needs," said Jeff Carlson, SVP, strategic initiatives, Indecomm Global Services. "We are essentially a one-stop shop for every type of recording." Indecomm has more than three decades of experience in mortgage recording, built on proprietary technologies and unique databases of county data. Indecomm has more than 3,500 associates worldwide with offices in the United States, Singapore, the United Kingdom, Malaysia, and India. Corporate headquarters are located in Edison, New Jersey; and Balgalore, India. Indecomm offers consulting, outsourcing, learning, and technology solutions for clients in the financial services, high-tech, life sciences, education, and publishing industries. New York RANK: 2 90+ Day Foreclosure Unemployment Delinquency Rate Rate Rate APRIL 2015 2.38% 3.95% 5.7 YEAR AGO 2.74% 4.97% 6.5 YEAR-OVER-YEAR CHANGE -13.4% -20.6% -0.8 Top County SULLIVAN COUNTY 90+ Day Foreclosure Delinquency Rate Rate APRIL 2015 2.79% 2.01% YEAR AGO 3.08% 1.59% YEAR-OVER-YEAR CHANGE -9.4% 26.7% Top Core-Based Statistical Area AMSTERDAM, NY 90+ Day Foreclosure Delinquency Rate Rate APRIL 2015 4.48% 7.96% YEAR AGO 4.65% 8.76% YEAR-OVER-YEAR CHANGE -3.6% -9.1% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the March 2015 foreclosure rate. All fi gures are rounded to the nearest decimal. The unemployment rate refl ects preliminary March 2015 fi gures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. New York Todd Yovino Broker/Owner Island Advantage Realty, LLC Metropolitan New York and Long Island's Default Specialist for Over 26 Years Todd@iarny.com | 631-820-3400 www.islandadvantage.com IN THE NEWS New York Governor Announces 11 Institutions Will Adopt Best Practices to Fight Zombie Foreclosures As part of an ongoing effort to fight the problem of "zombie" foreclosures in New York, Gov. Andrew Cuomo announced that 11 financial institutions that represent about 70 percent of the state's mortgage market will adopt best practices to fight economic damage and blight zombie properties cause, according to an announcement on Cuomo's website. Banks, mortgage companies, and credit unions comprise the 11 institutions that are participating and include Astoria Bank, Bank of America, Bethpage Federal Credit Union, Citi Mortgage, Green Tree Servicing, M&T Bank, Nationstar, Ocwen, PHH, Ridgewood Savings Bank, and Wells Fargo. e best practices include regular inspections of foreclosed properties to determine if they are vacant and abandoned and then maintaining those properties that are determined to be vacant and abandoned. e institutions will also report those properties that are determined to be vacant and abandoned into a registry developed by the New York State Department of Financial Services. at group will share the information with local government officials to address any concerns about maintenance on these properties with the bank or servicer that is handling the loan. "Zombie properties can bring down the economic health and safety of entire neighborhoods, but by working together, we are taking steps to help strengthen and repair local communities," Cuomo said. "We commend these companies for working with us to address this problem. is action is a win-win that will benefit communities and mortgage owners across the state and should serve as a model for protecting neighborhoods from the dangers of vacant and abandoned properties in the future." Zombie properties—those that are vacant and abandoned but are not yet owned by the mortgagee because the foreclosure process has not been completed—have been a problem throughout New York in the last few years,

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