Public Trustee eBusiness Committee Meeting
July 29, 2005, 1:00PM

Denver County Public Trustee Office
201 W. Colfax, Dept. 101
Denver, CO 80202

MINUTES

Our new Chairman, Alynn Huffman, opened the meeting.  Roll Call was taken.  Present:

Also Present:

Not Present:

The June 3, 2005 minutes were approved with the corrections that Jill Voegtle is no longer with Castle, Meinhold & Stawiarski, and the meeting date changed to July 19, 2005.

Alynn Huffman – PRIA Summer Conference presentation

Alynn gave us some information about what she learned at the conference.  It was very informative and educational for her.  She said there were some very good presentations

She learned that in Colorado our electronic documents are at levels 3 & 4.  There are 12 counties currently accepting eRecordings in Colorado.  These statistics are kept on the Secretary Of State’s web site.  Colorado is far ahead of any other state in the areas of electronic notarization and eRecording

Alynn gave the Public Trustee’s Title Insurance Company Release form to Kathi Guay from Merrimack County, NH.  She is on the standardization committee for PRIA. 

There were also two California Title Companies represented.  They cannot use this form in their states because there are Public Trustees only in Colorado.

The PRIA website is up and running.  You can check their website for any information about PRIA. 

Jack Arrowsmith stated that the Secretary Of State Education Committee is drafting a newsletter to keep all counties and other interested parties informed about what is going on with eBusiness issues.  To get on the e-mail list for this newsletter, you can contact Jack Arrowsmith.  Everyone present wanted to be put on this e-mail list for the newsletter.

Alynn Huffman and Jill Voegtle – Status update on new Title Company Request for Release of Deed of Trust and Release forms

Most of the title companies are still hesitant to move forward with eRecording.  Mercury Companies (Security Title) is investing in their internal processes to start eRecording.  There has been no response from Land Title.  The only area of huge concern is that they believe it gives them a higher possibility of risk as a title company by having both types of releases (full & partial combined) on one form only.  They would back the forms if there were 4 separate ones.  Someone will contact Stewart Title to see if they are using 1 or 2 release forms.  If this is the practice in all the different title companies, we will need to accommodate them.  We definitely will need a new form.  We need to determine if it should it be 1, 2, or 4 new forms.

Bob Sagel revised the release forms on the Public Trustee Association Web site making them capable of being an on-line fill-in form. 

This type of fill in the blank form will be fine.  We would like to have vendors turn these into smart documents that will be capable of being filled in on line if the cost is not prohibitive. Smart docs can be wrapped in XML data.  Adobe 6.0 or higher is necessary for this to happen. 

It was questioned whether we should move toward making our form the only type that we will accept, after a set period of time of accepting other forms; and, then tell the submitters that our form will be the only form we will accept.  We need to have the vendors on board with us to make this happen.   Jack Arrowsmith will follow up with the information shortly if he can get this smart document created. 

Douglas county volume of electronic Releases is up to over 200 for the month of July 2005.  The previous high month was only 160.  Boulder was at 10% for the month of July.

Jack Arrowsmith – electronic foreclosure file standards that comply with PRIA standards

Electronic foreclosures should comply with PRIA; there must be an electronic form of payment, either ACH or a Draw Down Account.  There are high-level requirements needed such as a statewide portal or a local level portal.  Attorney’s who are submitters should not have to purchase any software or hardware to submit documents.  They could send the documents via e-mail or use other means of submitting electronically.  The system must accommodate all levels of submitters.  Jack will send high-level requirements to everyone on this committee.  The language is permissive, and no matter how, if the documents are submitted with XML 2.0 standards, the system should be able to accept the documents.  E-mail is acceptable, as is paper documents.

There are 4 vendors that may develop a system or way of submitting foreclosures electronically.  These vendors are Regional Technology Systems – Seattle, Washington, Government Technology Systems – Denver, Colorado, Kuvera – Boulder, Colorado, and  Arion Zoe Corporation - Tampa Florida.

Jack Arrowsmith – Follow up on eBusiness presentation to the P T’s and Treasurers in Cortez

There was a brief presentation given on eBusiness showing who is involved presently.  The numbers of counties doing eRecording have increased since June in Cortez.  There are more submitters because there are more counties to submit to.  In less than a year 85% of the population of Colorado will be served electronically.  Colorado is far ahead and leading the eGovernment processes in the nation.  There is a huge change in the attitudes toward eBusiness processes.

Larry Castle – Update on Colorado Bar Association Foreclosure Committee

This is still a work in process.   Larry was not present.

MERS Release issues

There was a power point presentation made in Cortez that clarified some of the information about MERS.

The statutes are clear as to who can indemnify the Public Trustee and MERS is not on that list.   If the release  just says MERS, we reject it, but, if it says MERS as nominee for the mortgage company, we accept it. 

There was a discussion about whether we should add the information about MERS, or about other organizations representing the mortgage companies, to the foreclosure re-write, or, propose separate legislation for releases.  Should we piggyback information about MERS from the Foreclosure re-write with the Release information?  Does the legal counsel for MERS, Caren Castle, need to be the contact person for MERS? 

We decided to get the Attorney General’s opinion.  Hopefully it can be done in a timely manner.  There would not need to be temporary legislation.  After the foreclosure statutes have been passed, then change the release statutes.  We need to see the MERS articles of incorporation.  The stockholders are the proper entities.  Jill will contact Caren Castle to prepare the argument to the Attorney General.  Alynn will contact the Executive Committee for approval before Jill proceeds,

New Business

The Education Committee for the Secretary Of State is making proposals to move education about eBusiness forward. 

There is another eBusiness summit being planned to be held in Denver County.  Jill has agreed to take this on as a project.   Do we need a timeslot for Public Trustee’s?  We want to focus on what is going on in the state not outside of the state this time.

The concern is that Denver cannot secure a forum for free.  One day would be good. It was decided on 24th of February, 2006 for the 2nd annual eBusiness Summit.  We will all try to come up with some creative ideas to offset the cost of the facilities.  It was suggested that there be a Clerk & Recorder panel discussion, Public Trustee panel discussion and breakout groups, eBusiness report, Secretary of State report, Public Trustee Association report, futures panel, and to get the title companies involved in some way.  There would be vendors also participating.

Jill and Jack will work together to make this all happen.  Jill will report next month about how it is proceeding.

There was some discussion about the new Douglas County web access.  Jack will provide passwords for interested counties.

Next meeting

The next meeting will September 9, 2005, with lunch at noon, meeting at 1:00 in Gilpin County.

Meeting Adjourned.

Respectfully submitted,

Marilyn Bullard, Secretary