Nationwide Title Clearing Inc. (NTC)’s Chief Legal Officer Myron Finley has been was appointed co-chairperson of the Property Records Industry Association (PRIA) Business Processes and Procedures Committee. As a new member, Finley collaborated on a PRIA 2013 Annual Conference panel discussion regarding document indexing standards.
PRIA is an organization that develops and promotes national standards and practices within the land records industry. After the resounding crash suffered by the financial sector in 2008, the industry has emerged from the fallout with stricter regulations and standards geared towards preventing similar situations—making across-the-boards compliance a necessity. As co-chairperson of the Business Processes & Procedures Committee, Finley shared responsibility of the discussion forum, which focused on “Indexing of Grantor/Grantee Names by Land Recording Offices”—Finley participated in facilitating a dialogue about the current state of indexing, or tagging documents with different search terms, to identify challenges and opportunities within the industry.
Designed to provide a venue for industry officials to examine how to meet insular needs with national knowledge, the conference focused on a white paper written in 2001 by Carl R. Ernst, one of the founders of PRIA, which discussed the then state-of-the-art of indexing in the property records industry. Finley, along with his co-chair Kathi Guay and fellow committee members Phil Dunshee and Charles Epperson, was tasked with the responsibility of updating the report to reflect industry developments in the ensuing decade.
The indexing forum, per Finley, allowed NTC and its peers to not only face, but also address the difficulties facing the mortgage industry today in document indexing, a key factor in successful document management. After reviewing the existing state of written indexing standards of recorders nationwide in order to obtain a snapshot of what the industry is actually doing now, NTC will later participate in a nationwide discussion regarding what new standards should be put in place. Many recording jurisdictions were present at the conference, as well as vendors, submitters and recording agents—when questioned about the opportunity of communicating with such a large number of industry leaders at once, Finley stated:
“The [PRIA] conference presented a prime opportunity for those proactive and professional industry leaders to educate themselves, as well as their peers, on the issues that mortgage industry experts nationwide are currently facing. But to address those issues, we first had to identify them—from there, we have a better vantage point from which to view a more cohesive process for the industry.”