I'm with you on the lack of clarity with Corker's bill and certainly there are arguments on both sides of the federal vs. states' registry issues. This debate has been going on for some time but we have to realize we need to move "titles" in some expedited form to accommodate the commerce.

These securitized pools of mortgages trade like stocks. They move in and out of financial hands for any number of reasons. They can be used as collateral for overnight funds, as an example, and then returned or reassigned some days later.

If one looks at the stock system of trades it's the stock, number of shares, selling broker and buying broker to simplify the process. It's all "electronic". Very seldom does the paper stock certificate move.

The county recorders need some kind of "trusted recorder paradigm" or a PRID (public record ID number). This would allow trusted parties such as title companies, lawyers, banks, investment banks and other trusted financial institutions to move electronic records in and upon the county recorders' registries.

I think of it much like banks. Even your local bank can take a wire in or place a wire out. Yet the local bank still deals to a great extent with paper checks and paper deposits. But it must have these "electronic" attributes to be competitive.

I can handout paper paychecks or I can submit ACH payroll checks with automatic deposits.

So it would seem to be with recorders. Unless they move to address a big congestive problem with assignments we're going to keep seeing bills such as Corker's!

Obviously money is necessary to operate any system. But a system which fails to address the needed attributes is destined to obsolescence. We have to get beyond folding and licking envelopes and stamps and waiting for Mr. Postman!

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