Registration and Conveyencing

Purpose
Build a large, profitable global business that unleashes the full potential of the world's real estate for humanity

Principles

• Go big or go home
• Transparency first
• Build around a public registry for all based on open source technologies
• Must build the best, best fit team
• Flexibility will drive success

Outcome

• Consolidate the US deed registration software market
• Replace MERS with a public registry
• Purchase the English land registry
• Build the leading emerging market land registry software business

Who Buys What?

• eRecording -- title company, bank, attorney, lien filer
• Deed registration software -- county governments
• MERS -- mortgage banks, title companies, Fannie, Freddie

eRecording Benefits

• Better document security
• Increases document turnaround speed
• Less risk from smaller recording gap
• Simplified payments
• Convenience and efficiency

MERS Problem Statement

• Incomplete
• Owned by largest banks, potential competitors
• Not transparent
• Operates as a dual system with the counties
• Unreliable nominee (certifying officers)

Deed Software Problem Statement

• Losing transfer fees to MERS
• Conveyancing (recording) is still mostly manual
• License and support is expensive

Inertial Challenges

• How do you sell in the network benefits without the network (MERS)?
• Lack of industry standards for deed registration
• Overlap between deed registration software and other government software
• Lack of commercial, service focus of government entities
• Rip out and replace requirements could slow sales

Key Needs

• Validate the process map
• Validate pain points
• Profile eRecording and government software markets
• Points of integration between eRecording and government software
• MERS process flow

Untitled Slide

Untitled Slide