DATA TRACE AUTOMATES HAWAII LAND COURT SYSTEM


March 12, 2002, ANAHEIM, Calif.

Data Trace LLC, the nation’s largest provider of title plant services, today announced that it has automated Hawaii’s Land Court system. For the first time, Data Trace customers can conduct electronic property and owner name searches on Land Court records dating back to January 1991. Through Data Trace, Hawaii title companies can now perform fully automated title searches.

“Automating the Land Court records is an important milestone in our continued expansion of the Data Trace system,” said Michael T. Henney, Data Trace president. “We are committed to introducing our platform into new markets and jurisdictions, providing speed, efficiency and integrity to an increasing share of U.S. real estate transactions.”

Hawaii’s land recording process spans two recording systems: a conventional, statewide registration process; and the Land Court, which is under the jurisdiction of the Hawaii state judiciary. Until now, only transactions recorded in the conventional registration system have been electronically indexed and searchable in the Data Trace system, necessitating manual property searches to complete real estate transactions for approximately one-third of Hawaii’s real estate properties.

Through the Data Trace system, title companies serving the Hawaii real estate and mortgage finance markets can use owner name and property indexes to conduct statewide property searches. Users can retrieve title chains, tag and retrieve electronic images of land records, and perform automated date-downs prior to closing. Hawaii records are updated daily with new recordings. 

Data Trace, a joint venture company owned by The First American Corporation (NYSE: FAF) and LandAmerica Financial Group (NYSE: LFG), provides technology that enables title insurance companies to connect regional title databases and access them using a standard software interface. The Data Trace system, the largest and most advanced of its kind, delivers title history information, property tax assessment and payment data, document images, and property profiles in major metropolitan areas across the United States. With coverage in 20 states, Data Trace’s title plant and tax database of nearly one billion records is the broadest and most comprehensive title information system available, and is used by every major title insurance underwriter in the U.S. For additional information, visit Data Trace's Web site at www.edatatrace.com.

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