In today’s legal landscape, efficiency is crucial. Law firms are expected to manage high transaction volumes, meet increasingly tight closing timelines, all while navigating administrative processes that often remain manual, leading to bottlenecks in the process. One of these persistent bottlenecks is the mortgage discharge process.
These discharge processes continue to create delays, increase administrative burdens, and expose law firms to compliance risk and missed professional obligations
For firms managing multiple transactions at once, this can quickly lead to missed deadlines and delayed closing.
With discharges, legal teams are currently expected to:
- Manually track outstanding undertakings across multiple files
- Monitor lender timelines and follow-up requirements
- Search for status updates across various systems
- Follow-up when needed
How can automation help?
For law firms, automation can eliminate unnecessary friction that often slows down the discharge process. Teranet Undertakings offers a streamlined solution designed to simplify this workflow.
By implementing Teranet Undertakings, firms can significantly reduce the manual effort involved in managing post-closing activities. The platform provides a centralized digital dashboard to manage all mortgage discharge undertakings across sale, purchase, and mortgage files, removing the need for time-consuming post-closing administrative tasks.
The Teranet Undertakings solution offers a simple process, in which Law firms upload their PINs once. From there, the platform monitors automatically and notifies all parties the moment a charge is discharged.
To further streamline the discharge process, users can also expect Teranet Undertakings to:
- Automatically detect discharge registrations, update statuses daily, and notify all parties upon completion – ensuring nothing gets missed.
- Send automated email and fax reminders to follow up on outstanding undertakings from law firms and lenders, creating a consistent, proactive compliance process.
- Instantly generate reports on fulfilled and outstanding undertakings, with all communications centrally tracked and easily accessible for reference.
- Maintain a complete audit trail of reminders, communications, status updates, and fulfillment dates, providing clear evidence of compliance with professional obligations.
How much time will you save with automation?
Since introducing the Teranet Undertakings, law firms have shared how this automated solution has helped further support their day-to-day operations. Users have reported that they have seen a time-savings of 10-15 minutes per file. As a law firm that handles multiple discharges at a time, this can be extensive time-savings throughout the year, which can allow you to dedicate your valuable time and staff resources to serving more clients and growing your business.
“The Teranet Undertakings Solution has been a tremendous improvement in how law offices obtain discharge particulars and follow up on outstanding undertakings. This platform streamlines the entire undertakings process in a way that has saved me a great deal of time. I’m spending far less time preparing letters and calling lenders, which allows me to focus on more pressing client matters.
Senior Law Clerk, 20+ years’ experienceHigh-volume GTA firm
Explore Teranet Undertakings and discover how this solution can enhance your workflows and streamline your business. Get a 1:1 customized demo today to learn more.
