Boomerang Information Services Honored as Best for Workers

Boomerang is honored to be in the Best for Workers list, which includes businesses that earned a Workers score in the top 10 percent of more than 2,100 Certified B Corporations on the B Impact Assessment. The assessment measures a company's impact on its workers, community, customers and the environment. To certify as B Corporations, companies like Boomerang must complete the full assessment and have their answers verified by B Lab.

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Meet the Team

Title Department

Meet Dave and Nick!   Dave is our Director of Title and Nick is our Title Research Specialist.  Combined, they both have over 35 years of experience in title research.  We pulled them away momentarily to ask them for some advice on placing an order with our Title Department

Dave:  “Having a parcel ID number (PIN) and/or a legal description may be useful if the County Assessor doesn't match the address your client provided to you.  Sometimes, a mailing address is confused with the situs address that a county has on file for your subject property. With a parcel ID number or legal description, however, you'll almost never go wrong.”

Nick:  “When researching judgments and liens against common names, it's always helpful to have a middle initial to cross-reference.  Using the extra information, it would definitely cut down on unnecessary copy costs of John Smiths that would need to be researched, providing your client with more accurate results and a much faster turnaround time.”

Dave:  “Each state has different laws regarding probate cases and wills, as well as different forums they may be filed in and how they affect the property. ”

Nick:  “Depending on which state the property is located in, documents may need to be filed in either one or both the circuit court and the county clerk's office.”

UCC Department

Our top UCC researchers, Mike and Grant are our UCC research specialists who conduct research in our midwestern coverage area.  Mike is an ALTA certified searcher with over 5 years of experience in the business.  Grant is a writing and researching specialist who’s been with Boomerang for the last three years.

Here are Mike’s and Grant’s tips to ensure accurate results for all of your county search needs:

Mike:  “Provide an individual's middle initial and date of birth when requesting a criminal court search.  Middle initials help specify results, and a date of birth is required when we have to perform these searches.”

Grant:  “Looking for a particular document for your UCC search?  Let us know the document number.  Sometimes company names and individuals can be misspelled, incorrectly indexed, have two UCC document numbers, you name it!  But with more information, we can make sure you get the right information you need.”

Don’t Forget:

  • Provide as much information on the target as possible

  • Know where your searching (county, state, and/or municipality) so we know where to look for results  

  • If you ever have any questions on how to best approach the results you’re looking for, just ask!  You can email us at orders@boomerangis.com, or call at 312-662-1206

 

BIS_WordsOfWisdom

James Wood Promoted to Director of Operations

It is with great enthusiasm and pride that I accept the task of Director of Operation for Boomerang Information Services. Over the last five years my responsibilities at Boomerang have grown to include roles in development, management and operations. With this recent alignment, I look forward to pushing Boomerang towards being a more modern and dynamic service company. The changes and improvements to Boomerang wont happen overnight, but in anticipation of upcoming improvements, here are some things to keep an eye out for: 

  • Improved order turn around time (TAT): Over the last 15 years of operation, Boomerang has prided itself in prompt customer service and reliably fast results. Over the years, we have worked to exceed client expectations in both of these areas - and will continue to do so over the next year. Our goal is to improve average TAT by 20%… It wont be easy, but we’re up for the challenge. 
  • Expanded service area: In 2016, we oversaw the opening of offices in Seattle and Boston - expanding Boomerang’s coverage area to include the east and west coast. This expansion was encouraged by our clients who were looking for variety and reliability in their vendor networks for these regions. We delivered on that goal last year, and intend to continue in that pioneering effort through 2017. 
  • Increased range of services: Everyday we are met with a client request that we aren’t yet capable of offering. In 2017 we plan to review our suite of services to see where improvements, additions and growth can be made. Our hope is to be the one-stop-shop for comprehensive, reliable, well priced corporate services.

Over my past five years at Boomerang, I have seen this company develop and improve dramatically; and in that development, we have built relationships with many happy clients and customers. It is with that proven roadmap of success that we plan to continue into the next year, and many years to come.

Artificial Intelligence: The Great Disruptor

As AI becomes a foundational technology in the global economy and the advances begin to accelerate, calculations are being made on how professional landscapes will begin to change with those advances. It was initially believed that machines would take over factory jobs and manual labor tasks, but as the technology becomes more sophisticated, the list of professions at risk of automation has grown significantly into the sectors of finance, healthcare, and law.

In a report completed by McKinsey Global Institute, researchers found that across the job sectors reviewed, many tasks are ripe for automation. The report finds that 49 percent of time spent on work activities can be automated with “currently demonstrated technology,” but that this automation will not lead to immediate job loss, rather than job transformation. Several other reports estimate potential job automation somewhere between 9 to 50 percent. We know the job landscape will change, but to what degree has yet to be seen.

One sector being targeted by AI companies is the legal field, current applications cover the tasks of document review, litigation support, and transaction search and file tasks; however, plans for more advanced technology will assist in court case planning and strategy, a task thought to be reserved for seasoned attorneys. With the introduction of new technologies built around machine learning and artificial intelligence, tasks which historically required the support of several paralegals are now being replaced with digital tools created by IBM, Ross Intelligence, Nextlaw Labs, and Lex Machina. 

It has yet to be determined how quickly these technologies will work their way in the legal industry; an industry which historically has been slow to adopt new technologies. One thing that is a certain determinant of changes to come is that money will ultimately direct the market. As technologies improve and humans become more comfortable with integrating automation, the price demands will decrease and changes will follow for all actors in the legal field - Boomerang included. In the information age and the age of machine learning, industries will be forced to adapt with the technologies advancing it. At Boomerang we are working to be at the forefront of those advances, and adapt in a way that advantages us and our clients.

Stay Connected With us

Boomerang Information Services is reaching out to stay connected with you. The top three ways to keep up on our latest news and updates is by connecting with us on our Facebook, LinkedIn, and this website.

Every week we try to have at least one post on our Facebook and LinkedIn that will give you insight of our business. We post our “Tip to Success” monthly, which is a way to provide some extra advice in certain areas that might interest our clients. Along with that, we also make an effort to post a testimonial from one of our clients, so you can hear about their personal experiences in working with BIS. We do our best to keep you updated on new locations and new opportunities that arise. On our Facebook and LinkedIn, we also post short articles about unique business trends and interesting developments.

Our website, is another great way to stay connected with us and it has a fresh look. You may notice, our online presence recently got a new facelift and we now have a blog that is showcasing all of our news. Our blog features important articles and information in an effort to keep our clients “in-the-know”. Our website also provides information about our locations, services, and ways to contact us. 

As we continue to develop our outward communication to you, we hope you connect with us and encourage you to ask questions or join in on the conversation! If you are interesting in joining our email list, please let us know. 

 

Check Us Out: 

Facebook 

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 http://www.boomerangis.com 

 

 

Boomerang's Story

By: James Wood

Most small businesses begin as a Cinderella story. They are born into a market with little name recognition or competitive edge; and if they are fortunate enough for an opportunity to create that name, the pressure of success if immense. Boomerang is no exception to that narrative. 

It was the summer of 2002 when Boomerang was provided that opportunity to break into a market and create a name for itself. In that summer, Boomerang was a small operation built up by an ambitious entrepreneur, his laptop, and a newly limited certificate of incorporation. John Pratt, founder, president and CEO of Boomerang, set out to recreate the methods and expectations of a service industry that was in need of disruption. His vision was to build a streamlined and customer focused service company, one that delivered fast and accurate results with every order.

In that first summer, Boomerang operated with 3 loyal clients, and had a limited service area to Cook county, Illinois and the City of Chicago. Over the next 14 years that one laptop would evolve into work stations spanned across the county; and that limited service area would advance into over 700 jurisdictions.

One thing always remained consistent to the Boomerang story: a customer first approach that prioritized reliable, efficient, and responsive service. Over the next years, Boomerang will continue to grow and evolve, but that foundation, the skeleton, will always remain intact. No matter what county, city, or region a Boomerang office is operating, clients can always rely on friendly, expert, and efficient due diligence.

 

The Ultimate Liquid Asset

By: John Pratt

Who knew collateral could be so much fun? 

Here in Chicago, a well-known restaurateur is financing his newest venture with a loan obtained with his aging wine collection as collateral. Rather than simply letting his $300,000 wine collection age for years in a forgotten cellar, Nick Gangas decided to put it to work for him. With his fine wines as collateral, Mr. Gangas was able to obtain a $150,000 loan at much lower interest rates (think 8-10%) than traditional lines of credit.

The emergence of the Uniform Commercial Code (UCC) has made it possible for art and wine collectors alike to keep their collections rather than turning that collateral over to a lender. Since UCCs are legally binding, they also ensure that lenders are able to seize collateral should the borrower default on their loan. It’s a win-win for everyone.

There are a few caveats that need to be mentioned, however. Wine used as collateral must be valued and verified by an expert, and each bottle (or case) must have proper documentation in order to minimize the risk of fraud. It must also be stored in an approved facility and cannot be moved until the loan has been repaid. Even with these stipulations, opening more options to those looking for financing is always good for business and entrepreneurship.

While the number of people with valuable wine collections is fairly small, the ability to obtain financing through these less traditional means, as a result of the UCC, indicates an important and potentially lucrative shift in the lending market. In the near future, we may see more restaurant entrepreneurs financing their dreams off the wine stock in their cellars.