Android Image / text overlay to saved file while recording video.

I require code to record video from an Android device and overlay images and text over it prior to being saved to file. The Preview must also have the images and text in it as well as the saved file. The project needs to be efficient and also needs to have a decent FPS. To satisfy the requirement I will need a Video strem captured by the camera to have at least 1 image and 1 text item that can be changed overlayed and saved on the fly whilst still recording.