eNotarization Delivers Essential Element for Paperless Mortgage Closings
Solution Powered by Silanis, Stewart, Interlink Electronics and the National Notary Association
Montreal, October 24, 2004 — Silanis, the market leader in automating business approval processes, announced today that it is working with Stewart Title and the National Notary Association (NNA) to deliver the first implementation of eNotarization capabilities for paperless mortgage closings at a title office. The three organizations are working together to incorporate the NNA Enjoa® signing tablet into Stewart’s eClosingRoom™, a key part of their SureClose® platform, providing another essential component for paperless mortgage closings. Stewart Title is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC).
Electronic notarization standards and technologies such as Enjoa®, an electronic Notary journal designed by notary experts at the NNA and built by Interlink Electronics, will revolutionize the traditional Notary process and support the electronic closing process. Enjoa® allows Notaries to securely capture and store a borrower’s signature, thumbprint and photograph, satisfying all applicable state notary recordkeeping laws and leaving no doubt regarding the identity of the signer. Enjoa® also functions as a signature tablet that allows borrowers to sign electronic documents in Stewart’s eClosingRoom.
SureClose will initially support electronic notarization of closing documents using stored digital certificates created for each closing officer, notary public, attorney or other party serving in the role of a notary officer for a transaction within SureClose. This ePersona™, a component of the Silanis Technology software powering eClosingRoom, provides a unique profile for each notary containing their notary information, digital certificate and/or an image of their notary stamp/seal or electronic signature.
“Just as the role of the notary is a critical component in paper-based real estate closings today, electronic notarization will be an equally critical component of electronic closings,” said Darren Ross, director of electronic commerce for Stewart Information Services Corp. “Using electronic notarization at closings will significantly reduce process times and eliminate the stacks of paper for the office and the customer.”
Silanis Technology is the leading provider of solutions that automate the Business Approval Process. The company’s award winning desktop and server-based solutions leverage electronic signature and approval technology to achieve total automation. With over 1,000 customers across government, mortgage, auto finance, insurance, banking and FDA regulated industries, Silanis has over a decade of experience in developing and delivering solutions that work the way organizations do. Government customers include NIH NIAID, USPS OIG, US Mint, and an enterprise license with both the US Joint Chiefs of Staff and the US Army.
Mary Ellen Power (514) 337-5255 ext. 1117 [email protected]