Mountain America Credit Union moves to paperless mortgage closings thanks to eSignLive e-signatures and PropertyInfo’s electronic closing system
Montreal, QC, April 8, 2011 - Silanis Technology today announced that Mountain America Credit Union has signed up for QuickClose, a paperless mortgage closing service by PropertyInfo Corporation, a Stewart company. As the electronic signature provider for the QuickClose service, Silanis and PropertyInfo’s solution will enable Mountain America’s 350,000 members to close mortgages in a fraction of the time and cost by enabling all required documents to be compiled, reviewed and signed electronically.
“Mountain America recognizes that everyone’s time is precious, and so we continuously strive to provide our members and business partners with the fastest and best possible service,” said Nathan Anderson, executive vice president of operations for Mountain America. “The QuickClose service will enable our members to review and approve the majority of closing and upfront documents online in the convenience of their homes, thereby greatly reducing the time spent in the closing room.”
What’s more, the time to get to the closing table will be reduced because title agents, real estate professionals and lenders no longer need to schedule multiple in-person meetings, or courier documents back and forth in order to compile the entire closing package. Instead, everyone can now meet online to compile and review the documents electronically over the web in advance of the closing.
Home buyers and business partners then come together in-person at one of Mountain America’s 60 retail branches to formally sign the documents using an electronic signature capture pad. After the mortgage is closed, the recordable documents can be sent electronically to the county clerk/recorder in those jurisdictions where electronic recording exists.
Quick Close is powered by SureClose®, the most widely used transaction management system developed by Stewart that also includes the eClosingRoom™ electronic closing platform. Silanis’ electronic signature solution was first integrated with the eClosingRoom in 2004 when it co-developed the solution with Stewart.
These technologies are responsible for orchestrating the closing process in compliance with all business, legal and regulatory requirements, and producing secure, tamper-proof copies of e-signed records.
Further, Silanis and Stewart’s e-vaulting solution manages the secure transfer and storage of transferable records, such as promissory notes, between e-vaults, and ensuring that the single authoritative copy of the record cannot be altered. About Silanis Silanis solutions have processed hundreds of millions of e-signatures since the company was founded in 1992 (50 million in 2010 alone), making it the most widely used e-signature solution. The world’s largest insurance and financial services companies, government agencies, and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements.