eSignLive announces a cost-effective, secure electronic disclosure delivery solution for high-volume, mortgage transactions

October 22, 2006

Montreal, QC, October 23, 2006 — Silanis Technology, the leader in enterprise electronic signature solutions for financial services transactions, today announced a secure electronic disclosure delivery solution for the mortgage industry. This licensed solution provides lenders and service providers with a cost-effective system for presenting and delivering high volumes of disclosure and application documents for review and acceptance over the web.

Available as part of Silanis’ ApproveIt® Web Server offering, the solution ensures that all documentation is securely delivered and presented to borrowers in the correct format and sequence, as mandated by all applicable laws and regulations. This includes guiding borrowers to accept the terms of E-SIGN before beginning the electronic review and acceptance process; ensuring all disclosure documents are delivered and presented in the right order; accurately presenting disclosure documents within a web browser as per State regulations; and ensuring borrowers have access to a copy of all documents as required by E-SIGN. The solution also records an audit trail of the entire electronic process which serves as electronic evidence should the transaction ever be disputed in a court of law.

“There is increasing momentum within the mortgage industry to shorten loan application cycles and cut costs by moving towards paperless processes,” said Michael Laurie, co-founder and vice-president of Silanis. “Lenders and service providers recognize that electronic delivery of disclosures is the key to making this a reality however they are seeking the most cost-effective method possible for bringing these processes on-line.”

Silanis meets these expectations by offering lenders and service providers a licensed solution that minimizes ongoing costs compared to an outsourced service.   Moreover, because the solution sits within the licensee’s IT infrastructure, Silanis customers have greater control of their processes and can make changes as needed. This allows for greater flexibility, scalability and reliability, and lowers total-cost-of-ownership.

Another advantage of Silanis’ electronic disclosure delivery solution is that it allows lenders and service providers to easily add electronic signing capabilities to their offerings with the assurance that it has a proven track record within the mortgage industry. The solution shares the same technology platform as ApproveIt® Web server and can be used optionally for electronic signing depending on the lenders application process. The solution has also been in production at a number of leading financial institutions since 2002.

“Lenders and service providers can begin their move towards paperless, mortgage processes with the electronic delivery of disclosure documents and then add electronic signatures at a later date when they ready. Or, they can roll-out both at the same time,” said Laurie. “Either way, Silanis provides them with a reliable, flexible and scalable solution that will grow with their needs.”

Silanis’ electronic disclosure delivery solution consists of three components: 1) A technology platform that ensure compliance with applicable laws, standards and policies, as well as provides support for mortgage industry standards such as SMART docs and Adobe PDF documents; 2) Professional services to ensure smooth integration with lenders’ and service providers’ loan origination systems; and 3) Optional customization services to help organizations develop a customer portal for interfacing with the documents.

About Silanis

Founded in 1992, Silanis Technology Inc. is the largest and most experienced provider of electronic signature solutions. More than 1,100 government and commercial organizations, representing two million users, depend on Silanis' solutions to accelerate operations, improve service, and reduce costs. The company’s solutions not only eliminate the inefficiencies of paper, they provide reliable and auditable business records needed to demonstrate compliance with applicable laws, standards, regulations and policies.