eSignLive Technology Key to Stewart's New Electronic Disclosure Solution
Stewart is one of Silanis Technology's principal clients, using the leading e-signature provider's ApproveIt Web Server to automate mortgage closings and, now, disclosures. The paperless mortgage has arrived.
Montreal, QC, October 15, 2007 — Leading e-signature provider Silanis Technology is proud to announce that it is the provider of the enterprise electronic signature and delivery technology in Stewart's electronic disclosure solution, announced by Stewart today at the Mortgage Bankers Association's Annual Convention & Expo.
This new eDisclosure offering, from Stewart Company On-Line Documents, Inc., provides lenders with the ability to electronically transmit and display initial mortgage disclosure documents to borrowers in a secure, online, consumer-friendly environment.
"Stewart is once again demonstrating its commitment to offering end-to-end eMortgage solutions by adding support for eDisclosures," said Silanis CEO Richard L. Warren.
"Because disclosures are a highly regulated and crucial part of the mortgage process," he continued, "delivering them electronically helps lenders to better demonstrate compliance, while making the mortgage process much easier for the consumer."
This offering comes at a time when electronic mortgages are on the rise, with online mortgage originations by the top 20 lenders up by 73 percent in the second quarter of 2007, according to a recent Mortgage Technology article.
As the foundation of this latest Stewart offering, Silanis' ApproveIt Web Server enables both the electronic presentation and the electronic delivery of regulated documentation (in this case, disclosures), in the correct format and sequence, as mandated by applicable laws and regulations.
Silanis' solution guides borrowers to accept the terms of the Electronic Signatures in Global and National Commerce (ESIGN) Act before beginning the electronic review and acceptance process. It captures and stores an audit trail of the entire process to serve as electronic evidence, should anyone challenge the transaction.
Silanis is a co-developer of Stewart's groundbreaking eClosingRoomTM, an online portal that enables completely paperless mortgage closings. Stewart has also automated its title offices’ workflow and business process by integrating Silanis’ e-signature management solutions into its transaction management system.
With this latest offering, Silanis significantly expands its contribution to helping Stewart provide lenders with an end-to-end solution.
Founded in 1992, Silanis Technology Inc. is the largest and most experienced provider of electronic signature solutions. More than 1,400 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.