Weekly News Roundup 6.6.14

Mary Ellen Power, June 7, 2014

Summer weather is finding its way through the final vestiges of spring and as the seasons progress, so does the electronic signature sector. The summer could be a busy time with the E-Sign Live event coming up at the end of June, but in the mean time we have plenty to update you on across the sector as a whole:

E-signature solutions could promote regulatory compliance in mortgages sector

Mortgage lenders face complex and challenging regulatory guidelines as they work with customers to negotiate loans, and these rules are only becoming more difficult to deal with. A recent Mortgage Finance Gazette report explained that simply complying with new regulations is not going to be enough. Instead, lenders need to be able to prove that they have abided by the regulatory laws to verify that they are operating as they should. Electronic signature software could prove vital in this area as it provides the built-in audit trail needed to track which processes lenders performed and when.

Texas county deploys e-signature system

The Cameron County Commissioner's Court recently approved an expansion to the region's electronic documenting system that will include electronic signature software. A recent report from The Brownsville Herald explained that the electronic signature solution will be used as part of a larger data sharing initiative that is aimed at improving collaboration across various law enforcement institutions in the county.

E-signatures may come in possible will law revisions

There has been significant discussion around the thought of revising will laws in United Kingdom, and there is a possibility that electronic signature policy could come into play. Industry expert David Edmonds told Legal Futures that recent European Union guidelines for e-signature use could end up opening up new possibilities for electronic wills, something that could come up when legislation revisions are considered.

Checks a major cause of payment fraud, e-signatures can help

A recent Association for Financial Professionals study explored the causes of financial fraud and found that the vast majority of incidents had to do with issues pertaining to checks. This has combined with other means of fraud to lead more businesses to seek advanced security solutions to protect data and prevent fraud. Electronic signatures are among the solutions being discussed as a possible option in the fight against payment fraud, Pymnts.com reported.

That's everything for this week's roundup of e-signature news, check back with us next week for another update on the industry.