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Tue, 09/30/2003

Interface enhances digital closing capabilities for mortgage lenders

SAN DIEGO, Oct. 20, 2003 - Document Systems, Inc. (DSI), a developer of software, tools and Web-based systems for the production of compliant loan document packages, and Safedocs, a Walnut Creek, Calif.-based, end-to-end Web-based closing and post closing solution utilizing biometric signatures and digital notary seals, today announced at MBA's 90th Annual Convention & Expo, the completion of a custom interface between the Safedocs System™ (SDS) and DSI's DocMagic®. This interface creates the most widely accepted document closing solution in the industry that will significantly reduce the cost of lending by lowering the cost to fund real estate loans.

The alliance creates a compliant, secure solution that allows more than 10,000 existing DSI clients to immediately start digitally executing closing loan packages. Safedocs is the original 1999 application service provider (ASP) closing model that reduces integration time to days rather than months for any loan origination system (LOS) or stand-alone application. DSI and Safedocs have created the only truly local, state and federally compliant document solution that incorporates the industry's best biometric authentication technology that has been used to execute millions of legal documents.

The interface brings together flexible document printing capabilities, a library of industry standard documents and the ability to create customized documents. It enables remote closings, digital recordings, history of loan documents throughout the closing process and the delivery of post closing documents.

The SDS safely and seamlessly sends, tracks and executes loan documents between lender, title and escrow firms, recorders and secondary investors. The interface between Safedocs and DSI enables lenders using the SDS digital solution for the loan closing and post closing workflow to retrieve compliant documents from DocMagic, a closing loan document production software system that provides an efficient system for producing and delivering customized loan documents. While in the SDS, lenders are able to securely upload compliant digital documents from DocMagic into the SDS and then execute them for the closing and post-closing workflow process. Once the documents are brought into the SDS, they are biometrically signed, digitally notarized, sealed and wrapped to protect them from tampering and digitally stored.

"Our relationship with Document Systems, Inc. enables us to offer the lending industry a solution that is cost effective, flexible to integrate new and existing technologies and is available today," said Terry Van Bibber, president of Safedocs. "The ability to seamlessly transfer and deliver electronic documents into an ASP model is a proven solution that will reduce the cost of lending and the need for paper documents."

"This interface is important in that it delivers eMortgage capabilities today with technology our customers already have in place and are comfortable with," said Don Iannitti, president and CEO of Document Systems, Inc. "With this competitive edge, our customers will increase market share over competitors who may not have the capability of digitally closing loans."

About Safedocs
Safedocs, founded in Dec. 1999 in Walnut Creek, Calif., is an end-to-end Web-based application that digitizes the loan closing and post closing workflow procedures. Safedocs is industry specific and was designed and built by lending industry professionals to solve the archaic, paper intense loan closing process. The system allows for a stable, secure exchanging and execution of digital documents. Safedocs is UETA, E-SIGN, locally and nationally compliant and is the first system in Calif. to be approved by the Secretary of State to digitally apply biometric signatures and notary seals. For additional information about Safedocs, visit the company's Web site at www.sfdocs.com.

About Document Systems, Inc.
Founded in 1988 and headquartered in Carson, Calif., Document Systems, Inc., is a mortgage technology company that develops software, processes and Web-based systems for the production of compliant loan document packages. Along with it's loan document production system, DocMagic®, DSI provides legal expertise regarding the completion of all applicable forms, and both guarantees and warrants that all agency forms are up-to-date and in compliance with GSE requirements. DSI's staff includes a team of compliance experts that constantly monitor legal and regulatory changes at federal and state levels to ensure accuracy. DSI is the first company in the mortgage industry to develop a fully integrated mortgage customer contact management system, LoanMagicä, that is specifically designed to meet the needs of loan officers to help streamline the tasks involved with acquiring leads, managing contacts and gathering all personal and credit information necessary to secure a loan. For more information on DSI, visit the company's Web site at www.docmagic.com.