CARSON, CA - October 31, 2006 - Mortgage technology companies Safedocs and Document Systems jointly report that there has been a “tenfold” increase in the number of mortgage lenders seriously exploring the use of electronic signatures for mortgage workflow in 2006. The trend is one in by which “the industry will see mainstream adoption of e-signatures in 2007,” according to Terry Van Bibber, president of Safedocs. DSI, a developer of mortgage technology for compliant loan document preparation and customer contact management, has an alliance with Safedocs, a provider of an end-to-end Web-based application that digitizes the loan closing and reconveyance work flow procedures. “There is a great deal of piloting going on right now,” Van Bibber said. “People are testing the waters. The number of lenders that are now in conversations about moving into electronic signatures has increased tenfold over this time one year ago.” Cost savings, the legal framework for e-signatures as well as new guidance for real estate finance industry from property records and mortgage industry standards maintenance organizations have also helped propel interest, says Van Bibber.
Bank Technology News Bulletin