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Settleware® Partners with FormsRus

October 29th, 2012 No comments

Settleware® Partners with FormsRus

For Immediate Release

Electronic signature and e-Notary leader partners with formsRUs providing Settleware’s pioneering and patented e-Sign service to more than 100,000 real estate agent members.  Settleware streamlines cumbersome process by eliminating all associated paper-based friction and allows parties to securely process contracts and agreements in the Cloud-anytime and from anywhere.

October 29, 2012, Newport Beach, CA – Settleware Secure Services, Inc., the visionary electronic signature leader, announced today that it has partnered with formsRus.com, a leading provider of an online forms management system specializing in real estate associations, to bring its associations and members secure e-signature capabilities.

For over a decade, Settleware has been a pioneering leader in the area of electronic signatures. Based on patented secured technology, Settleware’s real-time signing solution fully automates contract execution – collapsing to minutes a cumbersome process that often takes days or weeks.

“We are thrilled about this partnership with formsRus.com,” stated C. Richard Triola, President & CEO of Settleware. “With their expertise and expansive footprint and, as purchasers of real estate become increasingly tech-savvy, industry professionals will need the tools to function in a fully electronic, compliant and paperless environment. FormsRus.com in conjunction with our on demand service provides this tool,” Rick continued.

The formsRus online forms management system provides users with the capability to create, manage, organize, work on, mark-up, share and store forms files electronically. With the addition of e-signature capabilities, formsRus.com users will be able to take a document from creation through execution and to final storage in an entirely electronic format – eliminating the need for paper.

Matt Maynard President of formsRus.com stated “ With our ongoing commitment to improving workflow and eliminating paper-based processes, Settleware was a logical and synergistic addition to the formsRus platform.” He went on to say “By licensing Settleware’s e-Sign platform and intellectual property, our customers will be able to further capitalize on the cost-savings and efficiencies derived from working in a truly electronic environment – well into the future.”

Real estate associations that have currently deployed formsRUs and their respective 100,000 member agents will have immediate access to Settleware’s electronic signature services.

About FormsRus.com

FormsRus.com, Inc., an Ohio corporation headquartered in Columbus, OH, provides innovative online document forms management solutions that help businesses reach their potential by putting all of their company/association forms securely online. This leads to businesses becoming more efficient, using less paper, and collaborating more effectively. More information about formsRus.com and the formsRus.com online forms management system is available at www.formsrus.com

About Settleware Secure Services, Inc.

Settleware® has been a pioneering leader in the area of e-signatures to the Real Estate and Mortgage Industry since 1999. Its patented secure electronic signature solution has been certified by County Recorders, Secretaries of State, MERS e-Registry and Fannie Mae – providing the only end-to-end transaction in a pure compliant, electronic and paperless environment. Cloud computing services reduces time frames and eliminates paper-based delays by enabling users of its technology to securely send, e-sign, return, track and e-Vault any contract and agreement requiring  signatures or initials. If you would like to learn more about Settleware, call 888.632.3833 or send an email to info@settleware.com. Join the discussion by subscribing to the Settleware’s blog at www.settleware.com/blog and become a Friend on Facebook.

 

Contact:

pr@settleware.com

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Settleware E-Sign Solution Compliant with Bank of America

October 17th, 2012 No comments

 

We’re proud to announce that our pioneering e-Signature solution to the real estate and mortgage Industry is compliant with Bank of America rules and guidelines. For more specifics please review BOA’s guidelines:

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Mastering the Real Estate Eco-System

October 16th, 2012 No comments


Settleware® Secure Services, inc.

CREATE.CONSENT.CLOSE

 E-Book: Mastering the Real Estate Eco-System

Chapter One: The Early Days – Why We Do What We Do

As we continue  to espouse the security and benefits of electronic real estate/mortgage transactions we’re surprised to see the audience amazement when they learn that we have been beating this drum for more than a decade. In the late 90′s (formerly ezEscow.com), we had a clear focus to streamline the entire real estate and mortgage transaction by connecting all parties, documents and vendors over the Internet – without a single piece of paper. The enabling ‘glue’ – electronic signatures.

The Electronic Signatures in Global and National Commerce Act (E-Sign Act), signed into law on June 30, 2000 by President Clinton, provides a rule of validity for electronic records and signatures for transactions in or affecting interstate or foreign commerce. The E-Sign Act allows the use of electronic records to satisfy any statute, regulation, or rule of law requiring that such information be provided in writing, if the consumer has affirmatively consented to such use and has not withdrawn such consent. Subject to certain exceptions, the substantive provisions of the law were effective on October 1, 2000. Record retention requirements became effective on March 1, 2001.

Operating three independent escrow offices in Orange County, CA , each separated by a 20 minute drive-time, we were challenged by the distance to ‘match’ up personalities between our real estate professional partners and our seasoned expert escrow officers. We often heard “I don’t want me or my clients to have to drive all that distance to sign docs”.  AHA moment!!

The internet was coming into its’ own, escrow officers had no clue what a ‘ mouse’ was  - what’s an email? Time to create a novel concept and competitive differentiator – connect all parties, processes, documents and vendors over the internet, real-time, without any human touching a single piece of paper, fax, scan, courier or even a stamp, removing all the associated ‘paper-based’ friction and compliance issues (ready to close only to find missing documents, signatures, initials, pages, etc.) US & Int’l patents issued and pending.

Actually, let me take you back a few steps further. I have been a licensed real estate professional in CA & NY, since leaving Wall Street in the late 70′s. (OK, I’m not really 39-again) While practicing in NY in the early 90′s we made the futile attempt the mirror the CA real estate closing settlement process and eliminate the need for the antiquated ‘sit-down’ closing, which was typically scheduled at the last minute, at an inconvenient time and location for all parties, especially  buyers and sellers. The transaction was already stressful enough and now all parties needed to scramble to get to the ‘table’. Sitting down in a room with all the principles and lawyers (each one representing their respective buyers, sellers, lenders and title company) the process then became the art of 11th hour negotiations. Anyway, you get the picture-it was ugly and in desperate need of change. Cutting to the chase- legislatures (mostly attorneys) put up the wall and roadblocks to protect their turf so we needed to pivot.

By electronically connecting principals, documents and all participants we could then process real estate transactions all over the World from a single location. So the journey began. We clearly understood the complicated Eco-System – we needed to collaborate with every service provider that ‘touched’ the transaction, knowing that if we didn’t have 100% buy-in we would not see complete adoption anytime soon. Lenders said ‘if you get title to issue insurance on the e-transaction and secondary investors (Fannie Mae, etc.) to purchase the loan/note we’re in’, Title mentioned ‘if you get the County Recorders to accept e-Recordings we’re good’ , followed by MERS e-Registry ( e-Vault) and Secretaries of State (e- Notary). In 2002, Detroit Red Wing star, Ladislav Kahn, e-signed a real estate escrow agreement, on the ice while he was practicing for the Stanley Cup playoffs (they won!) In 2004, partnering with Home Loan Center.com ( Lending Tree) we processed the first paperless, electronic and all digital deed of trust in Orange County, CA – a savings of $330.00 for this one single step of the transaction was gained by all stakeholders. WOW- what a no Brainer!

Next step, as you may be aware not all lenders portfolio their own loans so we needed to have a secondary investor like Wells Fargo, Countrywide or Fannie Mae purchase these loans electronically. Working closely with American First Credit Union, Countrywide, Fannie Mae and MERS e-Registry we successfully registered and sold an electronic promissory note in 1 minute and 37 seconds (most likely the highest liability document that any consumer will execute in their lifetime). Security was the highest priority, not only for this entire pilot team but for the Industry as a whole-we could not tolerate a single incident of fraud or it would set the Industry back for years! Amazing- lenders could shave off 10-14 days of interest charges, get the funds same day and loan it out again.

In Chapter Two, we’ll discuss the real estate implosion, robo-signing and how the Escrow Settlement providers are now ‘taking the field…

October, 2012

Rick Triola, Founder rick.triola@settleware.com

www.settleware.com

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