Thinking about adding secure and efficient e-Signatures to your current
workflow? Well, quite bluntly, not all vendors offering e-Sign solutions are
the same. Just this week we heard of a REALTOR® that ‘grabbed’ an tablet e-Sign
app off the Internet and actually used this tool on a real estate transaction. When asked about levels of security, tamper evident audit trails, non-repudiation and lenders, Fannie Mae, County Recorders acceptance, etc., blank stare – huh?
As electronic and digital signatures affixed to contracts and agreements continue to gain adoption, seems like everyone is now jumping on the bandwagon. We also read where a Mortgage vendor, now claiming expertise, is offering this solution for Free, huh? Same compliance questions – who has certified or willing to accept these as binding?
When it comes to Real Estate and Mortgages, our 30 year old domain experience has advanced our vision for a complete digital, electronic and paperless real estate and mortgage transaction over the Internet. Having collaborated with Industry experts and pioneers for complete ‘buy-in’ we now enjoy at least a 4-5 year head start and provide the Industry’s ‘Holy Grail’ - a pure electronic end-to-end solution – from opening to closing (and beyond).
In another example, the real estate promissory note is probably the highest liability document any consumer will ever sign (representing the asset and in some residential markets that could translate to a $ 10 million or more risk) yet many so called e-Signed experts have not even approached, no less been certified by, the required compliance agencies, huh?
Not all e-Sign vendors are alike – ask the questions.
It’s hard to believe that after more than a decade of the passage the Federal E-Sign Act (June 2000) we are still reeling from headlines like this:
More foreclosure irregularities alleged in Maryland
Former law firm employee says over 1,000 deeds were recorded with false signatures
(Read Full Article)
You have to wonder what else it would take for the Industry to adopt secure and compliant electronic signatures, records, contracts, agreements and processing? ‘Robo-Signing’, backdating and manipulative notarizations, people falsely ‘wet’ paper signing as imposters, etc.-astounding!
Now is the time for all good lenders, servicers and investors to reduce the ‘human error’ factor and protect all parties involved in one of the largest transactions anyone will make in their lifetime. identity verification, authentication, Tamper sealing, document integrity, secure e-Vaulting, etc. No longer an experiment – the time is now to stop the Madness!
After more than a decade of the passage of the e-Sign Act we’re pleased to announce that the Escrow/Settlement Industry is poised to adopt electronic signature technology into their paper intensive processes. In our recent Escrow Survey an overwhelming majority of respondents (67%) stated that they would be adding e-Signatures to their escrow workflow, contracts and agreements within the next 12 months.
Seems like the rapid acceptance and adoption of electronic signatures by real estate agents, buyers and sellers may be the primary cause for this recent change of priorities. Escrow officers and settlement/closing agents generally carry out the instructions from the principal parties and are not particularly known to be ‘early adopters’. Buyers/Sellers/Borrowers, who are becoming more comfortable with e-Signing upfront purchase and counter offers, instructions and agreements, will now be able to complete their transaction over the Internet (anytime, anyplace-even at the airport on their mobile phone) removing most, if not all, the friction associated with current paper-based processes. No paper, no faxing, no scanning, no expensive overnight FedEx or UPS shipping charges and most importantly, no more chasing down missing documents, pages or signatures!
Removing the stress for all parties, especially the overworked escrow officers and closing agents, will be very much appreciated!
We’re excited to be in Woodland, CA for the December 1st launch and training for all members of the Yolo County Association of Realtors (YAR).
Veteran real estate and Settleware founder Rick Triola will also be on hand as YAR becomes the first REALTOR Association in the nation to offer FREE e-Signing and patent protection as a benefit to all members.