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Posts Tagged ‘electronic signature’

NJ Assembly Approves e-Signatures on Real Estate Contracts and Agreements

May 25th, 2013 No comments

Received a very nice birthday present on May 20, 2013 – the New Jersey General Assembly approved legislation clarifying state law to allow the use of electronic signatures in real estate transactions. The legislation, which was initiated by NJAR®, codifies this allowance in to state law so it is clear electronic signatures can be used in real estate transactions.  Current federal law allows the use of electronic signatures in real estate transactions for the sale, lease, exchange or disposition of any real property. The bill must still be approved by the full State Senate before it can reach Gov. Chris Christie’s desk to be signed into law.

For full legislation: http://www.njleg.state.nj.us/2012/Bills/A4000/3818_I1.PDF

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Why Most Innovation Fails

February 13th, 2013 No comments

Why most innovation fails-there is a better way but I just didn’t know about it!

I was speaking to a friend about NotaryCam, our remote long distance e-Notarizations, when the thought struck me – what does it really take to get disruptive and game changing technology into the mainstream? Let me take a step back and share some thoughts/lessons learned over the past decade.

By now you must have heard about the ‘electronic signature revolution’ and that paper on pen is gone? Truth be told, although the average consumer may have some awareness, most do not know of the many  practical applications available that could actually change their lives each and every day. Despite all the chest pounding and vaporware you see/read every day, according to experts, “global adoption today sits at 1% but going to 50% over next couple of years”. For those that haven’t followed as close as we have you might be very surprised to learn that the US E-Sign Act is coming up on its 13th anniversary, enacted on June 30, 2000, affording e-Signatures legal equivalence to wet-signed originals.

So a somewhat savvy consumer might ask “Hey, I e-Sign my name every time I make a purchase at the grocery store and Home Depot so why am I still receiving documents requesting my ‘wet-signature’ – via email, fax, couriers, snail mail or FedEx”? Reality is you probably did not know that you could have saved a ton of money and time if your service provider would have advised you of the readily available alternative and ‘convenient’ options.

In general, we all believe that ‘only’ the consumer will decide the value of any new innovation but unfortunately, there are many other partners that stand between the innovator and the end-user consumer– in the real estate/mortgage industry that would include lenders, title companies, escrow settlement agents, county recorders, secretaries of state, secondary investors, and the many disparate standard setting groups. So when a borrower/buyer gets a call at the 11th hour that the “loan docs are in-drop everything we only have an hour to get these signed” – you now understand why they didn’t hear ‘by the way, you have an option to legally sign and notarize these documents over the Internet in 5 minutes in your pajamas’? Nothing more than eco–system friction, hence, 1%  global adoption!

Another real world example (and quite frankly what prompted this post), we received a call the other day from an attorney that was in a dilemma and how to get documents for signature to his clients traveling overseas – he received a FedEx quote for more than $125 with a two week turnaround..his decision was a no-brainer, correct? Wrong, he wasn’t comfortable with change and since his client was paying the costs anyway…..I’m certain the client end-user never received the option that they could have executed these agreements on their smart phone or computer in less than 5 minutes at more than a 95% savings.

There is a ‘Better Way’- if only the benefactor knew about it!

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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:

Read More…

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GreenFolders Adds Settleware’s On Demand e-Sign Service

July 9th, 2012 No comments

FOR IMMEDIATE RELEASE

Contact:

Steve McAdams

Director of Marketing

860-466-5406

 

GreenFolders Adds Settleware’s On Demand e-Sign Service

 

July 9, 2012, Salt Lake City, UT – GreenFolders, provider of the GreenFolders electronic office management system announced today that it has partnered with Settleware to bring its users e-signature capabilities.

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

In making the announcement, Mike Kirby President and CEO of GreenFolders stated “ With our ongoing commitment to improving workflow and eliminating paper-based processes, Settleware was a logical and synergistic addition to the GreenFolders platform.” He went on to say “By utilizing their e-Sign technology, our customers will be able to further capitalize on the cost-savings and efficiencies derived from working in a truly electronic environment.”

GreenFolders office management system provides users with the capability to manage, work on, mark-up, share, and store files electronically. With the addition of e-signature capabilities, GreenFolders 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.

“We are excited about this partnership with GreenFolders.” stated Kyle Stephenson, Senior Vice President of Settleware. “As purchasers of real estate become increasingly tech-savvy, industry professionals will need the tools to function in a fully electronic environment.  GreenFolders in conjunction with our real-time service provides this tool.”

Users of GreenFolders latest version will have immediate access to Settleware’s electronic signature services.

About GreenFolders

GreenFolders, Inc., a Utah corporation headquartered in Salt Lake City, Utah, provides innovative electronic office management software solutions that help businesses reach their potential by becoming more efficient, using less paper, and collaborating more effectively. More information about GreenFolders and the GreenFolders office management system is available at www.GreenFolders.com

About Settleware

Since 1999, Settleware has been a pioneering leader in the area of e-signatures. Its patented secure e-Sign solution reduces time frames and eliminates paper-based delays by enabling users of its technology to securely send, e-sign, return,track and eVault any document requiring a signature. More information about Settleware can be found HERE.

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MBA Says FHA and IRS 4506-T Allow E-Signatures 2012

November 13th, 2011 4 comments
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