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Settleware Awarded Patent for E-Signing Technology

June 28th, 2012 2 comments


Settleware Secure Services, Inc., a pioneer of the e-signing industry, was recently awarded a patent for its paperless real estate and mortgage transaction technology.

NEWPORT BEACH, CA, June 25, 2012—On June 19, the U.S. Patent and Trademark Office expanded Settleware Secure Services, Inc’s. Patent portfolio by awarding the company patent No. 8,204,807 relating to its innovative e-signing technology.

Settleware’s e-signing technology is the first and only end-to-end real estate solution that enables any party involved in a transaction to use electronic and digital signatures to sign documents seamlessly and securely at any time online. It is also the only commercial solution certified by the real estate and mortgage industry, including lenders, secretaries of state, county recorders, MERS eRegistry and Fannie Mae.

Settleware’s technology continues the advancement of paperless technology and transactions throughout various market segments including the real estate and mortgage industries.

With Settleware’s e-signing technology, users do not have to chase down signatures or worry about missing pages. Documents protected by Settleware are 100 percent compliant and tamper sealed to guarantee integrity and confidentiality.

Service providers such as mortgage lenders, real estate agents, escrow settlement agents, and notaries save time and money with the help of Settleware’s e-signing process. They will not misfile, need to re-key or have to track down missing signatures, initials or pages.

“After working in the real estate industry for three decades, I saw that there was a need to streamline real estate and mortgage transactions,” said Rick Triola, founder and CEO of Settleware. “I knew there had to be a better way to conduct business, and Settleware is proud to provide that solution.  This announcement is proof of the novelty of Settlware’s e-signing technology. It is a game-changer because it solves the problem of paper and eliminates the associated stress inherent with typically the largest purchase most consumers would ever make in their lifetime. ‘Pen on paper’ will soon be a thing of the past.”

About Settleware Secure Services, Inc.

Settleware has been known as the pioneer and expert e-signing business for the real estate and mortgage industries for more than a decade. Its multi-patented technology enables paperless transactions between numerous parties and protects all documents involved in the electronic process, ensuring security and confidentiality. For more information, call 888-632-3833 or visit www.settleware.com.

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Settleware Expands Electronic Notary Platform

June 20th, 2012 No comments

 Settleware Expands Electronic Notary Platform

 

Pioneering electronic signature and e-Notary leader partners with Christopher Bryan Company to streamline cumbersome paper-based process. NC Contractor can now electronically sign and notarize contracts and agreements in Real Time.

NEWPORT BEACH, CA—June 19, 2012— Settleware Secure Services, Inc., the visionary electronic and digital signature leader announced today that Christopher Bryan Company (CBC) processed their first electronic Notary in Charlotte, N.C. through the use of Settleware’s trusted electronic notary solution.  “Our focus is to make it easier for our customers to do business with their clients and are thrilled to partner with Christopher Bryan. We have been delivering a digital and paperless alternative to traditional notarization offerings since 2004 and we’re excited that CBC is now offering  this ‘game changing’ service”, stated Settleware founder, C. Richard Triola.“ the Contractors Lien Waver was electronically notarized without any hitches”  Triola continued.

The contractor notarized, e-Signed and processed the Lien Waiver in real-time-without a single piece of paper. “We are excited about participating in cutting-edge technology that is destined to change the ‘normal operational procedures’ for businesses of all sizes.  The benefits we can now offer to all of clients are tremendous. Our productivity has dramatically improved and we look forward to a long and prosperous partnership with Settleware”, stated President Christopher Bryan

“As electronic signatures and notarizations go mainstream more and more business will move e-Commerce to the next level – secure and streamlined efficiencies realized by all stakeholders. We have been certified by the NC Secretary of State since 2007 and pleased to see e-Notary adoption begin to percolate,” says Kyle Stephenson, Settleware’s VP Southeast Regional representative. “We’re happy that Christopher Bryan Company has shared our vision and now providing the ‘Holy Grail’ of e-Commerce – e-Signing and e-Notarization“,  Stephenson added.

Featured in the best seller ‘Game Changers- Leading Entrepreneurs and How they are Changing the Game..’, (Amazon rated #1,  November 2010),  founder Triola continued to describe how e-Signatures and e-Notarizations affixed to any/all contracts and agreements are quickly becoming the standard, eliminating all the associated ‘friction’ with paper, faxing, scanning and expensive overnight deliveries of time sensitive agreements and applications. Companies of all sizes are urged to explore not only the immediate benefits for all clients and stakeholders but to also become good stewards and drivers of Corporate Social Responsibility.

About Settleware

Settleware Secure Services, Inc. has been spearheading the initiative to facilitate complete electronic and paperless transactions over the Internet for more than a decade. The Settleware patented platform provides benefits to the lone entrepreneur or to large enterprises and offers e-Notarization in the Cloud with an affordable subscription-based pricing.

If you would like to learn how Settleware can partner to take your business to the next level, 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/blog and become a Friend on Facebook.

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

November 13th, 2011 4 comments
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E-Signatures for Real Estate and Mortgage Industry – Ask the Questions?

October 1st, 2011 1 comment

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.

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MBA Sends Letter To HUD To Accept e-Signatures

June 2nd, 2011 No comments
One Step Closer to a Complete e-Mortgage?We’re excited that with yesterday’s MBA’s announcemt that we have come a bit closer to a complete electronic and paperless real estate/ mortgage transaction. The MBA has sent a letter to HUD to permit e-Signatures on FHA Loan Origination Docs. This month we will be celebrating the 11th Anniversary of the e-Sign Act passed by President Clinton (June 2000) and look forward to having HUD join other Industry participants that currently have adopted and accept e-Signature technology, including real estate agents, title, escrow, closing agents, County Recorders and Secretaries of State. Read below article:
MBA News Link’s Sorohan, Mike ( June 2, 2011)
The Mortgage Bankers Association sent a letter yesterday to HUD, asking the agency to permit use of electronic signatures for all mortgage origination forms required by FHA.The letter said eSignatures, acceptable under federal law and by FHA on certain documents, will help reduce processing issues that impair the homebuying process. MBA asked that FHA implement a revised policy accepting the use of eSignatures on all of its loan documents.

“eSignatures will reduce the volume of lost paperwork, reduce signature fraud, reduce the time required to close a loan and may lead to lower borrower costs,” the letter said.

MBA has long advocated modernization of FHA as part of its policy agenda. The letter noted the past 15 years has seen a trend toward automation of the loan application and underwriting process. Most lenders now have automated processes that allow applicants to apply online and to supply information to the lender electronically. Additionally, much of the processing is performed by lenders using online processing and underwriting tools. Ordering appraisals, credit reports and verification of deposit balances is frequently performed by automated, online processes.

“This automation makes it easier for the consumer to provide needed data to the lender, reduces the application to closing timetable, minimizes the potential for lost documents and generally reduces the costs incurred by all parties,” the letter said. “Lenders have experienced increased productivity and a reduction in costs after implementing internal automated processes.”

MBA said eSignatures would reduce costs for activities such as printing and mail couriers for both borrowers and lenders. “These benefits eliminate many of the annoyances of a paper-based process, including lost or inconsistent documents,” the letter said. “In addition, consumers would have greater flexibility and convenience within the home buying process because they would not have to change documents and related signing processes if they changed from a conventional loan to an FHA loan. All of [these] benefits ultimately result in lower costs for the consumer, as lenders pass on savings to remain competitive. Additionally, borrowers experience a more seamless and satisfying homebuying process.”

MBA said FHA’s acceptance of eSignatures would align the agency with other government entities, including Fannie Mae and Freddie Mac, which have been accepting electronic signatures on loan documents for several years.

“Conforming to accepted industry standards on all documents would expedite the mortgage process, reduce lender costs because processes could be replicated and fulfill consumers’ growing preference for conducting electronic transactions,” the letter said. “Notably, the Real Estate Settlement Procedures Act and the Truth in Lending Act rules recognize the use of electronic records to meet disclosure requirements.”

The letter also noted most mortgage lenders that have automated the loan application process make use of electronic signatures for other forms and consumer/lender interaction, citing control mechanisms used conform to the Electronic Signatures in Global and National Commerce Act passed by Congress and signed into law in October 2000.

“Accordingly, controls utilized to protect consumer and confidential data include encryption, tamper evident seals of e-signed documents, two-factor identity verification and other controls required under the ESIGN Act and industry custom,” the letter said. “MBA’s members are currently using such controls, and would continue their use in any FHA eSignature process.”

To address concerns raised by FHA about mortgage fraud, MBA said it believed processes built in the “e” world could mitigate many issues currently in today’s paper process.

“Many electronic mortgage systems incorporate additional borrower authentication capabilities that well exceed the standard of the traditional notary asking to see a driver’s license for validation,” the letter said. “For example, some systems prompt the borrower to respond to authentication challenge questions to establish true identity. In addition, tape recording, on line session recording, and audit trails further safeguard the e-signature process in the event of litigation. These safeguards are not only beneficial to the lender and FHA, but also provide convenience and protection to the homebuyer. Many commercial businesses have long adopted these security standards so consumer awareness and education would be minimal.”
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