Posts Tagged ‘FHA’

Long Awaited – FHA Approves e-Signatures

January 30th, 2014 No comments

It was announced today that the FHA will now accept e-Signatures. Industry pundits have said that the entire electronic real estate and mortgage transaction has been stalled to almost to a complete halt without this FHA buy-in. (E-Sign Act, June 2000)

Settleware has been advocating such advances and pioneering the effort since the late 90′s (and we have the arrows in the back to prove it)..this announcement will be well received by all Industry stakeholders, especially the consumer who has been needlessly inconvenienced, and will now open the path to e-Mortgage adoption.




Settleware Partners with NCS for e-Signature of the 4506-T

September 24th, 2013 No comments




Settleware Partners with NCS for e-Signature of the 4506-T

NCS’ TRV® Services Fulfill Settleware Secure Services’ Mission to Provide

Full Electronic Execution of Mortgage Docs from Origination to Close

EGG HARBOR CITY, NJ | September 24, 2013 – NCS
(National Credit-reporting System, Inc.), a full-service consumer reporting agency specializing in income, identity, and credit intelligence, and Settleware Secure Services, Inc., a pioneer in the implementation of electronic signature technology, have announced a partnership to provide NCS’ best-in- class income verification services to Settleware’s clients and partners.

Settleware customers may now upload 4506-T forms direct to NCS for verification with the IRS through a dedicated TRV Services tab within the Settleware platform.

“We are excited about Settleware’s decision to provide TRV Services to their clients,” said Curtis R. Knuth, executive vice president of NCS. “Settleware is now uniquely positioned to offer a complete loan solution through its wide range of mortgage, real estate, and escrow settlement professionals.

According to Settleware President & CEO C. Richard Triola, “NCS is now a vital part of our network of industry experts and pioneers dedicated to creating a completely digital, paperless transaction. The 4506-T is one document that had held the industry back, but with the acceptance of electronically signed 4506-Ts by the IRS, and soon by the FHA, Settleware and NCS now offer lenders, REALTORS, and their customers a loan process performed entirely online – from origination to closing.”

NCS has been providing IRS Income verification products to the mortgage industry for 20 years. In 1994, the New Jersey-based company was the first IRS IVES (Income Verification Express Service) vendor to offer TRV Services nationwide.

For more than a decade, Newport Beach, CA-based Settleware has been a leader in bringing electronic signing capabilities to the mortgage and real estate industries, focusing on the need to complete the entire real estate and mortgage transaction over the Internet – at anytime from anywhere. 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 look forward to having NCS as our exclusive partner for 4506-T tax return verification,” said Triola. “Their history of product development, as well as customer service, is

something that drew us to the company.”

NCS’ TRV Services are unique in the marketplace, providing concise ability-to-repay insight with customizable reports based on data obtained through the IRS form 4506-T. NCS has an industry-leading IRS acceptance rate of 96% for the 4506-T forms it submits to the governmental agency on behalf its clients.

Two other products NCS offers in addition to the TRV Services are SSA CONFIRM, which validates Social Security numbers through the Social Security Administration, and the Record of Account, which combines the tax return transcript and the updated account transcript into a single report.

About NCS

National Credit-reporting System, Inc. (NCS), founded in 1978, is a full-service, consumer- reporting agency specializing in income, identity, and credit intelligence. NCS provides cutting-edge, superior quality, data-driven solutions that enable its clients to meet compliance requirements and minimize risk. In 1994, NCS became the nation’s first company to 4506-T solutions nationwide. Visit or call 800-582-7066.

About Settleware Secure Services, Inc.

Settleware® has been a pioneering leader in the area of e-Signatures and e-notarizations 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 reduce time frames and eliminate 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, visit, call 888.632.3833, or email


Cristofer Gross

NCS Media Relations (909) 337-0570

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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…


Compliant Electronic Real Estate Transactions – It’s All About Collaboration

December 3rd, 2011 No comments

If you bought or sold a home within the past year you certainly understand the challenges around the implementation, processing and closing this high-valued transaction. You also might have concluded that in this day and age ‘there must be a better way’? You may not have realized that there was and is  a ‘better way’ - which would have eliminated most, if not all, the stress and friction you just experienced with this paper-intensive process.

Less than 5% of the today’s real estate agents (most responsible for getting the deal started) have taken their business to the next level and have incorporated electronic signatures into their workflow, contracts and agreements. An E-signature is the ‘glue’ that connects all parties and documents over the Internet-100% paperless with secure real-time execution. There is no longer the need to drive all around town to chase down signatures or to find a fax machine (95% of consumers have Internet access and only 5% have fax machines at home) or to pay for expensive overnight deliveries. As a long time real estate veteran I can recall those calls late on a Wed aftrenoon that all parties must meet at 10:30am Friday in some office typically 20 miles away from no where in order to close the deal (on the East Coast still deploys face-to-face sit down closings-which in reality become a long winded 11th hour art of negotiation session). Buyers, Sellers, their agents and all the ‘suits’ –personal attorneys plus the banks attorneys and title attorneys had to re-arrange all their schedules – crazy. Talk about stress – last minute day off at work for principals, running around finding  last minute baby sitters, running to banks to get cashier’s checks, etc..

Imagine if all you had to do was open your email, type in your name on contracts, click consent and submit? I think we would all agree that this would definitely be the ‘better way’. Although the E-Sign Act was signed into law by President Clinton back in June, 2000 it has taken many years of collaboration and ‘buy-in’ for all the Industry participants to get on board with a complete electronic and paperless transaction: Agents, Title, Escrow/Settlement/Closing agents, County Recorders/Registrars, Lenders, Attorney Generals, District Attorneys, Secondary Investors, MERS e-Registry, Desktop Title Lien Search and Secretaries of State. The sense of those of us that were  trying to solve ‘the pain’ in this high-liability transaction is that we needed to sit down with all these folks and get them to agree to accept these legally binding documents. As you can imagine, this was not an easy chore and has taken twice as much time than we expected.

As the Industry continues to ramp adoption it is important to understand most vendors were started by ‘technologists’ in search of an opportunity while others, solving the pain, compliance issues, garnering Industry wide certification, brought to the table extensive domain expertise, know-how and collaboration skills to have all parties to raise their hand  - “I’m In”. Welcome to the future – the all digital real estate transaction.


Nation’s First ‘Robo-Signing’ Indictments

November 27th, 2011 2 comments

For a couple of Orange County (CA) residents Thanksgiving weekend just wasn’t what they were accustomed to. A Nevada grand jury indicted the couple in what appears to be the first criminal case filed connected to the nationwide ‘robo signing’ scandal. According to Jeff Collins, reporter with  the OC Register, ‘both are title officers who worked for the Jacksonville, FL mortgage servicing firm Lender Processing Service.”

The time is ripe for the  Lenders ‘C-Level’  Suite to step up, put a stake in the ground that these issues should never be tolerated – and move forward with an all-electronic and digital transaction – eliminating the associated fraud associated with human error, back-dating, white-out, cut and paste signatures, substitution of  false documents, etc. Secure ‘tamper-resistant’ document processing technology has been available for years – tested, live and certified (by all Industry participants/leadership-sans Lenders) - gurading against such ‘all-so-common’ instances of fraud and outrageous manipulation. The article further mentioned a Huffington Post quote from University of Minnesota law Professor Prentice Cox, a former Assistant State Attorney General, adding: ” When criminal prosecutions are done for robo-signing, I would hope the target of those prosecutions would be the people who designed the system and profited from it, not just the low level people doing what they were told.” Read More