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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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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.

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WILKES COUNTY ASSOCIATION OF REALTORS® ‘INKS’ DEAL WITH SETTLEWARE®

August 9th, 2011 No comments

FOR IMMEDIATE RELEASE ____________________________________________________________________________________

WILKES COUNTY ASSOCIATION OF REALTORS® ‘INKS’ DEAL WITH SETTLEWARE®

Innovative ‘Pay As You Go’ e-Signing Benefits All Real Estate Association Members

North Wilkesboro, NC  - August 8, 2011  – Settleware Secure Services, Inc., the pioneering e-Sign leader to the Real Estate Industry, is pleased to announce that Wilkes County Association of REALTORS® (WCAR) has licensed both its innovative e-Signature technology and US patent for the benefit of all WCAR members.

“We are pleased to partner with Wilkes County Association of REALTORS® and its’ visionary leadership to provide relevant e-Signing technology to all Association members, enabling each member to take their business to the next level” says 30 year real estate veteran and Settleware President & CEO, C. Richard Triola

“The Wilkes County Association of REALTORS® is proud to add Settleware e-Signing as a membership benefit to our REALTOR® members.  e-Signing is a safe, quick method of signing documents that will assist our agents and clients with their transactions.  Providing Settleware e-Signing as part of our Wilkes County Association of REALTORS®  membership,  not only enhances the professionalism of our members, but also provides their clients with a secure, fast method of signing documents ” stated Viva Aldrich, Executive Officer, Wilkes County Association of REALTORS®.

Over the past decade Settleware has been leading the charge to deliver the first and only real estate electronic and paperless transaction – from opening to closing – completely over the Internet. “We realize there were several choices available and appreciate the Wilkes County Board’s extensive due diligence and selection of our unparalleled e-Signing service, expertise and offering,” Triola continued.

“We fully understand these trying times and the challenges that our real estate colleagues face on a daily basis. With this offering, no Agent will be left behind and all will have the immediate benefit of processing legally binding, compliant documents in real time – more efficiently meeting critical time frames and eliminating the heavy paper use they currently experience with each and every transaction.  It’s hard enough these days to close a transaction without having to chase documents and signatures not only across the county, but also to clients who live out of town, out of state, or may be away on vacation or business.  With technology such as Settleware e-Sign, the business of buying and selling real estate continues as easily as it would if all parties were sitting together in the same room” continued Aldrich.

 ABOUT SETTLEWARE

Created by REALTORS® Settleware Secure Services, Inc. has been spearheading the initiative to facilitate a complete electronic and paperless real estate transaction over the Internet since 1999.  Today, Settleware is the leading provider of e-Signatures, e-Notarization and e-Recording workflow to the Real Estate/Mortgage Industry and offers the Nations first and only patented and complete electronic real estate/ mortgage transaction, from the initial purchase offer contract – to Escrow/Settlement – to the County Recorder – to the Secondary Investor.  Settleware has served as the catalyst for a pure end–to-end pure electronic and paperless real estate/escrow transaction, spending years collaborating with Industry pioneers and experts to gain Industry wide ‘buy-in’. Settleware is the first and only e-Sign solution provider that has been certified by County Recorders (e-Recording), Secretaries of State (e-Notary), Fannie Mae (e-Notes) and MERS e-Registry (e-Vault), Wells Fargo (e-Disclosures) and One West Bank. (e-REO)

The company offers a secure signing solution that provides document tamper sealing, roles and permissions access and secure digital encryption algorithms that can authenticate the source of a digital signature as “valid” while providing one of the Industry’s first certified e-Vaults. The company’s innovative and patented software, offered as a service subscription-based model (SaaS), seamlessly connects all participants and contracts in the real estate/escrow/mortgage transaction. Settleware is offered through MLS, REALTOR® Associations and Broker-owned companies to benefit over 1 million members nationwide. To learn more how Settleware can take your business to the next level call 888.632.3833, email info@settleware.com or visit www.settleware.com.  Join the discussion by subscribing to the Settleware’s blog at www.settleware.com/blog and become a Friend on Facebook.

 ABOUT WILKES COUNTY ASSOCIATION OF REALTORS®

The Wilkes County Association of REALTORS® strives to be the premier trade association dedicated to the professional development of its membership.

The purpose of the Wilkes County Association of REALTORS® is to encourage professionalism through information and resources to better develop, support, protect and guide both members and clients.  This is the result of innovative programs, locally focused services and advocacy for ethical business practices and individual property rights for all Wilkes County citizens. WCAR is constantly striving to set the bar on high quality care and attention to detail in each and every real estate transaction.  If you decide to be a Buyer or Seller here in Wilkes County, WCAR members take very seriously their role in assisting you with your real estate property needs.  For more information, please visit www.wilkescountync.com.

Contact:

C. Richard Triola                                                                                 Viva Aldrich

Rick@settleware.com                                                                         wcar@wilkescountync.com

2901. W. Coast Highway, Suite 200                                                     717 Main Street

Newport Beach, CA 92663                                                                   North Wilkesboro, NC 28659

949.289.3299                                                                                      336.667.9331

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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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Electronic Signatures for Trustees and Custodians

February 8th, 2011 No comments

Recently, a real estate agent client of ours was in a quandry. She needed to get an electronic signature on a contract but the signer was a trustee-signing on behalf of a trust. The signature space on the contract (Purchase Agreement) was limited and ‘Jane Doe Trustee, for the John Doe Trust’ would not fit very well. Solution – she simply added the complete name of the Trust to our “Additional Custom Field’ option and the Signature Stamp defaulted to the last page of the agreement – with the  complete signature in tact . Just one of the many features that will streamline and eliminate the friction associated with any typical paper based process. Go paperless and digital now!

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