Settleware ‘No Brainer’ blog

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.

WASHINGTON (AP) – Postmaster General Patrick Donahoe warned that the Postal Service is on “the brink of default” as he battles to keep his agency solvent. Without legislation by Sept. 30, the agency “will default on a mandated $5.5 billion payment to the Treasury”, Donahoe told the Senate Homeland Security and Governmental Affairs Committee on Tuesday. Taking a tip from the current administration, “Rule one: Never allow a crisis to go to waste…”

We introduced our ZapSign division this summer to alleviate some of the overwhelming burden shouldered by the USPS. Today, we offer the first Global, eco-friendly and purely automated contract delivery service - first class, registered receipt, round trip, and legally binding e-Signature service in less than 5 minutes (members pay only 99 cents). Send sales agreements, contracts, NDA’s, Applications, HR docs, etc. from anywhere to anywhere, no extra charge.  Signing at the airport, on the golf course or while traveling abroad - on your smart phone or tablet – price included..

The Postal Service has lost $7.9 billion in the past two years. It has borrowed money to pay its bills. Mail volume fell 4.5% last year and the Postal Service expects a bigger drop this year.

Most Americans understand that this is not your Daddy’s Postal Service and we’ve known for generations this has got to change. A new USA TODAY/Gallup Poll suggests that most support cutting back mail services — closing post offices, trimming delivery service — rather than raising stamp prices or using taxpayers’ money for a bailout.

Now is the time for all good men (and women) to come to the aid of their country… Don’t Mail it -  Zapsign it!

Visionary electronic and digital signature leader offers first patent pending and automated ‘Pay As You Go’ virtual signing station, ZapSign. Now anyone can electronically sign contracts and agreements in minutes, from anywhere to anywhere, without any contractual commitments like similar services require.

Sign up for FREE Membership Today www.zapsign.com

Read More:

http://www.prweb.com/releases/2011/6/prweb

Out of town at a conference today and had the chance to scour the USA Today-seems like I only get to do this when I trip over it while traveling..Anyway, I was amazed at what I found in the headlines and quotes as I traversed the business section:

• Amazon Sells More eBooks than Print
• Linked In Shares Soar On First Day of Trading
• Investors are Willing to Take Chances on Up and Coming Companies
• Businesses Struggle as Shipping Costs Rise
• Some Change Driving Habits as Pain Hits Those Who Can Least Afford it
• Gas Prices Pushes Some Consumers to the Edge
• “It’s painful, it erodes my profits and I’m concerned about the potential for growth”
• “If I can ship the same product, reduce shipping costs, reduce shipping costs and the carbon footprint thing by not using so much fuel that would be huge”
• “Over the next four years we could see $185-$200 a barrel of oil, which translates to a gallon price of $6.00″

Could this provide the catalyst and create the tipping point for e-Signature adoption?  It’s made sense to us for more than a decade!

“Making A Difference – One e-Signature at a Time!”

Recently, I was asked “WHY do you do what you do?” my first reaction – WOW-what a great question! (needed to stall so I come up with some ‘genius’) Actually, I didn’t have to dig to deep-we live our passion every day.

Back in the late 90′s and after 25 years of selling real estate, I made a leap to the escrow/settlement side of the business. We needed to come up with a competitive ‘differentiator’ -At the same time the Internet was coming into its’ own and I thought” Wouldn’t it be great if we remove the stress and friction associated with largest transaction most consumers would ever be involved in. By giving back the agent a ‘lifestyle’ change and not having to chase signatures and documents all over town (and sometimes the World when clients were traveling) this would surely be a ‘Game Changer’ (name of the book I co-authored to be released in October, 2010). With over 25 years of domain experience we understood that we would nned to start with ‘the end in mind’ and by getting ‘Buy-in’ along the way. We also knew this would be a tremendous challenge as there are so many entities/parties that are involved in the transaction; Buyers/Sellers/Borrowers, Agents, Lenders, Title, County Recorders, Notaries, Secondary Investors and Escrow/Settlement/Closing agents.

When we initially approached lenders extolling e-signature benefits they knew it was a ‘No Brainer’ but the response was ‘if you get Title to issue Insurance against the process and Fannie Mae to buy the electronic Promissory Notes – I’m in! When we spoke to Title they said “great idea-if you get the County Recorder to accept these e-Signed docs – we’re in! You guessed it – County Recorder’s said ‘if you get approval from the Attorney General” and Notaries said “if you received the nod from the Secretary of State” – no problem. So, for nearly 8 years we have spent each and every day checking these players off the list. Thankfully, along the way, President Clinton signed the e-Sign Act which gave us a little more validation.

In 2004, we became the first company to go live with e-Signing, e-Notary, e-Recording and in 2007 we added ‘Certified by MERS e-Registry and selling e-Notes to Fannie Mae’. Still today we are the ONLY e-sign Solution provider that has taken the time and spent the resources to deliver this Compliant End-to-End Solution. (One of our e-Sign competitors continues to boast that they have spent over $3o million of Venture Capital – just to deliver an email signature!) The process is so unique that we received a patent in the US and Australia! (Patents pending is the US, Canada, Mexico, Hong Kong and the EU)

We plodded through, worked with Industry leaders and pioneers, and we never looked back-WHY? Because our mission from day one was to Streamline the entire real estate/mortgage transaction and have become the first and only platform that can boast a TRUE end-to-end transaction over the internet-no Faxing, No Scanning and No Paper!

Next question, “This has taken nearly 10 years to gain Buy-In and to develop – besides your clear Vision to Disrupt the way future RE transactions would be processed  - where did you get the perseverance to sustain yourself, especially in a industry without any Early Adopters? Another great question…”We believed that if given a chance to legally sign/execute documents/contracts over the Internet why would any REALTOR® want to drive all over town chasing signatures and documents to open  and/or close a transaction. It just made to much sense that Agents would not want to be tethered to a fax machine, scanner or worst yet to an expensive overnight carrier” (OOPS – sorry we closed at 5pm)

So here we are today, introducing e-Signing to the folks that ‘Start’ the entire process-REALTORS®. It didn’t make much sense to get Agents on Board until we received total Acceptance from all the parties afore-mentioned. Since we have now trained thousands of Agents we are being asked “what Escrow/Settlement companies are processing escrow related docs electronically?” These’ early adopter’ agents are now anxious to complete the entire process electronically since they  have introduced e-Signing to their Consumers and now to have to Open escrow with a company that is still so 90’s – nothing more frustrating to have to now go back to original paper and Wet-signing!

We have now come full circle, Escrow companies have now been licensing our patent and technology and it won’t be long before we see the ‘tipping’ point where every real estate transaction will be processed over the Internet- in minutes vs. days!

We are currently embracing REALTORS® to join our Cause and truly ‘Make a Difference-One e-Signature at a Time!’- that‘s WHY we do what we do every day and enjoy every minute of it!