SigniaDocs Chooses Wave Systems to Add Trusted Electronic Signature and eVault Solutions to its eServices Mortgage Platform
Monday March 17, 8:27 am ET
Wave's eSign Transaction Management Suite Now Integrated into SigNet eDoc Management Solutions; Demonstrations at the MBA National Technology Conference
http://biz.yahoo.com/bw/080317/20080317005816.html?.v=1
LEE, Mass. & DALLAS--(BUSINESS WIRE)--Wave Systems Corp. (NASDAQ: WAVX - News), announced today that it has licensed its eSign Transaction Management Suite (eTMS) to SigniaDoc for integration into SigniaDoc’s SigNet eDoc Management Solutions. Wave’s trusted electronic signature and vault solutions can now be used to automate SigNet eDoc Management Solutions by eliminating the need for ink signatures, as well as the expense of paper document processing and transportation of mail, overnight delivery, faxes and other types of delivery services utilized today. In addition, Wave’s solutions can eliminate the need to re-key data throughout the mortgage process, resulting in increased efficiency, data integrity and accuracy throughout the mortgage transaction.
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The agreement allows SigniaDoc to incorporate Wave's eTMS into its eServices Solutions to manage digital and electronic signature processes, such as creating, signing, storing, accessing and managing the lifecycle of legally binding electronic documents. Wave's eTMS is an integrated suite of applications designed to provide functionality that can help meet many legal requirements for transactions (signing and record retention) governed by ESIGN, UETA, Revised Article 9 of the UCC, SPeRS and GPEA.
The combined Wave and SigniDocs solution is offered as a suite of eMortgage services, from eDisclosures, eProcess, and eClosing to investor eDelivery, offering better tracking and control of the entire mortgage process from origination to closing. To address the demand for faster and more efficient ways to serve borrowers requiring loan modifications, Wave's eTMS will provide SigniaDocs clients and their consumers with new levels of convenience, compliance and security capabilities throughout the loan process. Additionally, eTMS supports Wave's EMBASSY® Trust Suite, which delivers advanced levels of security to client PCs using the TPM security chip found on many enterprise PCs today and can further enhance authentication and assurance.
“We have designed the system to offer a hosted suite of eMortgage services so they can be quickly and inexpensively implemented to meet current market needs,” said Tim Anderson, SigniaDocs president. “For example, we created a quick eModification service to address the current issues servicers are having with retaining their existing clients in this market downturn. In response to the current mortgage crisis, we believe the business is entrenching, getting more centralized and commoditized and going back to more conforming based lending. Under these circumstances, we see very few ways to develop a competitive advantage and differentiate yourself in the marketplace unless you can streamline your process to increase efficiency and deliver a better customer experience and service. Our platform is designed to do this.”
“Many consumer advocacy groups and the investment/servicing community are increasingly demanding solutions that improve the loan modification and refinance process. Many investors are also concerned with the lack of concise, easy-to-execute modification programs to help stave off losses and erosion of their portfolios,” said Kelly Purcell, executive vice president of Wave’s eSign Systems division. “SigniaDocs and Wave have responded to this very critical marketplace need by delivering an easy-to-use solution that is designed to provide trust and security for the borrower while also enabling providers to reduce traditional paper and transportation expenses.”
Demonstrations of latest eSign Transaction Management Suite Release at MBA National Technology Conference
Wave and SigniaDocs are providing live demonstrations of their integrated solutions in Wave’s suite at the MBA National Technology Conference on March 17 and 18 at Gaylord Texan Resort in Dallas. Wave will also be demonstrating enhanced versions of its SmartSigning Room and SmartSAFE solutions at the show.
With SmartSigning Room, documents in the SmartSAFE™ virtual document repository (eVault) can be reviewed simultaneously by all signers and invited attendees. The SmartSigning Room also auto-creates an invitation e-mail that provides borrowers with secure access to review, annotate, electronically sign, print or download documents. Extremely user friendly for the borrower and originator, the SmartSigning Room is also designed to provide both the investor and loan servicer the confidence that the loans have been properly disclosed, modified and signed.
Wave has enhanced SmartSigning Room to enable increased configuration of signing options. Lenders can set signing parameters, ranging from signing all signature lines at once to requiring signer consent at each and every signature or initial point. Furthermore, the signing can be controlled so that signers must sign in a specific order as well as requiring certain signers to belong to specific roles, such as a notary or witness. Additionally, the suite now supports PDF form field signing to streamline the implementation for lenders and document companies that have not yet determined the coordinates of all their document signature points.
“In today’s mortgage environment, many lenders, investors and servicers are looking for assurance, trust and ease of use in the solutions they select to improve borrower satisfaction,” added Ms. Purcell. “We are confident that we have integrated solutions at every touch point to support the building of turnkey, easy-to-use electronic solutions for the mortgage industry.”
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