home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Mortgage Technology news
Technology news for originators, executives and servicers. Coverage of LOS systems, loan product and p r i c i n g engines and other technology offered to the mortgage industry.


Digital Signatures

DocuSign touts adoption rate

February 28, 2006

By PAULA PARISOT


photo of Paula Parisot
Paula Parisot

Electronic signatures are becoming more widely adopted according to a Seattle, Wash.-based company that provides digital signature services.

DocuSign, an on-demand electronic signature service, said in a recent announcement that more lenders are opting to use their service to "quickly, easily and safely obtain electronic signatures on documents leading to better customer service, faster loan completion and lower costs."

Rather than faxing, hand delivering or mailing documents to customers for their signature, DocuSign said users deliver the document over the Internet via an e-mail address.

Setting up a permanent signature with DocuSign is free, the company says, and takes less than five minutes to complete.

Superior Mortgage branch manager Heather Bolgen said she has been using DocuSign for a year and has found that borrowers and loan officers alike appreciate the convenience of corresponding electronically and capturing signatures making for quicker completion of the mortgage process.

"I use it to send out all my applications, disclosures, and credit explanation letters," Bolgen told MortgageDaily.com. "It saves time; the application is in my hands within five minutes -- and time is money in the mortgage business."

Regarding security, DocuSign CEO Court Lorenzini said its electronic signature process provides the tools to triple-check for accurate identification; through e-mail address and password; through voice communication with an access code; and ID Check, a service they license through Fair Isaac.

"DocuSign has been deemed superior to a pen and paper transaction in a courtroom setting," Lorenzini told MortgageDaily.com.

Real estate purchase transactions will take less time, he said, because all parties can preview the paperwork and sign the documents before the closing, and it allows for the instantaneous ability to redraw documents. However, Lorenzini said County recorders do not have the tools to accept electronic signatures, so notarization of documents still necessitates face-to-face interaction.

DocuSign can store documents electronically, Lorenzini said, adding that if a document is ever challenged, it can be found. This would also reduce errors and missed disclosures, he said.

Ellie Mae Chief Technology Officer Limin Hu said in an e-mailed statement that the use of electronic signatures is increasing but "it's still in its infantry."

"DocuSign's server-based electronic signature technology is a great way for mortgage origination software to incorporate electronic signature technology," Hu wrote.

Hu added, "Ellie Mae has a plan to incorporate electronic signatures in our offering, but not yet today."

The cost associated with the service is calculated on envelope and page "capacity," DocuSign's Web site says, with a minimum amount capacity purchase of $120.


Paula Parisot is a MortgageDaily.com feature reporter and a blogger at CloserBlog.com who has also worked in the mortgage industry.

e-mail Paula at: [email protected]



SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders