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VASCO Introduces eSignLive Cloud-Based Mortgage Solution to Enable Completely Digital Mortgages
Posted: Mon Mar 27, 2017 07:33:21 AM
 

VASCO

eSignLive Digital Mortgage Solution provides comprehensive digital management of electronic signatures, document delivery, closing, and vaulting

OAKBROOK TERRACE, IL March 27, 2017 VASCO Data Security International, Inc. (NASDAQ: VDSI), a global leader in digital solutions including identity, security and business productivity, today announced the availability of eSignLive Digital Mortgage Solution, a comprehensive eMortgage solution available in the cloud. The components of the solution include e-signatures, e-Delivery, e-Closing and e-Vaulting and can be used as a comprehensive suite or as standalone applications to help ensure regulatory compliance and improve the customer experience with a completely digital mortgage process.

The Consumer Financial Protection Bureaus recent implementation of the TILA-RESPA Integrated Disclosure (TRID) rule, along with tightening regulatory controls, has resulted in widespread demand for technology that helps ensure compliance across the mortgage industry. Consumers, banks, lenders and others in the industry are increasingly embracing components of digital mortgage technology as a way to bring transparency, accountability, security and an improved consumer experience to the mortgage process.

Homebuyers have demanded digital mortgages for years, however, many industry stakeholders were not ready to replace paper, said VASCO Vice President of Product Strategy for eSignLive, Michael Laurie. Today, investors, lenders, counties, title companies and others are not only ready, but rapidly adopting the digital mortgage for its speed, efficiency and ease-of-use.

The eSignLive Digital Mortgage solution enables the eMortgage process at each stage with advanced features:

  • E-Signatures and e-Delivery ensure quick delivery and acceptance of the mortgage application disclosure package. A patented visual audit trail captures the applicants intent during the loan application and provides borrowers with a pre-closing review of the package to meet TRID closing disclosure timing requirements.
  • E-Closing advanced security and workflows enable the review, signing and notarization of documents in the closing package in PDF while supporting SMART Doc format for the mortgage note, as well as secure transfer of the authoritative copy of the note to an e-Vault.
  • E-Vaulting stores, assigns and services electronic mortgage notes in compliance with the United States Electronic Signatures in Global and National Commerce (ESIGN) Act and the Uniform Electronic Transactions Act (UETA). It maintains legal control over the authoritative copy, while also providing automatic registration, transfers and all other operations through the MERS eNote Registry required by investors like Fannie Mae, as well as lenders, custodians and servicers.

To learn more about the eSignLive Digital Mortgage Solution, visit www.esignlive.com/products/digital-mortgage-and-digital-lending/digital-mortgage-solution.

 
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