eNotary Expansion to Evolve eMortgage Market, Seeking Approval as Official Fannie Mae Technology Service Provider
BOSTON; October 25, 2016 – At the annual Mortgage Bankers Association (MBA) conference and expo here today, DocuSign – the global eSignature and Digital Transaction Management (DTM) leader – announced a series of expanded features that will allow lenders and title companies to complete a mortgage 100% digitally.
Known as eMortgage, the new service will empower lenders and their clients to electronically-sign the mortgage paperwork associated with the more than 12 million real estate documents and 2.5 million real estate transactions already DocuSigned every year.
The news marks an expansion of DocuSign’s ‘lead to close’ strategy for the real estate industry, first announced by the company’s Chairman and CEO Keith Krach in July this year. The strategy entailed DocuSign making its biggest investment in the real estate industry to date.
“DocuSign’s vision is to make the home buying process fully digital, from lead to close. DocuSign has transformed several aspects of home buying, but enabling a seamless, digital mortgage remained a paper-burdened experience for home buyers and sellers. Today’s expanded investments in eNotary demonstrate our commitment to making a completely paperless eMortgage reality,” explained Georg Gerstenfeld, general manager: Global Real Estate Solutions, DocuSign.
“This is against the backdrop of the real estate industry's widespread adoption of DocuSign, and is helping to add more than 130,000 new users to the DocuSign Global Trust Network every day. eMortgage is a natural next step to simplifying the end-to-end experience.”
Today’s announcement centers around two key areas:
• eNotary – this enhancement ensures that in-person eNotarizations can now be performed via DocuSign in Florida and Washington (in addition to North Carolina, which has been available since 2014). It is also expected that more than ten other states could be added before the end of the year. With eNotary, there is no need to print, scan or mail closing documents – all actions can be performed within the DocuSign platform, including applying a seal and exporting a notary log.
• Fannie Mae – reflecting the potential for the DocuSign platform to help speed the adoption of the broader eMortgage process, the company (with eOriginal as a partner) is seeking certification as an official Fannie Mae eMortgage Technology Service Provider – a certification that only a handful of technology organizations have been granted by the mortgage lender. Certification is expected by the end of year.
Several of DocuSign’s partners and customers have thrown their weight behind today’s announcement – including Fannie Mae and Accenture Mortgage Cadence.
“Fannie Mae is pleased that DocuSign is undergoing technical compliance testing with us for delivery of eMortgage loans, and is seeking approval to join our eMortgage Technology Service Provider listing,” said Cindy McKissock, Vice President of Customer Digital Experience, Fannie Mae. “Supporting our customers’ transition to digital closings is a priority for us – and we expect DocuSign’s platform to help remove barriers and obstacles to the adoption of eNotes, thereby increasing usage across the industry.”
For its part, Mortgage Cadence, an Accenture Company – an existing DocuSign partner – is excited about this focus on eMortgages.
“Mortgage Cadence is committed to making digital mortgages a reality. Combined with DocuSign’s digital mortgage strategy, these additional enhancements align well with our own vision to provide the last lending solution our customers will ever need,” said Jim Rosen, Document Center Product Manager at Mortgage Cadence.
“Today, lenders and title companies tend to rely on paper or hybrid processes to complete loans,” explained DocuSign’s Chief Product Officer, Ron Hirson. “We are supporting our Real Estate customers for today’s launch by delivering new eNotary and eNote features to our DTM platform – that helps more organizations move to a paperless process that is fully auditable, less prone to errors, and results in faster closings.”
The enhanced features are being shown this week at the MBA conference and expo are slated to come to market towards the end of the year. For more information, visit www.docusign.com.
About DocuSign, Inc.
DocuSign® is changing how business gets done by empowering anyone to send, sign and manage agreements anytime, anywhere, on any device with trust and confidence. DocuSign and Go to keep life and business moving forward. For more information, visit https://www.docusign.com/, call +1-877-720-2040, or follow us on Twitter, LinkedIn and Facebook.
Copyright 2003-2016. DocuSign, Inc. is the owner of DOCUSIGN® and all of its other marks (www.docusign.com/IP). All other marks appearing herein are the property of their respective owners.
Integration Accelerates Mortgage Closing Process with Leading eSignature and Digital Mortgage Platforms
DENVER; May 24, 2016 – Mortgage Cadence LLC, an Accenture Company (NYSE: ACN), is announcing an all new integration with award-winning electronic signature and Digital Transaction Management (DTM) provider DocuSign, Inc. (DocuSign®), and the vaulting, transaction and transferable records services of eOriginal, Inc. This new integration helps to expedite the mortgage origination process while creating a more streamlined, reliable and secure digital experience for borrowers, lenders and investors.
With Mortgage Cadence’s proprietary Document Center solution, documents are generated dynamically in just seconds based on loan-level data and are then delivered for electronic signature using DocuSign. Lenders and borrowers alike are now able to securely review and electronically sign disclosures and closing packages in minutes – anytime, anywhere, on nearly any device.
“DocuSign and Mortgage Cadence share a vision for a digital future where the hassles, costs and lack of security from the reams of paperwork required to apply for, process and close a mortgage are a thing of the distant past,” said Georg Gerstenfeld, Vice President of Real Estate Solutions at DocuSign. “The integration of DocuSign and eOriginal into Mortgage Cadence’s Document Center advance us towards that digital future today by empowering anyone to transact business all-digitally.”
eOriginal extends the Mortgage Cadence loan experience by allowing lenders to deliver a fully electronic mortgage process built around its best-of-breed solution, which was recently certified as a Fannie Mae eMortgage solution provider.
“With a new generation of homebuyers and increasing demands for transparency from regulators and investors, we have reached a tipping point in the digital transformation of the mortgage industry,” stated Stephen Bisbee, CEO and president of eOriginal. “Working with great partners like Mortgage Cadence and DocuSign, we have paved the way for an outstanding end-to-end solution that offers a practical migration path for adopters while addressing an acute need for data exchanged between counterparties.”
All signed documents are tracked, retrieved, and stored in the Mortgage Cadence Enterprise Lending Center or Loan Fulfillment Center, ultimately driving additional tasks and keeping the lender on-platform and focused on the lending process. DocuSign and eOriginal will help enable the following benefits:
“Most borrowers today – whether millennials or baby boomers – are accustomed to doing just about everything online,” said Trevor Gauthier, president of Mortgage Cadence. “In order to increase borrower satisfaction, lenders require tools that allow them to originate and close mortgages digitally. Integrating with DocuSign’s and eOriginal’s best-in-class eSignature and eClosing solutions, along with our proprietary loan origination and document preparation and delivery solutions, allows us to provide an incredibly robust service to our clients and their borrowers – a testament to our dedication to the mortgage industry.”
About Mortgage Cadence
Mortgage Cadence has been partnering with lenders since 1999, offering the industry’s only true one-stop-shop mortgage technology solutions designed for point-of-sale through post-closing. In a time when efficiency, speed and the customer experience are paramount to the success of lenders, Mortgage Cadence offers the most reliable software and dedicated people, supporting lenders every step of the way. Visit www.mortgagecadence.com for more information.
About DocuSign, Inc.
DocuSign® is changing how business gets done by empowering anyone to send, sign and manage documents anytime, anywhere, on any device with trust and confidence. DocuSign and Go to keep life and business moving forward. For more information, visit www.docusign.com, call +1-877-720-2040, or follow us on Twitter, LinkedIn and Facebook.
Copyright 2003-2016. DocuSign, Inc. is the owner of DOCUSIGN(R) and all of its other marks (www.docusign.com/IP). All other marks appearing herein are the property of their respective owners.
eOriginal offers an end-to-end digital mortgage solution — from signature to notarization and recording through warehousing and custodial services — that addresses the gaps that have long hampered broader adoption of digital mortgage platforms. eOriginal is spearheading the collaboration to deliver a fully digital process that includes eNotarization, eRecording, eWarehousing, eCustodian services and integration with Mortgage Industry Standards Maintenance Organization (MISMO) compliant SmartDocs and Forms. Well-designed for disruptive lending markets, eOriginal already is delivering its lending and asset management platform to the student loan, vacation ownership and vehicle finance industries, among others.
Integrated with eOriginal’s eAsset Management Platform and the newly released DatalyticsTM solution, the eMortgage platform will empower greater data transparency, better analysis and regulatory compliance capabilities throughout the mortgage loan process. For more information, visit http://www.eoriginal.com.