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OAKBROOK TERRACE, Ill., 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 the 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 Bureau’s 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 active audit trail captures the applicant’s 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.
eSignLive™ is the electronic signature solution behind some of the world’s most trusted brands. Regulated industries and top analyst firms recognize eSignLive for its ability to balance the highest levels of security, compliance and auditability with ease-of-use to automate any process – from the simplest, internal signing workflow to the most complex, customer-facing transaction. Available in the cloud and on-premises, and with full white-labelling capabilities, eSignLive supports an organization’s digital transformation strategy across the enterprise. eSignLive is the trade name of Silanis Technology Inc., a VASCO group company. Learn more at https://www.esignlive.com/.
Copyright © 2017 VASCO Data Security, Inc., VASCO Data Security International GmbH. All rights reserved. VASCO® and eSignLive™ are registered or unregistered trademarks of VASCO Data Security, Inc. and/or VASCO Data Security International GmbH, or Silanis Technology Inc. in the U.S. and other countries. All other trademarks or trade names are the property of their respective owners.
Media contact: Sarah Hanel eSignLive by VASCO 250-216-1762 [email protected]
