Silanis Offers First Enterprise Electronic Signature Platform for Mortgage and Real Estate Transactions

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Silanis Technology today announced that financial institutions, mortgage lenders, real-estate brokers and service providers can now license a SINGLE platform to support ALL of their needs for electronic signatures and document delivery, including the electronic management and vaulting of MISMO-compliant, e-mortgage notes. The electronic signature provider is the first to offer an enterprise, electronic signature platform with the flexibility and scalability needed to support multiple, high-volume business applications across all mortgage and real estate transactions.

While financial institutions and real estate service providers are making significant investments to cut costs and improve customer service by moving towards paperless transactions, they’re not interested in outsourcing to companies that may disappear in 12 months

Silanis Technology today announced that financial institutions, mortgage lenders, real-estate brokers and service providers can now license a SINGLE platform to support ALL of their needs for electronic signatures and document delivery, including the electronic management and vaulting of MISMO-compliant, e-mortgage notes. The electronic signature provider is the first to offer an enterprise, electronic signature platform with the flexibility and scalability needed to support multiple, high-volume business applications across all mortgage and real estate transactions.

“While financial institutions and real estate service providers are making significant investments to cut costs and improve customer service by moving towards paperless transactions, they’re not interested in outsourcing to companies that may disappear in 12 months,” said Michael Laurie, co-founder and vice-president of Silanis, and a past member of both the Mortgage Bankers Association Board of Directors Technology Steering Committee and the Standards and Procedures for Electronic Records and Signatures (SPERS) committee.

“Our customers repeatedly tell us that they want control of the delivery, presentation and signing of documents, and ultimately the customer experience, by bringing the technology under the same roof as their other mission-critical systems.”

Silanis’ enterprise, electronic signature platform is customizable to provide seamless integration with customers’ applications and support for the business rules and processes required to manage the electronic delivery, presentation and signing of documents. The platform supports transactions with MISMO SMARTDocs, Adobe PDF™ and other key file formats over the web or in customer-facing, point-of-sale environments, while ensuring that it meets all related legal and compliance requirements.

A strong, professional services team that has in-depth experience delivering solutions to the mortgage lending and real estate industries also backs Silanis’ platform. The company’s solutions have been in full production for processing loan applications since 2002, and mortgage and real estate closings since 2005. Its enterprise platform is currently being integrated into real estate listing processes and processes for delivering mortgages into the secondary market.

The return-on-investment that has been realized to-date is significant. Since deploying Silanis’ platform in 2000, GMAC Commercial Mortgage has grown its loan portfolio by nearly 50% to $110 billion with no additional staff, and has reduced its cost-per-loan services to half of the industry average.

Stewart Title, on the other hand, has seen closing times drop to 15 minutes when using the eClosingRoom, because buyers are now able to review and sign the majority of documents over the web in advance of the actual closing.

The foundation for Silanis’ enterprise electronic signature platform is ApproveIt, a 6th generation technology that combines the security of a digital signature with a legally enforceable process, and advanced automation and usability features. The Silanis enterprise platform for the mortgage industry consists of three solutions: ApproveIt Web Server, ApproveIt Transferable Records Manager, and ApproveIt Desktop.

ApproveIt Web Server fully automates transactions requiring the presentation, signing and delivery of regulated or legally enforceable documents over the web. As a zero-download solution, only a web browser is required to electronically deliver, review, and sign documents over the web or in a point-of-sale environment. The solution is ideal for: closing a real-estate/mortgage transaction; signing real estate agent contracts at a realtor’s office; presenting and signing loan applications over the web; and reviewing and signing non-notarized documents over the web prior to closing.

ApproveIt Transferable Records Manager provides digital copy management and e-vaulting of e-mortgage notes. The solution manages secure access to the e-vault through its registry by maintaining secure audit logs and records of e-mortgage note transactions including manual and automated transfer of assignment and location. In addition, it also provides and manages secure communication with the MERS® eNote Registry. The solution is ideal for lenders, custodians and service providers to manage and deliver e-mortgages into the secondary market.

ApproveIt Desktop is designed for offline signing processes and internal, ad-hoc operational applications. Supported applications include Microsoft Word, Excel, Adobe PDF, Adobe eForms and IBM Workplace Forms. The solution is ideal for capturing customer signatures in an offline environment, such as on a real-estate agent’s tablet PC, as well as for processing internal paperwork, such as purchase orders, expense reports, and human resource documents.

A key advantage of the Silanis enterprise platform is the interoperability of its solutions. For example, a document that is signed over the web using ApproveIt Web Server can be brought internally for further verification and processing using ApproveIt Desktop and vice-versa.

“As the most experienced electronic signature provider with more than two million government and commercial users, Silanis is uniquely positioned to empower the mortgage industry with both a proven methodology and a comprehensive platform for eliminating paper from mortgage processes once and for all,” concluded Laurie.

About Silanis

Founded in 1992, Silanis Technology Inc. is the largest and most experienced provider of electronic signature solutions. More than 1,100 government and commercial organizations, representing two million users, depend on Silanis' solutions to accelerate operations, improve service, and reduce costs. Customers include Stewart Title, GMAC Commercial Mortgage, BMW Financial Services, US Postal Service, National Institute of Health, General Services Administration and enterprise licenses with the US Joint Chiefs of Staff and US Army.

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Mary Ellen Power
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