a la mode helps large lenders by introducing eMortgages at the point of origination SAN DIEGO, Calif. – The paperless mortgage has been long promised, but affordable, compliant technology to empower small businesses to start the digital process and make it a reality has been elusive. At the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference & Expo here, a la mode, inc., a leader in real estate technology, introduced SureDocs, delivering the promise of e-signature enabled paperless mortgages in an affordable, easy to use application. SureDocs creates a PDF digital file from any desktop application a user can print – including their LOS, word processing or spreadsheet software. The digital documents are easily stored, retrieved and manipulated. Loan officers and mortgage brokers manage electronic copies of virtually every paper record in a mortgage deal as simply as printing on paper. Digital files do not make a transaction paperless, though, without electronic signature capability. Through a la mode’s partnership with Wave Systems, SureDocs includes leading edge e-signature technology, allowing small businesses to obtain and manage e-signed documents the way only the largest lenders could previously. As GSE and large lender e-signature and eMortgage initiatives come online, they'll demand the same digital files from their downstream partners. Over 20,000 a la mode customers are ready to provide those digital files in an efficient and secure manner. Documents to be e-signed are sent and received securely, in compliance with Gramm-Leach-Bliley. Soon, SureDocs will also support the MISMO SmartDoc format, said Brad Eaton, VP of Mortgage Products with a la mode. “Mission critical loan documents that currently may take days to execute can now be signed real time, online, using GLB compliant technology once only available to the largest brokerages and mortgage originators,” Eaton commented. “This results in significant small-business cost savings through the elimination of document transportation, processing and delays in closings,” he said. "But, the true value to the industry as a whole, lies in the benefit of originating the loan file digitally so upstream lenders don't have to deal with the time and expense of grappling with paper. It doesn't matter how much eMortgage technology is embraced upstream, if the small-business originators and brokers are still sending paper. We've solved the 'last-mile' problem in the mortgage transaction chain." A subset of SureDocs features is currently included with Professional Level Mortgage XSites making it easy for loan originators to generate electronic documents from their LOS or any other application and instantly upload them to their Mortgage XSite. Customers without an XSite who purchase SureDocs and later want to upgrade to a full Mortgage XSite will be able to do so easily. Details about SureDocs can be found at www.alamode.com. About a la mode Source: a la mode, inc. Media contact: |
