A group of mortgage lenders and technology providers, including Silanis Technology, on Monday officially launched an initiative to educate lenders about the benefits of adopting eMortgage technology. EMortgages Today is dedicated to leveraging industry standards and proven technology to assist lenders in realizing the abundance of time and cost savings inherent with eMortgages.
The members of eMortgages Today include Silanis Technology, VMP Mortgage Solutions, Decade Systems, eLynx, Stewart Information Services, Quicken Loans and Interlink Electronics. Each company has products or solutions in place today to address a specific element of the eMortgage chain, including electronic disclosure delivery and application signing, data integration, forms support, SMART Document creation, eClosing, eVaulting and eNotarization.
The announcement was made during the Mortgage Bankers Association’s 91st Annual Convention in San Francisco.
“The MBA plays a primary role in the industry’s creation of eMortgage data standards,” said Michael Laurie, vice president of Silanis. “Lender education is the key to widespread adoption of eMortgages, so the MBA Annual Conference and Expo is the best place for us to reach this market.”
“The educational platform of eMortgages Today is directly inline with VMP’s efforts to promote eMortgages, such as our development and distribution of the industry’s first SMART Document Viewer as freeware. By providing such information and tools, we can help the industry begin realizing the vast benefits of paperless mortgages,” said Roger Gudobba, senior principal of strategic business development for Bankers Systems’ mortgage business unit and VMP Mortgage Solutions.
EMortgages Today supports and encourages the adoption of standards from the MBA and allied associations including the Mortgage Industry Standards Maintenance Organization (MISMO), the Secure Identity Services Accreditation Corp. (SISAC), the Mortgage Electronic Registry System (MERS) and the Standards and Procedures for Electronic Records and Signatures (SPeRS).
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