DocMagic Inc., a provider of fully compliant loan document preparation, compliance and eDelivery solutions for the mortgage industry, recently announced that its chief compliance officer, Melanie Feliciano, has been appointed to the board of directors of the Electronic Signature & Records Association (ESRA).
Feliciano was elected to the post during the organization's E-Signatures 2013 Conference in New York, held in December.
‘Melanie will make an excellent addition to the board of this organization,’ Dominic Iannitti, CEO of DocMagic, says in a release. ‘Her legal background and long experience in the industry have made her a great advisor and educator to DocMagic's customers. Now, she can share her experience with ESRA members. It is our hope that her service will lead to greater adoption of eSigned documents in the mortgage industry.’
ESRA is an important initiative focusing on e-signatures and electronic records. Its original founding members included Genworth Financial and Wells Fargo Home Mortgage. Education is the primary mission of ESRA. The association is a centralized educational resource for its members and the public with respect to the legal, regulatory and operational issues in relation to the use of electronic signatures and records.
‘We see fewer challenges to industry-wide adoption of eSignatures in the mortgage industry, but there is still the need for education,’ Feliciano says. ‘My involvement with DocMagic's eSign product, coupled with my educating our customers about the benefits of eSignatures and the law that applies, has prepared me to contribute to this effort. I look forward to serving in this capacity.’
The company also announced that Tim Anderson, director of services, has been elected to the Mortgage Bankers Association's MISMO Residential Governance Committee.
The governance committee is responsible for administering the day-to-day standards development activities of MISMO – the Mortgage Industry Standards Maintenance Organization, a nonprofit subsidiary of the MBA. The committee is also responsible for promoting adoption of MISMO standards, for leading educational initiatives and for developing strategic partnerships with other standards organizations.
‘This is a critical time for our industry as most of the new regs focus on the quality of loan data and document integrity,’ Anderson says. ‘Both the Consumer Financial Protection Bureau and Federal Housing Finance Agency have endorsed MISMO as the standard by which we can ensure compliance between all systems that touch and validate data and documents in a standard and consistent format. With the final approval and release of the new MISMO 3.3 standard, one of my main goals is to help the industry understand the value of adopting the eMortgage as the best way to ensure consistent loan quality, transparency and compliance across all systems and processes.’