Rochester, N.Y.-based Xerox Mortgage Services has added e-signature – a secure way to complete mortgage loans without having to sign hard-copy documents. This enhancement builds upon Xerox's current Web-based BlitzDocs Collaboration Suite that uniquely supports paper, imaged and electronic loan documents, the company notes.
Mortgage participants can now sign new or refinanced home loans online by simply pointing their mouse to and clicking on the document's signature line. Electronically signed documents are then securely managed and stored in a repository known as an electronic vault. Audit tracking detects where the documents travel throughout the system to keep tabs on any transactions made during the loan life cycle.
Xerox points out that e-mortgage solutions allow mortgage lenders to turn loans around quicker with greater control, reduce printing and mailing costs, and make a positive impact on the environment.
‘Mortgage lenders who embrace electronic signatures have a competitive advantage in today's complex marketplace,’ states Greg Smith, vice president of Xerox Mortgage Services. ‘Xerox's enhanced e-mortgage functions offer our customers the most comprehensive solution for paperless mortgage transactions in the industry.’
Source: Xerox Mortgage Services