Magazine article Mortgage Banking

Texas Vendors Form eMortgage Alliance

Magazine article Mortgage Banking

Texas Vendors Form eMortgage Alliance

Article excerpt

Describing it as an effort to address the practical business needs of today while keeping an eye toward tomorrow, three Texas-based technology vendors have formed an alliance by which they will jointly offer mortgage lenders a comprehensive, end-to-end eMortgage solution.

The alliance of Synergistic Technologies Inc., Irving, Texas; MRG Document Technologies, Dallas; and World Wide Notary LLC, Vernon, Texas, had been in the works for about a year, according to the companies, but it was formally announced at MBA's annual National Technology in Mortgage Banking Conference & Expo in San Diego.

The three companies told Mortgage Banking they will combine their respective solutions and expertise in document preparation and delivery, document imaging, and management and electronic signatures to streamline paper-based loan processes for mortgage lenders.

This will provide lenders with a flexible, wide-ranging eMortgage migration strategy that includes automated loan processing workflow; online document sharing; secure, hosted document management; and electronic signing, according to Terry King, MRG's group chairman.

"The world is beginning to be ready for a fully electronic [mortgage] package," said King. "You can plug and play these pieces until the industry gets to the point where they really want to move forward with a large number of these electronic packages."

For World Wide Notary, the alliance extends the market reach of its flagship DigaSign product suite, while providing mortgage lenders with an opportunity to eliminate errors and step up their document conversion and electronic processing initiatives, said Bob Rice, World Wide Notary's chief executive officer. …

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