Stewart Standardizes on Silanis e-signatures for both its e-mortgage and Internal Applications
|March 29, 2006|
Montreal, QC(PRWEB)-- Silanis Technology Inc. announced that Stewart Information Services Corp. will extend the use of Silanis’ ApproveIt electronic signature platform for its internal operational processes. The real estate information and transaction management company expects its internal processes to benefit from significant time and cost reductions, as has its settlement and title services since integrating Silanis’ solutions in 2004.
“Early results from a cross-section of Stewart offices have demonstrated that a closing can be conducted in as few as 15 minutes when the consumer has had access to SureClose® and the eSignature solution,” said Travis Wright, president and director of business development for Stewart Transaction Solutions. “Stewart’s decision to standardize on Silanis’ electronic signature solutions demonstrates our ongoing commitment to investing in technology that will increase our own productivity and effectiveness, and thus improve customer service.”
In 2004, Stewart Title Co. and Silanis co-developed the patent-pending eClosingRoom™, which is integrated with the SureClose® online transaction management system, becoming the first and only system to handle all real estate closing documents electronically. Prior to the closing meeting, homebuyers electronically review all closing documents and electronically sign all non-notarized documents. The remaining documents can then be electronically signed in the presence of a notary using the system’s eNotary capability. The electronically signed documents are also made available to participating county recorders, where permitted by law.
Homebuyers benefit because they can take the time they need to review the documents in advance of the closing meeting, thereby reducing their time at the closing. Settlement agents benefit because they can process closings faster and therefore accommodate a larger volume of closings at the end of each month. And lenders will benefit because they will receive a QA’d eMortgage package within minutes after closing and eliminate paper-related, processing costs.
In 2006, Stewart plans to use Silanis’ enterprise signing platform for a variety of internal processes, including employee hiring and on-boarding processes. The platform will enable Stewart to increase its productivity and operational efficiency, while maximizing its investment in other IT applications by ensuring that processes requiring signature approvals remain electronically connected and do not fall back to paper.