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Stewart Expands eMortgage Offering with Electronic Disclosure Solution

October 15, 2007

BOSTON--Stewart released its newest electronic disclosure solution designed to automate the lender's initial disclosure process at the Mortgage Bankers Associations Annual Convention. Stewart's eDisclosure solution provides the ability for lenders to electronically transmit and display initial disclosure documents to their borrowers in a secure, online, consumer-friendly environment for electronic acceptance.

"The new electronic disclosure solution eliminates the need for lenders to print and mail their initial disclosure documents to the borrowers," said Jason Nadeau, senior vice president of eLender business for PropertyInfo Corp., a Stewart company. "In addition to automating the process of delivering the disclosures, lenders have the ability to utilize Stewart's subsidiary, Online Documents Inc., as the provider of the disclosure packages."

Lenders can leverage and simplify the eDisclosure process to its fullest by ordering compliant, warranted Initial Disclosures packages through Online Documents Inc. Online Documents Inc. provides compliant three-day Initial Disclosure and Closing Document packages for all 50 states within minutes of a request - 24 hours per day, seven days per week. The company provides reporting on the status of the eDisclosure package and offers services to print and mail packages when not electronically viewed or accepted. In addition to displaying initial disclosure documents to borrowers, Stewart's eMortgage suite now provides the lender with a complete paperless solution starting with electronic disclosures, closing electronically and ending with storage in Stewart's eMortgage Manager electronic vault along with MERS® eRegistration and electronic delivery to investors. "Stewart's eMortgage solution is uniquely positioned in the market by being the most complete, end-to-end solution for a lender," Nadeau continued. "Recent market and regulatory changes have increased the immediacy to innovate and dramatically improve the process. I believe Stewart is the only organization that contains all the necessary components to lead in the eMortgage space." Stewart's eMortgage solution provides the lender a complete solution including electronic disclosures, electronic-document sharing and collaboration through SureClose®, creation of compliant SMARTDocs through Online Documents' eMortgageDocs(TM), borrower review of closing documents, electronic signing of non-notary documents, eClosing through Stewart's eClosingRoom(TM), eNotarization of notary documents, electronic vaulting, eDelivery and eRecording. "Stewart is committed to providing our lender partners with significant improvements in the loan closing and settlement process," said Stewart Morris Jr., president and co-chief executive officer of Stewart Information Services Corp. and chairman of PropertyInfo Corp. "Our organization has been the leader in innovation around the closing experience and through our embrace of eMortgage innovations, we will greatly enhance consumers' closing experience. Ultimately, this is about serving the customer and driving more loans to our partners through an improved and differentiated closing experience."

Source: Stewart Title



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