Online Documents, Inc. Announces SMART Document Forms Library For Electronic Mortgages
February 25, 2003
HOUSTON, /PRNewswire-FirstCall/ -- Online Documents, Inc., a subsidiary of Stewart Information Services Corp. (NYSE: STC - News), has announced the availability of a complete 50-state library of eMortgageDocs (SMART Documents) for all Fannie Mae primary mortgage products.
Online's eMortgageDocs technology and forms library were developed over the past 20 months in conjunction with Fannie Mae and conform to Fannie Mae's emortgage delivery requirements released July 2002, and MISMO's approved SMART Document specifications for electronic documents.
"Online now offers an immediate, ready-to-use outsource solution for three-part XHTML mortgage documents," said Joan Ingham, president of Online. "While others continue to talk about the future possibilities of electronic documents, Online can actually deliver complete eMortgageDocs closing packages today. eMortgageDocs are available to Online's customers with a simple mouse click from any of Online's current document solutions."
Commenting on this important milestone, Harvey Trimble, managing director, eBusiness Strategy and Marketing, Fannie Mae, said, "In an effort to convert the promise of electronic documents into practical reality, Fannie Mae has worked cooperatively with Online Documents, Inc. to facilitate the creation of XHTML mortgage documents meeting both MISMO specifications and Fannie Mae's document technology requirements.
Kevin Gugenheim, executive vice president and chief operating officer of Stewart Mortgage Information, said, "This breakthrough in providing a 100 percent outsource solution for eMortgage documents is the result of SMI's focus on improving the real estate transaction process by working in partnership with our lender customers and other industry players. Using the three-part XHTML form provided by Online as a base product, Stewart can provide comprehensive product and process solutions for lenders contemplating early entry into the electronic documents arena, making paperless closings a practical possibility."
Source: Stewart Information Services Corp.