Stewart Strengthens eMortgage Platform with Electronic Vault Management System
March 27, 2007
HOUSTON--(BUSINESS WIRE)--Stewart announces the release of its complete electronic vault management system at the Mortgage Banker Association (MBA) Technology Convention in Tampa, Fla., on March 25-26, 2007.
The Stewart electronic vault is designed to store, maintain and transfer original electronic loan documents. In conjunction with other Stewart solutions, the electronic vault expedites a full end-to-end eMortgage process.
"Our newly developed electronic vault management system, coupled with SureClose® collaborative eDocument management platform, revolutionary eClosingRoom(TM), eSignature and eRecording technologies, positions Stewart to offer the mortgage industry a seamless solution to support a total paperless process," said Tim Anderson, vice president of eMortgage Services, Stewart Lender Services. "Our electronic vault is not just about secure storage, it's about the ability to electronically manage, pool, allocate and deliver electronic loans to anyone in the mortgage industry."
The Stewart electronic vault is built on technology from the leading electronic signature and vault management solution provider, Silanis Technology.
"This new offering from Stewart will further the adoption of eMortgages by assuring lenders and investors that electronic mortgage transactions are secure, enforceable and transferable to the secondary market," says Michael Laurie, vice president of strategic development for Silanis Technology. "We are very pleased to be working closely with a company like Stewart that is taking a leadership position to improve the real estate and mortgage transaction process."
Stewart's electronic vault securely stores eNotes according to the Mortgage Industry Standards Maintenance Organization (MISMO) and other industry standards and guidelines. It also integrates with MERS® (Mortgage Electronic Registration System) eRegistry and eDelivery to support vault-to-vault transfers, accelerating the delivery of eNotes to the secondary market.
The multiple levels of security rights provided by Stewart's electronic vault allows users to search and pool eNotes, grant role-based viewing access, track the transfer of documents and perform real-time document audit trails.
"At Stewart, we develop technologies to facilitate the complete eTransaction with all parties involved in a paperless process," said Anderson. "Our electronic vault management system demonstrates how we are truly digitizing the mortgage process from loan origination to eClosing and eDelivery."
Source: Stewart Information Services Corp.