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Lend America implements 100 percent automated paperless platform

National Mortgage Professional
Feb 23, 2009

Mortgage servicer Wingspan Portfolio Advisors selects SigniaDocs eVaulting and eSigning to boost loan modification efforts MortgagePress.comloan modification, Wingspan Portfolio Advisors, SigniaDocs, eVaulting, eSigning, Steven Horne In an effort to make loan modification programs more effective, Wingspan Portfolio Advisors, a Carrollton, Texas firm specializing in saving seriously delinquent loans from foreclosure, has selected SigniaDocs' eVaulting and eSigning capabilities to provide faster service for its loan modification efforts. "One of the most common reasons for loan modifications to fail before they get started is that borrowers will often give up on the transaction during the period between agreeing to the loan modification and signing the paper documents that create the new loan," says Steven Horne, Wingspan Portfolio Advisors founder and CEO. "With SigniaDocs' eModification service, it all happens very quickly, and speed is essential to making the process work. They allow us to execute loan modifications in minutes by using the Internet and SigniaDocs eMortgage electronic vault, instead of waiting for courier services." The secret to making loan modifications work effectively is two-fold, Horne explains. "First, you have to approach each modification as a highly individualized transaction. 'One size fits all' has proven not to work well, as evidenced by all the loan modifications that have already failed. That's why we tailor modification offerings closely to each borrower's needs and situation," he says, adding, "The second factor is the speed with which the modification is accepted and signed by the borrower, and that's where SigniaDocs comes in." By integrating SigniaDocs eModification technology with Wingspan Portfolio Advisors' platform, the Wingspan loan resolution specialist is able to send the necessary documentation instantly, while the borrower is still in close contact, is eager to stay in their home and has agreed to a payment plan that will work for them. "The borrower receives a secure link to our eVault, where the documents reside, executes them on the spot with a 'click to sign' signature, and the deal is finalized," says Tim Anderson, SigniaDocs president. "Wingspan Portfolio Advisors then takes delivery instantly, directly from our eVault." Wingspan Portfolio Advisors works mainly with borrowers who have given up hope because they are so far behind on their payments that lenders have often already begun the foreclosure process. "We spend a lot of time on the phone with borrowers learning about their individual cases," says Steven Horne. "Once we determine that they are really motivated to stay in the home, we work on creating a payment plan that they can handle, which often means a loan modification. We find that most borrowers, if you throw them a lifeline, will grab it and hold on tightly." Getting the loan modification executed quickly, Horne says, is essential to that process. "Borrower commitment is a strong motivating factor in the process. By offering eModifications as opposed to relying on other slower methods, we are much more likely to end up with a loan modification that will work over the long haul." For more information, visit or
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