a la mode has announced that SureDocs, the company's eSignature system, has applied its 3.5 millionth eSignature. SureDocs has been used by thousands of mortgage professionals to apply secure eSignatures on mortgage disclosure docs, substantially speeding the process since originators can have signatures in minutes rather than days. SureDocs has also saved mortgage originators from escalating shipping fees and the wasted time involved in manually mailing packages.
"We've saved $61,250 this year alone in overnight shipping bills, copier and storage expenses," said Andy May with American Dream Residential. "We'll send the GFE with SureDocs and if something changes or if we switch lenders, we would be hit with shipping fees and delays every time if we didn't have SureDocs. And the other thing you can't put a price on is the peace of mind. With SureDocs, there's a full audit trail I can access for any signature on any doc."
With increasing regulatory scrutiny on mortgage professionals, SureDocs' audit trail has become as important as the time and cost savings associated with eSignatures. SureDocs' end-to-end audit trail helps mortgage originators document HERA compliance, prevent GLBA violations, and provide safeguards against mortgage fraud.
"When we first introduced SureDocs in 2006, usage was limited to the most progressive mortgage companies," said Brad Eaton, chief product officer at a la mode. "However, eSignature use is exploding now because of a perfect storm of four factors. First, more lenders are announcing their acceptance of and preference for e-Signatures. Second, the current regulatory environment has mortgage professionals looking for more security and more compliance documentation. Third, in this economy, mortgage professionals are looking for ways to cut costs and speed closings. And finally, HUD recently announced their plan for full eSignature acceptance on disclosure docs by Fall of 2010, if not earlier. These factors have propelled SureDocs to this staggering 3.5 million milestone."
The momentum will continue when a la mode broadens the reach of SureDocs with market-specific versions. The company announced SureDocs for Appraisers and SureDocs for Agents in April. In contrast to generic eSignature products, these market-specific applications will make eSigning much easier for appraisers and real estate agents since their documents will be pre-tagged for signatures. Pre-tagging eliminates the manual work involved with other solutions, and ensures signature and initial blocks aren't missed in a manual tagging process. These markets will also benefit from SureDocs' annual flat-fee pricing, rather than paying per document.
For more information, visit www.alamode.com.
