Communication Intelligence Corporation (CIC), a supplier of electronic signature solutions for business process automation in the financial industry, and LenderLive Network Inc., a provider of business process outsourcing and loss mitigation component services to the financial industry, have announced they have entered into a licensing agreement to incorporate CIC's SignatureOne Ceremony Server into LenderLive's suite of products.
Under the terms of the agreement, CIC will provide LenderLive with its SignatureOne Ceremony Server solution. LenderLive, through its Guardian Mortgage Document division, will provide CIC's electronic signature offering to servicers who need to reduce the paperwork burden and expense in the delivery, signing, quality control and countersigning of all loan modifications. Equally as important, this solution will shorten the loan modification process and speed aid to distressed homeowners facing potential foreclosure.
LenderLive has offered loan modification services since the administration established the Make Home Affordable programs last April. LenderLive implemented and delivered the first trial modification plans to borrowers and has touched one million loans and delivered more than a quarter million trial plans to troubled borrowers. This new offering is designed for any servicer looking to speed up the process of permanent loan modifications for any of the more than 12,000,000 homeowners currently behind on their mortgage payments and at risk of losing their homes.
"This service will have an immediate impact on loan servicers' loss mitigation efforts by accelerating communications, reducing the cycle time for document processing, and enabling servicers to quickly finalize loan modifications," said Rick Seehausen, president and chief executive officer at LenderLive. "This new offering will further fuel the Treasury program designed to help home owners into affordable loans. Our alliance with CIC will improve overall service levels to banks and the consumers in an effort to get these trial plans converted to permanent loans."
The SignatureOne Ceremony Server is a J2EE server product that provides the capability to define and manage an electronic signature process within a Service-Oriented Architecture (SOA) to be implemented in an On-Premise Deployed Model or through a SaaS environment.
For more information, visit www.lenderlive.com or www.cic.com.