a la mode inc., a developer of desktop, mobile and Web tools for the real estate and mortgage industries, says its SureDocs e-signature system is being broadened to include market-specific versions for appraisers and real estate agents.
The deployment of appraisal and agent versions of SureDocs, on the heels of Federal Housing Administration's confirmation that it now considers e-signatures on third party non-lender documents to be just as valid as previous ‘wet ink’ paper signatures, is a "huge step forward in truly creating paperless loans with all of the documents being "first generation' electronic files," the company says.
SureDocs for Appraisers has already been released, with a version directly embedded into the company's new TOTAL 2010 form-filling system. A standalone version compatible with competing forms products is on the way, a la mode says.
With SureDocs, PDF appraisals can be transmitted, together with the full XML data. SureDocs then stores a ‘digital fingerprint’ of the PDF files on its verification servers, so auditors can authenticate the version they have versus the original and detect any unauthorized changes. The PDF contains notices to that effect, and each signature imprint contains a serial number unique to that document.
a la mode plans later this year to release a developer's kit allowing institutions to track and manage individual SureDocs appraisals, as well as authenticate en masse the appraisals in their portfolios.
The company's decision to make a dedicated real estate agent of its SureDocs product was based on a la mode's finding that many of the product users are actually real estate agents who are using SureDocs for contracts and disclosures.
SOURCE: a la mode