Advances in Technology Drive Growth of Online Mortgage Documents.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.--(BUSINESS WIRE)--Aug. 18, 1998--Online Mortgage Documents Inc., a subsidiary of the Stewart Title family of companies, has announced the relocation and expansion of its headquarters. Online specializes in loan document technology and generates mortgage documents via electronic data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. . Online was located in Walnut Creek, Calif., on Newell Hill Place near South Broadway in a 10-year-old, 8,000-square-foot facility. Its 63 employees have just completed a move to a new 19,000-square-foot location at 1320 Willow Pass Road in Concord, Calif. The new space will accommodate up to 120 employees. Though the current residential real estate market boom is partially responsible for Online's expansion needs, higher demand for automation from its primary customers - banks, mortgage brokers and other lending institutions - is contributing to the company's rapid growth. More and more, these financial institutions rely upon Online's method of conducting business to improve efficiency and reduce errors in processing and delivery of loan documentation. "The primary reason for our growth is the sophistication so·phis·ti·cate v. so·phis·ti·cat·ed, so·phis·ti·cat·ing, so·phis·ti·cates v.tr. 1. To cause to become less natural, especially to make less naive and more worldly. 2. of our clients," says Stan Baldwin, vice president of marketing. "With our system, it takes only about two minutes to transmit all the documents you need for a transaction anywhere in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "In the old days, you might have had to reschedule re·sched·ule tr.v. re·sched·uled, re·sched·ul·ing, re·sched·ules To schedule again or anew: rescheduled the meeting for the following week; rescheduled the debts of many developing nations. a closing because something was wrong with one of the documents, and the customer would need to come back another day. Now, with modems and the Internet, we use the telephone line to transmit data without having to use an overnight courier." Online sells its proprietary loan documentation technology nationwide to banks, mortgage wholesalers and other lending institutions. The system, which handles more than 30,000 types of loan documents customized to the laws of each state, provides these institutions with a complete set of applications, initial documents or closing documents. Any lender can complete the documentation according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. its customer's needs, send it to Online for processing and expect to print out the completed paperwork within minutes. Online provides its clients the correct legal papers in a real estate transaction, saving them money in costly legal advisory fees. About Online Mortgage Documents Online Mortgage Documents Inc. is a nationwide provider of mortgage documents and a leading provider of documents via electronic data communications. The company is a subsidiary of the Stewart Title family of companies. Stewart Title Guaranty is one of the nation's largest title companies, trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors SISCO SISCO Self Insured Services Company (Dubuque, IA) SISCO Saudi Industrial Services Company SISCO System Integration Specialists Company SISCO Somuah Information Systems Co. . For more information about Online, contact Stan Baldwin at (800) 488-9320 or write to Online Mortgage Documents Inc., 1320 Willow Pass Road, Suite 300, Concord, CA 94596.
CONTACT: Online Mortgage Documents Inc.
Stan Baldwin, V.P., Marketing, (800) 488-9320
sbaldwin@stewart.com
or
For Online
Aaron Rosenthal, (404) 264-7204
aaron@williammills.com
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