Mortgage sector set to mainstream e-signatures.Document Systems, Inc. (DSI (Dynamic Systems Initiative) An umbrella term for a suite of Microsoft products that help manage the Windows environment in large enterprises. DSI was introduced in 2003. )ing developer of mortgage technology for compliant loan document preparation and customer contact management, reports that there has been a marked increase in the number of mortgage lenders seriously exploring electronic signature.
According to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Terry Van Bibber bib·ber
A tippler; a drinker.
[From bib.] , President of Safedocs, "the industry will see mainstream adoption of e-signatures in 2007."
DSI and Safedocs have an existing alliance through which the companies have been providing digital document work flow solutions and fully electronic mortgage closing packages to lenders for over a year. Van Bibber has been retained by DSI to consult with the company and its legal compliance department on electronic signatures.
"There is a great deal of piloting going on right now," Van Bibber said. "People are testing the waters. The number of lenders that are now in conversations about moving into electronic signatures has increased tenfold tenfold
1. having ten times as many or as much
2. composed of ten parts
by ten times as many or as much
Adj. 1. over this time one year ago. This convinces us that the industry will see mainstream adoption of electronic signatures in 2007."
Van Bibber said there are three primary reasons lenders have moved this issue to the front burner Noun 1. front burner - top priority; "the work was moved to the front burner in order to meet deadlines"
precedence, precedency, priority - status established in order of importance or urgency; "... now:
First, the business community now fully understands the legal aspects of electronic signatures. Secondly, the technology has now been proven and is in daily use by a number of companies. Finally, the industry pressure to cut costs is increasing and digitizing "Digitizer" redirects here. For the computer device, see Digitizing tablet. For the digitizer in Tablet PC's, see Tablet PC.
Digitizing or digitization workflows has been shown to be very cost effective. Taken together, Van Bibber says these three drivers will push e-signatures into the mainstream next year. "Lenders are very interested in this technology right now," said Don Iannitti, of Document Systems Inc.