Document Processing Systems today released the DPS eMortgage Studio, a mortgage processing system that recently provided the technology to complete a truly paperless, digitally-signed and electronically MERS-registered eMortgage.
The DPS eMortgage Studio provides a secure Web-based work environment that is used to electronically create, execute, register and store all documents for a settlement.
The system includes three interconnected modules:
- The DPS eMortgage WorkSpace is the online document preparation collaborative environment that hosts all parties including lenders, title agents, borrowers, sellers and attorneys.
- In the DPS eMortgage Closing Table, digital signing technology and embedded process controls eliminate “wet” signatures, while automatically enforcing pre-determined rules to ensure consistency and quality control.
- The final module is the DPS eMortgage Repository that allows for secure document delivery, storage and retrieval throughout the life of the loan. The electronic repository eliminates all costs associated with handling and delivering hard copies of the loan including fax, courier or postage charges.
The patent-pending Electronic Mortgage Document Management system is fully connected to the MERS eRegistry. The company has registered an eNote with MERS, making it official and saleable on the secondary mortgage market.
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