Industry NewsTechnology

Companies unite for electronic real estate loans

EMortgage Alliance strives for mass adoption of mortgage technology

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Dave Williamson believes 2005 will bring about significant pilot projects dealing with electronic mortgages, or those that can be processed and closed without paper. And he predicts that those innovations will become even more widespread over the following two years. Investor acceptance may come about more slowly, Williamson said, but he hopes the group he chairs – the eMortgage Alliance – can help push the entire industry toward e-mortgages. The non-profit alliance, formed about two years ago, consists of 10 companies involved in the e-mortgage sphere of the industry. Four or five more companies may join by the end of this year, with even more expected next year. "If the adoption rate picks up, everyone stands to win," said Williamson, who also is SVP of The Performance Group, a consulting firm that joined the alliance in 2003. Current members of the eMortgage Alliance include DocuTech, Encomia, LendWare, The Performance Group, Rekon Technologies, SwiftView, U.S. Recordin...