OneSpan is Bringing out-of-the-box Automation to Mortgage Lending

mortgage automation

In an industry where mortgage automation has traditionally been tough to achieve, OneSpan — a scalable corporate digital signature solution company — is doing its part to close the gap by assuring legal control of the authoritative copy during its creation and storage as well as during operations for sale, syndication and securitization of loans and leases. The OneSpan Sign solution is an out-of-the-box e-signature solution that can be integrated into apps. For the mortgage and lending industries, OneSpan’s Vault solution provides a single platform solution that fully automates the signing, closing and vaulting of digital assets. Through OneSpan’s Vault platform, users:

    • Deliver disclosures and loan documents for signing on any device
    • Review and notarize closing documents and transfer them to an electronic vault
    • Securely manage, track and store the authoritative, electronic original copy of loans and leases in a vault

OneSpan eliminates manual processing and related errors and costs by digitizing every component of the closing and vaulting process.  Highlights of OneSpan’s Vault for Mortgage and Lending:

    • Accepts e-signed records from OneSpan Sign and other e-signature systems
    • Ideal for use by lenders, document custodians, servicers and investors
    • Supports transfer of ownership and location
    • Administration console for managing, pooling, searching and auditing electronic records
    • Authoritative copy is stored in its native format
    • Support for multiple e-vault databases on a single registry, allowing segregated storage for multiple lines of business
    • Supports the TOLEC standard for vault-to-vault transfers
    • OneSpan is a MERS- and Fannie Mae-approved eMortgage technology solution provider

Together with OneSpan Sign, OneSpan Vault enables the signing and closing of loan packages. This includes receiving and securely storing final documents and audit trails, managing and tracking the ownership and chain of custody of documents throughout the lifecycle of the loan, and transferring notes and contracts to other funding entities.