ATLOS | Loan Document Imaging Mortgage Electronic Document Management

Why us electronic signature?

The answer to that question is self evident to anyone that has used a computer to improve their life.

As a mortgage professional you seek any and all methods to decrease the time it takes to close your loans. Why wait day waiting for your client to print out documents, sign them all, and then fax or worse yet snail mail them back to you. Then what do you do with those files? Your forward them on to a lender, title company, realtor, appraiser, or a combination of places. How much time is lost in that process?

Not only is time lost but how much quality of the original documentation is compromised in that constant process of printing, scanning, printing, and faxing? This is the prime reason that mortgage companies should consider the benefits of using an electronic signature process from an e-signature provider.

Time and quality are one thing. But what about integrity? With the traditional method of document contract processing if you are not there to physically witness the signing of the document or contract then how do you know the person signing has not altered it in some way prior to signature? Worse yet what if your client later denies having ever signed a particular disclosure, contract or document. Short of a professional investigator trained in reading signatures how would you know for sure that your client is the one that signed the document? ATLOS electronic signature process can solve both of these problems!

As if any added benefits are needed, another timely reason that mortgage companies are embracing electronic signature technology is to save the environment. For one loan package run through ATLOS electronic signature process you can save hundreds of sheets of paper that would needlessly be printed. Using this technology allows you to embrace the future and decrease your green footprint which is something that your clients and your colleagues alike will respect.

The concept itself is not new, with common law jurisdictions having recognizing telegraph signatures as far back as the mid-19th century and faxed signatures since the 1980s

ATLOS electronic signature process

electronic signature

Electronic Signatures are any electronic means of allowing a person or organization to accept the terms of or enter into an agreement without a physical mark.

Organizations choose electronic signatures for many reasons

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Among them:

Workflow Efficiency - It’s faster for someone to click a button or enter a password than to route a document to them through interoffice mail or courier.
Save Money - By going electronic, you eliminate the cost of paper, printing, and courier services.
Document Integrity – Organizations publish vast amounts of material to the internet, but are now becoming increasingly concerned about what happens to those documents in the wild. It’s critical to reputations and revenue that documents are not modified to create a false or fraudulent impression of the organization.

You’ll notice that many of these reasons mirror those that accompanied the rise of the electronic document and form in the first place. This is not accidental... electronic signatures are a natural extension of the movement to electronic documents. Many companies have gone fully electronic only to come to the signature step and require customers to print out documents which are signed in wet ink and then sent via the mail to be re-entered into a system. This is neither efficient, nor timely, nor a good use of resources. Electronic signatures, at their core, represent a vital way to leverage a company’s assets and increase savings based on key technology investments.