BB&T Takes First Steps in Embracing E-Signatures

BB&T Corp. has opted to embrace electronic signatures on disclosures and pre-closing documents. The company has chosen the Secure Lending solution from Fiserv for its e-lending purposes. Using the Fiserv solution will enable Winston-Salem, N.C.-based BB&T, the nation's 11th largest financial holding company with $152 billion in assets, to more easily manage workflow with compliance best practices by tracking and retaining all versions of the Real Estate Settlement Procedures Act three-day disclosures and other pre-closing documents sent to borrowers. The Secure Lending solution electronically streamlines and manages the sharing of upfront loan disclosures with borrowers. BB&T seamlessly sends the documents from their loan origination system to the customizable secure eLending website, where borrowers view, electronically sign, print or download them. BB&T will soon have the ability to receive the electronically signed documents, and any unsigned versions, directly back into their loan origination system, where they are then transferred into BB&T's internal document repository. The electronically signed originals can also be stored in the Fiserv platform electronic vault. Additionally, with the Secure Lending platform's new expanded reporting, BB&T is able to see full details and status of documents that have been electronically distributed through the platform, at a loan pipeline level.