Encomia, Houston, and Ingeo, Logan, Utah, have both joined the eMortgage Alliance, a consortium of companies and experts dedicated to delivering all-electronic mortgage systems.Encomia will provide technology to implement digital signatures, electronic closing, and so-called electronic vaulting -- which provides for the storage and retrieval of electronic notes and other supporting documents -- while Ingeo delivers the last link in the chain: electronic recording. The eMortgage Alliance was founded by DocuTech Corp., Idaho Falls, Idaho. The alliance unites the capabilities of DocuTech, Wave Systems, VirPack, SwiftView, Rekon Technologies, and The Performance Group to enable customers to produce e-mortgages. Members each specialize in and automate separate steps of the e-mortgage process, including the creation of SMART (securable, manageable, archivable, retrievable, transferable) documents and electronic signing, packaging, messaging, closing, recording, and vaulting.
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The partnership was designed to support the growth of Redwood's Sequoia platform and give Castlelake purchasing power for fully documented loans.
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