Updates & Announcements
ICE Mortgage Technology Launches New Electronic Signing Solution Enabling Simplified Notary Experience
Simplifile® eSign Events offers greater flexibility supporting IPEN and RON capabilities ushering the advancement of full remote signing
PLEASANTON, Calif. – October 13, 2021 – ICE Mortgage Technology™, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced the launch of Simplifile® eSign Events, a new electronic signing solution that supports unlimited eSigning of digital documents and eNotarization. eSign Events offers agents in the Simplifile network a streamlined signing workflow, including In Person Electronic Notarization (IPEN) and Remote Online Notarization (RON) which will ultimately lead to full eClosing capabilities.
“Despite consumer demand for a more digital mortgage experience, we’re still seeing confusion among agents who are trying to make technology decisions based on a myriad of partial solutions that claim efficiencies, but in reality, lack true eNotary acceptance,” said Joe Tyrrell, President of ICE Mortgage Technology. “Simplifile eSign Events actually delivers both the efficiencies and the experience that agents have been looking for, by providing not only a tool that has flexibility built into the customer’s signing needs, but also a single experience, so they can do it all from one secure, consistent place.”
Powered by Simplifile’s eEligibility data, eSign Events provides insight into eNotary acceptance and provides notarization flexibility at the county level. The electronic signing solution supports both agent-driven transactions, such as cash and seller, and will enable lender driven transactions via integration APIs for ICE Mortgage Technology’s eClose partners.
The MISMO-approved eSigning solution will offer seamless verification via mobile devices, unlimited eSigning for a low monthly fee, easy access to RON video recordings, plus access to counties that represent nearly 90% of the U.S. population that allow eRecording of documents. By having eSign capabilities embedded into RON and IPEN, it also provides support for state specific requirements, teleconferencing options eliminating the need for signers and notaries to be in the same location, and offers an extra layer of security by using Knowledge Based Authentication and Automated ID Verification.
Benefitting All Parties
- Settlement Agents and Notaries: The standardized platform and workflow offer secure ID validation, video recording, access to the Notary’s journal, and a complete audit trail. It also offers insight into eNotary acceptance at the county level resulting in more control over the signing and closing process, including the ability to edit signature tags on the fly, resulting in faster closing and recording as well as reduced costs.
- Lenders: The solution offers faster, more convenient remote eClosings making it easier for notaries and settlement agents to deliver a better borrower experience. The eSign Events platform is open to any eClose provider via APIs. eSign Events will be the RON provider for Encompass® eClose, allowing settlement agents to continue to work in Simplifile to fulfill eClosings for Encompass lenders. Encompass is the industry’s most-recognized loan origination software.
- Signers and Borrowers: Simplifile eSign Events gives consumers the flexibility to electronically sign documents anywhere and participate in the scheduled notary session for witnessed documents which speeds up the closing process.
Simplifile is offered by ICE Mortgage Technology, part of ICE (NYSE: ICE), a global data, technology and market infrastructure company that designs, builds and operates digital networks to connect people to opportunity. The ICE Mortgage Technology eClose product suite also includes lender-facing solutions such as Encompass eClose. The leading end-to-end closing solution meets lenders where they are by being one partner, one workflow, one source, and one network for our customers. The all-in-one ecosystem eliminates the need for multiple systems or providers, which can lead to confusion and inefficient processes. Instead, our solution is on one platform, which in turn, creates simplicity and ultimately a faster, easier homebuying experience. This continued commitment is what will lead the industry forward into fully automated mortgage experiences for all.
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ICE Mortgage Technology combines technology, data and expertise to help automate the mortgage process, from consumer engagement through loan registration, and the steps and task in between. ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the mortgage industry, with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring high levels of compliance, quality and efficiency. Visit icemortgagetechnology.com or call (877) 355-4362 to learn more.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
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Source: Intercontinental Exchange