Transferable Records Management
Transferable Records Management (TRM) is designed to enable the control of electronic assets in accordance with Uniform Commercial Code (UCC) requirements for the creation, sale, pledging, pooling, syndication or securitization of Authoritative Copy documents.
Transitioning to electronically signed financial instruments in the highly regulated and risk adverse financial services environment make the vendor selection process challenging. Additionally, the inherent requirement to provide a "better than paper" evidentiary solution when deploying an electronic signature application means selecting a proven, experienced provider is a must! Separating what vendors promise and what they can deliver is critical to a successful implementation, user adoption and ultimately, the customer experience and the valuation of your organization's assets.
The vendor selection challenge is much easier when you realize that eOrignal's solution has been deployed by the largest financial institutions across a broad range of financial instruments to create, assign, transfer and securitize Authoritative Copies of Transferable Records. We do it every day and have done it millions of times for billions of dollars without a system failure or successful legal challenge.
Benefits
- Originate loans, notes, leases or retail sales installment agreements.
- A solution approved by the secondary market credit ratings agencies, such as Standard and Poors.
- Technology and processes approved by issuer’s counsel.
- Sell, syndicate or securitize loans in the asset backed securities (ABS) or mortgage backed securities (MBS) markets.
- Satisfy the six requirements for transfer of control/ownership as specified in UCC Article 9 Section 105.
Features
Authoritative Copy Management
The six requirements for managing electronic chattel paper and other transferable digital assets include the ability manage a single authoritative copy that is unique and readily identifiable. The TRM identifies the secured party for the record and implements controls required to enable transfer and identifies all non-authoritative copies from the original, all in compliance with UCC 9-105.
Transfer of Custody
Organizations often need the ability to transfer electronically signed documents to new custodians. The ANSI X.9 TOLEC standard was developed to provide an automated, verifiable process to migrate documents between two trusted repositories. The process enforces secure handshakes between the repositories, encryption, and document integrity verification on both ends of the transfer.
Transfer of Ownership
Authorized users can facilitate the transfer of control of an Authoritative Copy between parties. The transfer process is defined by an offer, acceptance and confirmation. At each step, the buyer or seller may elect to reject or cancel the transfer. All actions are captured and logged in the secure document audit trail.
Batch Processing
Users often need to operate on a collection of transactions and documents. The TRM enables authorized users to locate multiple transactions or documents and perform a transfer of ownership or transfer of custody on the collection. Batch process facilitates securitizations, syndication's or pledges of digital assets between multiple parties or special purpose entities (SPEs).
Next Steps
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888.224.6404
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