Growing Pressure from Consumers and Regulators Forcing Transformation of eMortgage Industry

eOriginal Moves to the Forefront of Digital Evolution with new eMortgage Platform

ABS EAST CONFERENCE, MIAMI BEACH, FLA. — eOriginal, Inc., the experts in digital transactions, today announced a fully electronic, disruptive mortgage platform. As increased pressure from consumers and regulators continue to push the mortgage industry to evolve, eOriginal has placed itself at the forefront of the transformation into an eMortgage industry.

eOriginal has spearheaded the collaboration of several integration partners to deliver a fully digital process that includes eNotarization, eRecording, eWarehousing, eCustodian services and integration with Mortgage Industry Standards Maintenance Organization (MISMO) compliant SmartDocs and Forms. MISMO is a not-for-profit subsidiary of the Mortgage Bankers Association (MBA).

Ahead of the mortgage technology adoption, eOriginal pioneered the first all-digital paperless home purchase and mortgage transactions in the United States in July of 2000 through a patented process. The entire home-buying process — closing the loan, recording the documents and delivering the package to the secondary mortgage market — took less than three hours to complete.

With the market now ready to support the use of fully digital loan processes, eOriginal currently enables eMortgage with a Top 3 financial service technology provider, which has integrated eOriginal’s SmartSign® Web eSignature platform and eAsset® Management Services within its mortgage loan origination and loan services applications.

“eOriginal is and has been ready for end-to-end digital mortgage for more than 15 years,” said Stephen Bisbee, CEO and president of eOriginal, Inc.  “Now that the marketplace has caught up to us, we are excited to see how our eMortgage platform will empower marketplace lenders and lending industries – providing consumers with anticipated innovation and supporting the requirements of regulators like the Consumer Financial Protection Bureau.”

Well-designed for disruptive lending markets, eOriginal already is delivering its lending and asset management platform to the student loan, vacation ownership and vehicle finance industries, among others.

Within the MBS segment of the vacation ownership industry, eOriginal partnered with DocuSign and Informa Software to bring Westgate Resorts an all-digital mortgage-based Timeshare System. Westgate Resorts’ Timeshare System has enabled this leading resort company to become digitally integrated throughout their entire business processes—from sales presentations to loan origination, to consumer contract execution, to sale and mortgage closing (including eNotarization and eRecording) to interim/warehouse lending. Moreover, its first rated securitization scheduled for 2015 and it now has access to secure vaulted management of all documentation and signed contracts and loans.

Similar to home mortgage, Westgate maintains an end-to-end process for deeded property ownership that requires meeting jurisdictional regulations and standards.

“We are confident that the implementation of digital transaction management will not only accelerate and control our business processes, but also increase our profitability and financial backings for the future,” said John Willman, treasurer and vice president of mortgage services at Westgate Resorts.

Integrated with eOriginal’s eAsset Management Platform and the newly released DatalyticsTM solution, the eMortgage platform will empower greater data transparency, better analysis and regulatory compliance capabilities throughout the mortgage loan process.

Driven by the need for detailed, real-time monitoring in support of eOriginal’s fully electronic mortgage solution, Datalytics allows users to monitor and analyze data to empower faster response time to audit requests and prevent errors and resubmissions. The solution provides a full chain of custody for data and documents across the loan process at the asset-level, which will provide an unprecedented level of insight and due diligence while saving time, reducing risk and decreasing costs.

Attendees of the 21st Annual ABS East Conference in Miami Beach, FL, can discuss end-to-end eMortgage with Jim Tebay, eOriginal’s vice president of business development, at 3:15 p.m., Thursday, Sept. 17 at the eOriginal booth (No. 58). To schedule an individual meeting at the conference, visit:

Additionally, Bisbee will serve as a panelist on the “Marketplace Lending 101” session at the conference. The session will take place at 1:50 p.m. EST on Wednesday, Sept. 16, as part of the Track B sessions.