Technology in an eWorld

1
Technology in an e-World

• The New Landscape of Electronic Real Estate
  Transactions

2
Components of an eMortgage

• eDocs MISMO SMART Docs
• eSign eClosings SureClose, Silanis
• eNotarization Dig Sigs, NNA ENJOA
• eRecording Levels 1, 2, 3 (Data Docs)
• eRegistry Silanis ATRM, MERS
• eVault Silanis ATRM, Fannie Mae, Lenders
• eDelivery SureClose, MISMO ePackaging
• eQC, CDAC, Loan Package Closing Data

3
The State of eMortgages eClosings

• Legal
• - Federal ESIGN
• - Revised State UETA
• - UCC Article 9 Sec. 105
• - PRIA / NCCUSL URPERA
• Industry
• - Secondary Market/Investor Delivery
  requirements
• - MERS established as National eNote
  Registry
• - Industry Associations Standards
  (MISMO, EFSC/SPeRs, NNA, AEA, ALTA, NAR,
  etc.)
• - Implementations of e-Sig for loan
  application/origination, listing/selling
  agmts, purchase contracts, etc.
• - Increasing number of production
  pilots
• Technology
• - B2B eCommerce Standards (MISMO)
• - SMART Documents XHTML
• - eSign/eClose platforms and technology
  providers

4
eClosing Technology

• SureClose Transaction Management System
• Virtual Transaction Folder for all parties to a
  real estate transaction
• Web-based, ASP.Net Framework, C, SQL
• 25,000 sq. ft 15M State-of-Art Secure data
  center Full Redundancy, Clustering, Disaster
  Recovery, Nuetral 3rd Party Site and Co-lo
• Highly Secure Biometric Hand Scanners, Card-Key
  Access, Video Surveillance, Caged Security Rooms,
  24x7 OnSite Security Personnel

5
eClosing Technology

• Silanis ApproveIT Web Server for eSign /
  eApproval Technology
• eClosingRoom, stand-alone application fully
  integrated into TMS
• Security includes HTTPS, SSL, UID/PIN/Password
  combinations
• eSign technologies and processes include click
  to sign, electronic/digitized signature capture,
  PKI/Digital Signatures
• Supports both self-signed/issued digital certs
  as well as 3rd Party CAs

6
eClosing Technology

• Incorporates and supports industry standards
  such as MISMO SMART Docs and data standards, PRIA
  eRecording XML standard
• Maintains full electronic audit trail of all
  system and signing events on both transaction and
  documents to individual user level
• Provides authentication and validation tool for
  post-closing verification of e-signed documents
  to ensure document integrity
• Maintains and meets authoritative copy
  requirements and water-marking of certified
  copies

7
eClosing Technology

• Supports the electronic or digital signing of
  any and/or all real estate transaction documents
  not just closing docs
• Supports the electronic notarization of
  documents
• Ensures physical presence of notary with
  consumer at time of signing for any
  notary/witnessed documents
• Provides offices flexibility in choosing and
  designating certain documents as recordable
  instruments
• Supports concurrent signing for multiple parties
  
• Provides the capability to store and/or deliver
  documents to secure storage devices, CDs, etc.
• Supports multiple signature capture devices and
  processes including notebook/tablet PCs and
  future identified PDA devices

8
eClosings Stewart

• 2005 Rollout and Deployment plan for 30 Stewart
  offices around US (Primary metropolitan markets)
• 2 Offices in CA already implemented and to begin
  eClosings in Q105 San Diego (Carlsbad), and
  Irvine (Orange County)
• TX, NM, FL, MO, MI, Washington DC, CO, UT, and
  WA to follow
• MERS eNote Registry Integration in process
• Stewart eRegistry and eVault infrastructure
  planning, design and development in progress
• Corporate National, Regional and Local Legal
  Counsel review and due diligence in rollout
  markets and eClosingRoom legal and security
  compliance with SISCO CSO policies.
• Identification of metrics and benchmarks from
  e-closings from both title/closing offices and
  consumer closing experiences

9
Critical Success Factors for an ERDS

• Low cost barrier of entry for filers and
  counties
• Easy to implement and utilize
• Provide appropriate security for integrity of
  public records
• Easily Replicatable Model Consistent
  Implementations for all filers and county
  clerks/recorders
• Support and utilize recognized and approved
  industry data and technology standards
• Must be able to seamlessly integrate with both
  filer and county clerk/recorder systems
• Should support the receipt and delivery of both
  documents AND data
• Should facilitate automated, lights out
  electronic recordation receipt, eQC, imaging,
  indexing, cashiering/EFT, endorsing, and return
  delivery of documents and data

10
Thank You!Questions?

• Darren G. Ross
• Director of E-Commerce
• Stewart Information Services Corporation
• [phone]
• dross_at_stewart.com