DALLAS (Mar. 17, 2008) – Stewart announces plan to deploy electronic closing capabilities to a significant number of Stewart Title closing locations in 2008.
Stewart, a leader in electronic closing technology, has successfully deployed their innovative eClosingRoom™ technology, incorporating Stewart's patent-pending process for the electronic closing of a real estate transaction, to numerous locations and will continue to aggressively deploy Stewart closing offices with the technology and infrastructure necessary to facilitate a completely electronic closing.
"A number of vendors have previously attempted to offer electronic closing options to the industry. Unfortunately, these offerings have fallen short in their ability to provide the closing staff and locations with the expertise and tools necessary to execute an effective electronic closing," said Jason Nadeau, senior vice president Stewart eMortgage Solutions, a division of PropertyInfo Corporation, a Stewart company. "Stewart's network of nationwide closing locations, combined with our innovative technology, will provide the first complete electronic closing in compliance with applicable regulations."
"Throughout 2008, Stewart will be aggressively upgrading closing facilities with tablet PCs, touch screen closing stations and multimedia projectors," Nadeau continues. "Once completed, Stewart Title will possess the largest network of electronic closing enabled offices in the nation. In addition to these infrastructure upgrades, Stewart closing personnel are becoming authorized electronic notaries, allowing for those documents that require notarization to also be signed electronically at the closing table."
"Stewart is committed to the deployment of our eClosingRoom technology throughout our closing office locations." said Stewart Morris Jr., president and co-chief executive officer of Stewart Information Services Corp. "When moving to an electronic closing experience, it is critical that you have an experienced professional guiding the buyer through the process, and we believe that no organization has a more dedicated and professional staff than Stewart. Our new eClosingRoom enabled offices will be a showcase of innovative technology and dedicated professionals."
"Electronic closings and eMortgage technologies offer the greatest opportunity for our industry to significantly improve the entire lending and closing process," added Nadeau, "Stewart is leading the industry and we are building the premier network of electronic enabled closing agents."
Stewart's eMortgage suite works in combination with the new eClosingRoom enabled offices by providing document sharing and collaboration between all parties enabling electronic closings in the network of offices, storing the documents in an electronic vault, electronically registering the loan with Mortgage Electronic Registration System® (MERS) and electronically delivering the loan documents to the investor.
About Stewart eMortgage Solutions
An innovator in eMortgage solutions, Stewart provides lenders with a complete eMortgage solution suite including electronic disclosures, document sharing and collaboration between all parties, electronic closing technology, a network of electronically enabled offices, electronic vaulting, electronic MERS registration and electronic investor delivery of loan documents. For more information, visit www.eClosingRoom.com or e-mail eMortgageSolutions@stewart.com.
About PropertyInfo Corporation
Stewart eMortgage Solutions is a division of PropertyInfo Corporation, a Stewart company. PropertyInfo delivers state-of-the-art real estate information solutions to the real estate, closing and mortgage industries. As a global provider of online transaction management and e-closing solutions, real estate information services, title/escrow production systems, hosting services, software development and online product distribution via its Web portal, PropertyInfo.com, PropertyInfo provides title and real estate professionals with the electronic data and integrated applications needed to increase their business efficiency and improve the quality of information used throughout the real estate transaction process. For more information, visit www.propertyinfo.com/ or e-mail firstname.lastname@example.org.
PropertyInfo Corporation and Stewart Title Co. are wholly owned subsidiaries of Stewart Information Services Corp. (NYSE-STC), a customer-driven, technology-enabled, strategically competitive, real estate information, title insurance and transaction management company. Stewart provides title insurance and related information services required for settlement by the real estate and mortgage industries through more than 9,500 policy-issuing offices and agencies in the United States and international markets. Stewart also provides post-closing lender services, automated county clerk land records, property ownership mapping, geographic information systems, property information reports, flood certificates, document preparation, background checks and expertise in tax-deferred exchanges. More information can be found at www.stewart.com.