eClosing Overview

Brian Boike
Flagstar Bank

MISMO Trimester Meeting

1
Jan 25 - 28, 2010 Jacksonville, FL
 eMortgage Process Flow
PRIA
Key:
MISMO
Legal eDocs
(Land records,
tax liens, other eRecording Servicing
External
docs/affidavits
Docs
)

eOrigination Secondary
eDoc
eDisclosures & eClosing Investor,
Prep
Underwriting Aggregator

eDocuments
eSignatures
Service
eNotarization E- E-
Ordering:
Vault Vault
Credit
Buyer Seller
Flood
Hazard eNote Data, Messaging & Control
Title
MI MERS® eRegistry
(National eNote Registry)

MISMO Trimester Meeting

2
Jan 25 - 28, 2010 Jacksonville, FL
 eClosing
PRIA
Key:
MISMO
Legal eDocs
(Land records,
tax liens, other eRecording Servicing
External
docs/affidavits
Docs
)

eOrigination Secondary
eDoc
eDisclosures & eClosing Investor,
Prep
Underwriting Aggregator

eDocuments
eSignatures
Service
eNotarization E- E-
Ordering:
Vault Vault
Credit
Buyer Seller
Flood
Hazard eNote Data, Messaging & Control
Title
MI MERS® eRegistry
(National eNote Registry)

MISMO Trimester Meeting

3
Jan 25 - 28, 2010 Jacksonville, FL
 eClosing Components
• Participants
• Platform
• Process

MISMO Trimester Meeting

4
Jan 25 - 28, 2010 Jacksonville, FL
 eClosing Participants
• Borrower
• Seller
• Loan Officer/Lender
• Settlement
– Title
– Escrow
– Attorney
– Notary
MISMO Trimester Meeting
5
Jan 25 - 28, 2010 Jacksonville, FL
 eClosing Platforms
• Build
• Buy
Technology System Providers Integrated with MERS
eRegistry (MERS, 12/2/1009)

In Production In Integration
Digital Docs Silanis

Stewart MBMS
Encomia Signia Docs
Fiserv Docuprep
Settleware Wolters Kluwer
WAVE
Xerox

MISMO Trimester Meeting

6
Jan 25 - 28, 2010 Jacksonville, FL
 MISMO Trimester Meeting
7
Jan 25 - 28, 2010 Jacksonville, FL