Today’s growth-minded companies are leveraging digital transaction management systems to reduce cost and increase efficiencies in the loan origination work flow process. SecureClose’s digital transaction validation platform goes beyond a simple signing solution. It is an entire end-to-end digital transaction solution that ensures every transaction completed is legally compliant, securely stored and audit verified as the authoritative original. SecureClose’s process of storing, transferring and assigning the asset, are maintained in a compliant environment. Unlike other companies, SecureClose’s multimedia guided disclosures, present the actual contracts and other documents for the customer to electronically sign, in the language of their choice and ensures that each document disclosed is presented in a compliant and understandable manner. When completed, this record is used as part of an audit trail to verify the document’s authenticity as the only and irrefutable original that exists and that all parties understand and agreed to its content and enforceability.

These secured processes are necessary for securitizing and collateralizing any asset requiring Article 9 enforceability for UCC filings in today’s financial market. The SecureClose process allows end users to manage these assets in a secured environment that maintains their integrity, while assigning administrative rights in varying degrees to other controllers. These controllers, such as lenders, investors and auditors can be given rights that will not affect the enforceability of the originals. Digitally signed contract should follow a similar path as paper contracts would during the contract term. The authoritative Original is watermarked as such, and easily identifiable in the same way the document would be in a non-electronic transaction.

The non authoritative copies produced in SecureClose are also clearly identifiable, watermarked with “Copy.” Both the Original and Copies have the secured parties assigned as the assignee of record printed or stamped on them. With a Paper contract, any required changes or amendments require a completely new original or an attachment to the original identifying the changes. With SecureClose, the digital contracts follow the same process, but maintain a secure audit trail during each step along the way to provide deeper insight throughout the life of the document. From origination, the signed documents produced in SecureClose are not only watermarked, but also date and time stamped when each signature is applied. As with paper contracts, any digital amendments to the SecureClose documents are identified as authorized or unauthorized changes to the digital original by the audit seal. Any third party that is granted access to the Authoritative Original file or Copies of the documents can receive them by email or by download from the vault directly with authorization from the secured party. These secured processes are integral to managing your assets after origination to maintain their authenticity until the contracts are either sold or termed out.

At times, these assets will need to be transferred from one secured site to another. SecureClose’s transfer settlement process (TSP) enables assets (with their verified encrypted seal as the signed authoritative original) to be transferred, sold or claimed by another authorized party. These actions utilize a system that tracks and maintains the status of the original during the process until it is received by the receiving party.

SecureClose’s Validation Seal allows other parties to feel secure that the asset they acquired is the single and verifiable original and is backed with the SecureClose Closing Record if the validity of the document is every questioned. With Secureclose you can assign all parties the full audit trail that includes the verification seal and Closing Record video or just the seal. Challenges to the enforceability of the contract becomes a thing of the past in court when irrefutable proof of what was actioned and disclosed at the time of origination are supported by the Closing Record.

The SecureClose Claim process enables the transition from a digital contract to an enforceable legal paper contract with all necessary records. At some time all contracts expire and are not enforceable, that doesn’t mean we won’t need some type of record or copy in the future. SecureClose can supply end users a history report on all inactive contracts and when they were removed for years after the contracts expired. SecureClose combines the presentation of compliant legal disclosures with electronic document presentation, E-Signature, and document and record storage.  Employee negligence, mis-statements, missing signatures, and “he said – she said” disputes are a thing of the past!

Sincerely,

Ace Christian