eOriginal Offers Proactive eSignature TILA Response
Electronic Signatures Reduce Closing Delays and Enable Straight-Through Processing for Loan
Officers
Baltimore, MD (Vocus) March 22, 2010 -- Mission Hills Mortgage Bankers, a California-based mortgage bank,
made a proactive initiative to avoid a three day wait for the delivery of disclosure documents that would have
been imposed by last year's Truth in Lending Act (TILA) amendment known as the 3/7/3 Rule. To prevent this
ruling from delaying the loan origination cycle, increasing costs and potential closing delays, Mission Hills
Mortgage Bankers’ IT staff began a competitive evaluation of web-based electronic signature solutions that would
enable loan officers to use straight-through processing. Mission Hills Mortgage Bankers selected eOriginal
SmartSign® on the basis of compliance, ease of integration and total cost of ownership.
"The implementation went in without a hitch”, notes Collin Cobb, Mission Hills Mortgage Bankers’ Marketing
Manager, who oversaw the training of loan officers. “Mission Hills Mortgage Bankers makes a big effort to set
itself apart from its competition by combining our proven business practices with new innovations."
"Mission Hills Mortgage Bankers joins an impressive group of financial services firms that went through a
rigorous selection process before selecting eOriginal because of our compliant e-signing tools and vaulted
repository services to better manage the lifecycle of the electronic transactions,” notes Steve Bisbee, eOriginal's
President and CEO. Increasing regulatory, security and audit compliance initiatives, and the desire to protect the
asset value of transactions that might enter the secondary market, make eOriginal a strong player in risk
management.
About Mission Hills Mortgage Bankers
A direct lender originating loans throughout the nation, Mission Hill Mortgage Bankers is a division of Gateway
Business Bank. Founded in 1969, Mission Hills Mortgage Bankers is one of the top privately owned mortgage
ban