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hello everyone and welcome to the IDS e-sign webinar series featuring the IDS e-sign platform thank you for attending both clients and those looking into IDs just a few items to begin sorry about the confusion if you were not able to make the first session we're glad you could make it to this session we were just up against the maximum number of attendees so appreciate you tuning in also this webinar is being recorded and will be placed on the IDS resources page that is a new page to the IDS software available at the top menu once you've logged in if you don't have access to the software you can contact us and we can get you the ability to see this webinar when it's posted after being recorded we will go through the presentation and at the end there will be a question and answer period where we will answer some some live questions so please we encourage you to fill in on your meeting question panel you can put in a question by text or at the end we'll see if we can open up the microphone for anyone who wants to ask a question we will begin with talking a little bit about e-sign in general and we will first go ahead and throw up this pole and give you an opportunity to fill out these first few questions okay well just give it a few more seconds for you to answer there and be and while we're waiting for everyone to come in before we get started on the actual east side platform let's let Matthew speak concerning a little bit of the benefits of e sign in general just to give matthew an introduction Matthew Mackey is the Director of Sales and Marketing here at ids also the north eastern regional representative and he has been in the mortgage industry for 20 years with lots of experience on how things have changed so let's get Matthew tuned in here thanks Tyler now getting into some of the benefits of the ids e-sign platform on this first slide just kind of outline cost savings time savings compliance savings so the first thing right out of the box is how is this process going to save you money now obviously with cost savings if you're going to be assigning your documents you're going to as opposed to the standard fulfillment back fulfillment room we're going to save you right out of the gate off of the postage that's going to be the number one cost saber we do fulfillment in our office as well for clients that want to use our design process and don't want to deal with that anymore and along those lines in the event a borrower doesn't see sign the package we can take care of that for you but we know from doing that for thousands and thousands of document packages every month month after month that postage is the biggest cost on top of that you've got the paper the printer the toner the ink the maintenance of those different machines the envelopes that go along with the package not to mention all the office space and if you look here at our example you go in and do a hundred initial disclosure packages that's the kind of cost that you're looking at on top of the cost savings you also have the borrower's expectations recent article that I found from the US Postal Service shows that personal letters that are a record low and people are using the post office less and less than they ever have before for the number of people that we have in the country kind of interesting the borrower's expectation now is that they want an automated process they're not going to their mailbox to look for the different forms that are going to be coming to them they're going to their email box and looking to sign things immediately it's not in three days that they're interested in it's in three minutes that they're interested from there the next thing that's a major toll in your company is the compliance and the compliance comes out in a few different directions first off you have your full time compliance officer salary costs the benefits package the actual office space that they're going to be taking up as well the hours of research that goes into keeping the packages that you're sending out in a structured platform where things are going out in a timely manner making sure loan officers are getting packages to the borrowers within 72 hours meeting all of your different deadlines there's been major disclosure changes in the last five years as well the mediated timing requirements that went into effect July thirtieth 2009 we've changed the forms many many times not just on a federal level but on the state level and the compliance on a state level is just so difficult to come up with we see a lot of the lse's that struggle for that but that's something that we're we're doing this for so many different customers all over the country that we can put a lot of resources on that on top of that this these changes they're not going to be stopping anytime soon we have upcoming compliance reform the rest petilla disclosure effective August 2015 that you're going to have to worry about and the next piece of dodd-frank legislation that will worry about after that is going to have an effect so now let's uh segue to the IDS platform so let's begin with the IDS cease I'm process to begin with I will log into a test account house a username demo and then with my IDs password and from here we'll make the assumption that the doc package has already been pushed across from the LS and I'll go ahead just jump into a test file since most of the elois interfaces are different but all the files come across the idea is the same and assuming that information was correct I am brought to the audit and order screen where I can choose to have my documents assigned whether it's going to be a full package or specific Doc's initial disclosures e-sign fulfillment delivery method before I get to that point though i'll have my audit down below this is the IDS audit legend that we have this goes over stop audits this would be a fatal exception audit if you're coming into the system we won't be able to send you your documents back we don't know what type of loan this is or there's some critical information that's missing then we would stop you there and require that information to be resolved before we can move on any further underneath that we have critical audits so this loan is a refinance transaction wives have owners title insurance and things that would need to be corrected under that we would have warnings and then more informational as well as this loan pasts the higher-priced mortgage test this loan passed the QM test the state tests any of these different types of tests that you would have and you know our system does have the hope of the rest both Attila the madea the HTML the till ap our test state high cost points and fees test state high cost rate test for cities and county tests that we have plugged into the system there's the GSC high costs fees and rate testing the net tangible benefit analysis fees that cannot increase the settlement closing tests rescission period check state checks and there are also loan programs and specific checks on top of that all the different audits that come out of the box from IDs can also be highly customized based off of what the user or lender wants in the system as well and then we come to you know assuming all this information was correct I didn't have to maneuver through the different screens and I was ready to order the doc package I would just want to make sure my credentials were interred to get in here correctly my email address so that i can make sure i'm getting back an email based off of what the parameters are that I've set up it's going to come to my email account for this test experience my name and information here I wanted the document sent to the web we could pick them up there as well if I want a email receipt when a title company or whomever I might forward this on to want the documents to be signed any of those options would would be available as well but since we're specifically working on the whole e-sign process I'm going to order the initial disclosures make some of those other package options a little bit obsolete because we're going to select the e sign method for our demonstration today I do have a consent options which the beginning part of a sign is going to go through the e consent or I could select none of these but again for today we'll go ahead and just leave it as a sign and then we have the fulfillment delivery method which of course we're going to eat as close but if we wanted to work with some other options the IDS has such as us mailing if we're doing your paper fulfillment or self disclose if you had the borrower there in your presence you're going to mail that automatically we could do that or we can eat disclose or if we're going to eat as close a minute by chance you don't get your package signed by the bar we can mail that out that's another option but for our purposes again I'll just eat is closed and then I have options down below that I can include a full package which is what most people would normally do or I can choose the specific docks so based off what I have in my test file these are all the documents I would be getting back I'm going to go ahead and just show you that you can uncheck those all if you want to just check one document or again check them all or if we just had a certain package type that we wanted to order like Matt's test package I can select that and then I could get back the documents that i have selected here looks like there's eight of them there and so from here I'm ready to go ahead and order my document package and so I'll go ahead and click on order docs I can see it's ordering that right now it shows the status in the order status showing that it's compiling each is he going to take about 15 seconds or so give or take a few depend on the size of the package time of day time a month so here's this package coming across it's now at fulfillment and when we see the little East symbol will know that that's been fulfilled and that the emails have been sent out to the different borrowers that we have on the loan as well as a loan officer and so that event has occurred now so from here I can click on this to go to the e sign room but just where I want to show you all this on my computer i'll go ahead and actually open up my email account pull up the different emails and I'm receiving so I have one for the loan officer and one for borrow one and one for borrower to and those call all our generate at the same time so it's just a matter of when your isp's delivering what the order is as they come in so from here I'll go ahead and just show you how we've got the company logo we're just using the IDS logo right now but we could stick your company logo here as well as the borrower's name so instructions on how to go through and sign the documents and then the link so if I go ahead and click on the link it will open up the browser of my choice my preferred browser and ask me for my login credentials and obviously we're doing this to validate that the borrower is who they say they are as well as make sure that the information has been entered in here correctly we're taking this all off of the 1003 application and the data entry that flows across typically from your LS or if you're coming IDs and entering it by by hand into our system and four of the five pieces of information are needed but whatever is put into the system has to be entered incorrectly so I've got four out of five pieces there I'm going to go ahead and validate the dead data and making the assumption that that's correct which it is it brings me along into the electronic signature disclosure and consent agreement and essentially this is the document that will give us consent and allows us the legal course to have the borrower e-sign and so once they consent then we can assume that consent is given and they can go ahead and agree and continue they don't have any browsers or accuse me additional software tools that are needed like Adobe this is all HTML based multi browser compatible if they can read this they're going to be able to read it fine in their system because it's not going to ask them to open up a PDF or similar type of document word document whatever the case might be so we can go ahead and click agree and continue and again at this point I have consent an email is being generated and then sent to the loan officer as well letting them know that borrower one has started the signing processes and and has consented to receiving the documents this way from here i have my instructions to the borrower shows them how to sign and click ensign go ahead and click ok and then the documents that the borrower needs a sign will show up once the borrower clicks on the first document instructions will be brought up again this time overlaying the document when we click ok we'll have the document along with some navigational tools can jump to the next signature and view the next document to be signed or we can close out and the signature items remaining just one on this particular document down the bottom right hand corner we show the number of documents that are going to need to be click signed and if any are required to be wet signed or or printed out will show how many of those are available as well again I just ordered seven documents for the ease and going through in the demonstration so we don't have to spend all day going through for both the different bars I've got print options over here as well and help options if by chance i clicked out and brought to the screen before so i can go through that again i can do that anytime in the process and jump back in from here our welcome letter title at the top you can jump down to the signature again with a navigational item click on that it's going to dump in a font signature and then we can view the next document to be signed with my 1003 it's going to require three different signatures which shows down here in the bottom left hand corner you can already see the one document has been signed and I'll go ahead and click and sign complete that document and get ready to move on to the next signature item that's required I can scroll down on the document to find it or i can jump to the next signature line and click and dumped in my signature again and when I'm all done with this particular document it will give me the option to view the next sock document and again now we have two of our seven completed now with the next document to borrower certification authorization I'm sure most of you recognize this form this is a document that needs to be printed out and physically signed while we can't verify that your printer is working correctly or that there's toner in the printer or paper in the printer we can see that you're going to least attempt to do this print job when you click OK and so we'll just make that assumption and then come back and document is assumed printed at this point so will view the next document it's a good faith estimate can scroll down through that this is a document that doesn't need to be signed and only needs to be reviewed so as soon as I get to the bottom of the text it will show that I'm able to acknowledge the current and go to the next document so good faith estimate provider provided relationships click and sign that and I'm just moving right along now you see the barcodes as well in the documents so if you have some imaging software that we're needing to interface with we can help set up the bar code of your choosing that would be able to bring those forms into your imaging systems that you keep track of a Mac after the place this is just a wet signature separator page that we can opt to put in there believe this one's just right before the 4506 and then they could go ahead and sign that and pull it out so we can get that off through your method of choosing to the IRS to get that taken care of so let's just know that the package has been completed gives us an option to print that package out if we so choose and send that on but fer for us now I'm going to go ahead and just open my email account during the time I was in there I got a notification let me know that I had picked up the e sign documents will consent there and then when i had finished but i'm just going to go back to borrower to now Jane click on the link for Jane and then when i get to that a lot to validate the data the same way that I the first time with the first power again for demonstration purposes I just made this all the same go ahead and validate that data it's correct brings me into the electronic signature or disclosure and consent agreement again and I can agree and continue so from here second time through we've got our instructions again I'll click on the document it'll bring those instructions up again and then I can jump to the places that need to be signing you'll notice the font signature for Matthew examples already been completed and Jane example shows up besides that and jump to the next document prompts us to print that again we'll assume that's been completed jump to the next document needs to be reviewed again we see the bar coding for the imaging software jump to the next document sign that this is all happening real time too so Matthew example and Jane example open their files at the same time and Matthew just started a minute earlier his name might be completed as he's going through if he stopped or he wheezed if he was just a little bit slower I going through the signing process Jane might catch up and we might see her signature on the documents towards the end and not his depending where I've already signed all these we're just in the font signature already completed and in the file what signature separator page once again and then it gives me the option to go ahead and print this package out this one's slightly different because I've already gone through and had the other borrower signed the document you'll see in the top right now it's been completed digitally signed by IDs the IP address of the computer that that happened at the time hour minute second that all occurred so if we wanted to print that out for our records we can keep that but for right now we're we're completed with that process I'm going to go back in now for the loan officer click on the link for the lawn officer and again this holder time I'm receiving emails on the back end showing that the process has been completed for the borrowers hope wrong password here's the 10 3 which the law officer is going to have to sign of the documents that are required scroll down or jump to the signature we'll see that's all been completed loan officers signed it and our package is now essentially complete and again we have emails going back wherever you wanted to have those sent to let you know the process has been completed I'll just show you one other step in here as well if we want to check on the progress we can go up to the top click on signing progress we can look at you know what documents the loan officer still needs to sign John example Jane example in this particular situation all the documents have been completed but if there were one or two missing you can ask for those to be done as well if the loan officer was doing this on site or maybe meeting a coffee shop or had them in your office they could go ahead and just have somebody sign in on a tablet or computer and be signing their and when they wanted to change signers they could go ahead and do that validate with that other signer and have them sign in show their electronic consent as well if we wanted to receive that or show that again but that's pretty much the bulk of what's happening after we order documents from the system it's probably one more document that i should show everyone on top of getting those emails back which one of the process was indeed complete and we could keep those and a unique company email address or whatever the case might be but on top of that probably the last thing needs see is the initial disclosure report that we send out this is actually an older report I've got the branch code information over here to the left so if that was nique for your company and we had different branches we could fill that in long numbers borrower's name and I've just deleted all all the different bars that I had when I actually pulled a live report and then just did some things in here for demonstration purposes so that's why it just says borrower's name now but borrowers email address so we're always going to be sent the property address who the products were ordered by just going across a little bit further the initial disclosures is the package type that we're sending case we're going to do some pre disclosures or adverse action notice or something different we'd have a few different options in there then we have the disclosure type we're going to have an e signed rather than being self disclosed or we have the application date as I said this is a bit of a older file so January 12th 2012 the date the file was created at eight thirty five a.m. and then to the right of that the date it was emailed and that that was consent to two at ten forty seven a.m. and then as you can see about 25 minutes later a little bit longer package takes a while for the borrower to get through and understand the instruction maybe they were interrupted maybe they weren't but they finish the e sign process so if we go over to the right it was never mailed out in case they were going to use our US mail system so there's no date for the mailing and it shows that that was completed so we have another package down below we've got application date this is for the ello same time 835 835 loan officer jumps in here 12 19 it's a very small ordeal for the loan officer three minutes later that package is completed being signed and so we show that again being completed over here as well one small thing I maybe failed to mention when I we're going through there the loan officer does get the instructions as well we just turned that off for the demonstration purposes so here's another file it's coming across its ordered January 11th at 207 p.m. that's when it was emailed we can see that it was consented at 301 and it was assigned there at 310 so just took about nine minutes now the discrepancy that maybe some of your sharp eyes have noticed is it this is the 11th and that happened on the 18th so it's great that we have consent we don't need to track down you know the the signed documents because we have it signed but that didn't meet our 72 hour rule that were need to follow so that particular file was mailed out on the 14th at 1030am later on do we need to worry about getting the signed documents back now we have those in the file so we can review those later unless there's any that you needed wet signed and that shows the the borrower's received that via mail all this stuff right here as well is something that we're working on turning into a dashboard item where it will happen a little bit more real time but you get these reports sent out on a daily basis and you're able to review the documents that you've sent out make sure they've been signed or if you need to mail them out they can be but the majority of them tend to be assigned and brought back so at this point that pretty much concludes my remarks for the e-sign process and we can go ahead and open it up to any questions that are being typed in and try and answer those however we might be able to thank you matthew for preparing that for us so let's go ahead and take a moment for everyone to write down any questions they might have that we can answer live during this question and answer period while you think of questions we will just throw on the results from the initial poll so it looks like we have a pretty good spread there most of you are new or not using assigns currently yet and looking to improve so hopefully as a result of working with ideas we can get you all using signs very successfully so we're going ahead and let you put in some questions Matthews your microphone still open yes it is can you hear me okay yep so yeah just a couple of them they'll maybe read off a paraphrase there's one question here that I really like just essentially asking you know borrowers and brokers how do we motivate them to e sign the documents and I think that's a great question I get a lot of questions about how what percentage of people do this and I see a vastly different response to that different companies and I've been able to find out that a lot of that is just through how the company goes about making sure people are in a situation to sign them or that there were they need to sign them and it kind of reminds me of a story couple years ago I wasn't holding a monthly sales meeting and my boss wanted that to be happening on a more regular basis than it was and he said well I'll get this figured out we just want to pay the sales team and you any Commission's until you have that meeting every month so you know ever since then we've been holding that monthly sales meeting I guess that's kind of the big stick theory and obviously thing when the carrot would be the other things which is positive and negative reinforcement and it's pretty you know easy I think to motivate your employees or your brokers to do things like this through innovations through a multiplier to commission or if their competitive juices aren't enough then you can do some type of raffle that every time that somebody is entering in and and doing the e sign documents that they're going to have a better bonus or opportunity to get a big bonus that they might go after same thing is going to be said with customers then you know the loan officer is going to need to educate the customer that they need to go out and fill out these documents or else their loan which they really want is going to be slowed down in process it's going to take longer block might expire I mean there's there's a lot of things there faster turnaround time makes it easier for you to track the documents so you know that I hope hopefully have some insight on that any of the other questions there Matthew yeah I've got a couple others so do I am I the presenter still so people can see my screen Tyler you will be here okay what question you like okay all right so just you know this probably is a bit redundant but just have one about when is the borrower consenting so anytime they're going to e sign they're going to be consenting and so consent is going to happen as soon as they get to the point they've logged in with their credentials and then they go ahead and click a Greek green continue at this point we have consent and so when we have consent then we don't need to worry about tracking down you know the or making sure the documents are in their hands at that point because they've consented to receive those and then from that point obviously we're having trying to have an e sign so that we're having signatures on the dock so we don't need to track down that as well another question just about the daily report when are they going to get the daily report sent out we email that on a daily basis to any email addresses or multiple email addresses that you might have associated with that account Tyler can you see a couple others there that you might just want to yeah let's see thank you for all those who put in questions here's a question from Deb store thank you if we elect e-sign must we go directly to the ids site to make a sign elections or do the lof software vendors allow us to have those options on our LS order screen to send the request for e sign to IDs a great question unfortunately I'm not going to be able to give you a very clear-cut answer on that because it depends somebody else will do some of them don't nids they obviously have to you know go through and and pick the option of hey we're going to order initial disclosures we are going to e sign we're going to do fulfillment or self-fulfillment have a couple different options in there but yeah I did it's it's situational depend on your LS see a question in there that surely asked you see that one Tyler sure do um Thank You Susan surely what are the loan types that do not allow e-sign for example I believe FHA just began allowing e-sign and I thought the IRS allowed it as well on 40 50 60 s now can you clarify yeah so so on the documents that typically need to be website borrower certification and authorization that's going to be sent to a lot of different places you might be something not to you know lamb boards and very different different companies checking on income and credit and things like that so just don't want to have that go into so many different places and then saying hey we don't validate this e-sign process so that one typically is wet sign and I probably don't see that changing in the near future the IRS has allowed wet signatures on the 4506 40 I'm probably forgetting the time frame that that's been applicable now but it seems like it's just over a year and all you know on the on the IRS 4506 they're easily as a validation process how you do that we have some third party companies that were working with on kinda and system so that can happen automatically you can also go through the ids system and submit a long report of the first 200 files that you do for the majority of our customers that's probably all the files leave you on a monthly basis and the IRS will use the electronic signature on that and validate that as well what to see is another question they're surely are we notified the borrower's did not sign so that we have time to mail out the packages so if you're using IDs for your paper fulfillment then we take care of that if you're doing that yourself you probably just want to establish in your process you know if I'm getting the data report after 48 hours if they haven't signed then I want to go ahead and you know mail out a paper copy that can be your choice you're also getting email back when they do sign but there's not a red flag so to speak that's being waved in front of you saying it's been 72 hours it's time to mail out the package so we have easily that people build their own protocols and systems on that Margaret asked if the cost can be passed on to the borrower that's a that's a bit of a loaded question as well you can pass it on to the borrower initial a bit in your you're trying to collect those fees upfront most people will do fees like this when they are closing the loan they'll roll those into the loan amount so you know that's easier to do but then you're going to have a fallout certain amount of customers that you're going to send out the initial disclosures to that not going to end up closing and and how are you going to weigh that out and and you're only allowed to pass on the exact cost to the borrower and last it you know you're just doing is an overhead fee and if so then that's a prepaid finance charge as well Tyler do you see any other questions in there that yeah we have one more question oh here we go more coming on see the one from John can you see that yeah John Beckman asks if a borrower can sense do they actually need to e sign to be in compliance so again just back to consent consent means that they've received the forms so you're 72 hours is now in compliance but you still have to have them sign all the forms now a lot of people will do that at the closing table even other initial disclosures and they'll just rifle them all through and have you know signatures captured there but at some point yes the doc documents do have to be signed so econtent doesn't get you all the way the goal line but it does stop the clock from running as far as your you're 72 hours is concerned I do see one of the question is probably pretty valid from Kathy do we need to set up anything without es start using the e sign docs or is the service available at any time so it is available at any time but out of the box we don't turn on the the fulfillment part of it so there's no paper fulfillment in the event the customer doesn't assign but if you want to start using the e sign process today unless your admin has asked us turn those privileges off for you or the order screen you should have those capabilities right away did you have any other questions there tell anybody raise your hand I think we're good we're up against the time so if that is everyone's questions answered appreciate you tuning in to the this IDs e-sign webinar one of our series we encourage you to attend our next webinar n appreciate your time thank you and please take the survey as soon as this meeting ends thanks time