DART Adds Two Integrations to its Lien and eNote Registry System
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Apr 22, 2022, 09:00 ET
Blue Sage and Docutech to Offer DART Digital Registry to Their Customers
NEW YORK and SAN FRANCISCO, April 22, 2022 /PRNewswire
DART (Digital Asset Registration Technologies, Inc.), a combined lien and eNote registry system developed by Figure Technologies, Inc. using blockchain technology, announced today integrations with Blue Sage, an innovative, cloud-based digital lending platform for retail, wholesale and correspondent lenders, and Docutech, the leading provider of document, eSign, eClose and digital-to-print fulfillment technology for the mortgage industry and a member of the First American family of companies. Through the respective integrations, Blue Sage and Docutech customers will soon have the ability to register loans with DART, simplifying the loan process and allowing for immediate settlement.
Lenders using DART can turn their loans into unique digital assets on the Provenance Blockchain. This process facilitates immediate and automated asset onboarding and real-time settlement of loan pledges and sales. The process also allows lenders to use DART’s integrated registration system that can automatically reflect transfers of loan interests.
“We recognize that in order for DART to more broadly bring speed, efficiency and cost savings to the industry, we must work closely with widely-used LOS, document generation, eClose and eVault providers,” said Leah Price, Director of Lending Ecosystem at Figure and the lead for DART. “Technology distribution is typically just an afterthought of a product build, but our approach with DART is to prioritize distribution up front to ensure that partners are able to easily plug-and-play.”
Blue Sage’s enhancements and integrations will allow lenders to register loans with DART or MERS. Additionally, for loans registered with DART, Blue Sage will facilitate the push of data and documents to create the immutable record of the digital asset upon origination.
Docutech’s integration will allow for its document-generation offerings to include DART security instruments and SMART eNotes. Once e-signed via Docutech’s Solex® system and upon execution, DART SMART eNotes can be automatically registered with DART and onboarded to the Provenance Blockchain.
The friction, risks, and costs involved in the traditional loan sale and delivery process can all be reduced using the DART and Provenance Blockchain systems. The traditional loan sale and delivery process has typically required duplicative registration of a loan in multiple MERS databases and slow and risky trilateral settlement arrangements with originators, warehouse banks and investors.
“The loan settlement process is ripe for technological advances to make transactions more secure, faster, and more reliable for consumers and the industry. Today’s announcement is an important step toward greater adoption of DART by key mortgage industry players,” said Dan Wallace, GM of Lending at Figure Technologies. “As the mortgage industry continues to evolve, DART provides a real solution for real-time settlement of loans and transfers.”
“We are pleased to integrate DART into our offerings to support lenders and settlement providers’ adoption of digital innovations,” said Emily Shapiro, President of Docutech. “Providing more options to digitize aspects of the settlement process is a huge step forward in our ability to deliver for our clients.”
“As technology continues to advance, our customers expect us to provide cutting-edge services throughout the loan origination process,” said Carmine Cacciavillani, Founder and President of Blue Sage. “The implementation of DART not only allows for rapid settlement, but also provides an additional layer of security by making the records immutable. These are important developments that will benefit our customers.”
For more information, please visit www.DARTinc.io.
DART is a combined lien and eNote registry system developed by Figure Technologies, Inc using blockchain technology. Lenders using DART can turn their loans into unique digital assets on the Provenance Blockchain. This process facilitates immediate and automated asset onboarding, real-time settlement of loan pledges and sales and use of the integrated registration system that can automatically reflect transfers of loan interests. For more information, please visit www.DARTinc.io.
About Blue Sage Solutions
Blue Sage Solutions is an innovative, cloud-based digital lending platform for retail, wholesale and correspondent lenders that provides a superior lending experience for every borrower. The company’s technology is 100 percent browser-based and provides end-to-end functionality for the entire lending and fulfillment process, regardless of channel. Blue Sage’s platform includes mobile applications delivered through a secure, fully managed cloud service. Blue Sage Solutions is headquartered in Englewood Cliffs, New Jersey. For more information, visit www.bluesageusa.com.
Docutech, a member of the First American family of companies, provides an end-to-end, integrated, digital mortgage experience – from document generation to eDelivery, eClose and print fulfillment. Docutech sets the standard in providing market-proven technology and unrivaled customer service to the financial industry. Founded in 1991, and acquired by First American in 2020, Docutech has become a technology powerhouse, with the marriage of their innovative technology and the distribution, expertise, and financial strength of First American. For more information, visit the company’s website at www.docutech.com or follow them on social media at LinkedIn or Twitter @Docutech.