National Credit-reporting System (NCS), a consumer-reporting agency specializing in income, identity, and credit intelligence, announced Thursday a technology integration with eSignSystems to help enable the broader use of electronic signatures in completing conventional mortgages and other loan forms electronically.
eSignSystems, a division of Wave Systems Corp (WAVX), provides lifecycle management of electronically signed, legally binding documents, legal contracts and digital transactions.
The new partnership comes in anticipation of a new Internal Revenue Service rule. Come Monday, the IRS will begin accepting electronically-signed 4506-T and 4506-EZ documents, or the income verification forms that are part of the processing of most mortgage and loan modifications.
NCS, a participant in the Mortgage Bankers Association’s IRS-related workgroup, says its integration into eSignSystems’ SmartSAFE offering will allow its tax return verification customers to move to signing and managing their loan origination documents online as well as immediately benefit its mortgage origination clients. Additionally, the partnership allows NCS to break into new customer sectors: insurance and healthcare.
NCS’s web portal will continue to support physically signed 4506-T forms, the company said in a release issued Thursday. NCS has sold 4506-T offerings nationwide since 1994.