Wells Fargo Funding to Accept Encomia eDisclosures, eSign 1003

Business Wire,  April 2, 2008  

Tags: Wells Fargo & Co.

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HOUSTON -- Encomia, a provider of end-to-end eMortgage technology, announced today that Des Moines, Iowa-based Wells Fargo Funding, a division of Wells Fargo Bank, N.A., will now accept for purchase loans originated using Encomia's eDisclosures and eSign 1003.

Wells Fargo Funding will accept Encomia's eDisclosures and eSign 1003 in order to provide additional options to borrowers and potential cost savings to originators. The change is a first step towards originating fully electronic mortgages.

"This relationship will significantly benefit those who originate loans using our electronic disclosures and application," said Andrew Dubinsky, president and CEO of Encomia. "Not only does this provide such lenders with a likely purchaser of their loans, it reflects Wells Fargo's leadership position in moving the industry toward greater adoption of electronic mortgage technologies."

Encomia's eDisclosures are designed to speed up the residential mortgage loan application process by enabling borrowers to review and sign their upfront disclosures and loan applications online. The disclosures and application can be sent electronically to borrowers, enabling lenders and brokers to save document shipping and other costs, verify borrower completion of the documents and ensure compliance with applicable laws in a secure environment.

About Encomia

Houston-based Encomia enables mortgage lenders to more cost-effectively and efficiently originate mortgage loans by enabling lenders to process mortgage loans electronically, from end-to-end, on a large-scale basis, regardless of document format. The company's Encomia eMortgage Solution provides financial institutions with a comprehensive tool kit for full eMortgage including the creation of SMART Docs, electronic signature capability and secure document archival. Encomia's solutions are compatible with a number of third-party technologies, are adaptable to institutional standards and can be implemented in a manner that allows for gradual eMortgage adoption. To learn more about Encomia, its products and services, please contact Bill Eckert, vice president of sales at info@encomia.com or visit the company's Web site at http://www.encomia.com.

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