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Utah Bank Chooses Digital Escrow.(Bank of American Fork, Digital Escrow Services)(Brief Article)

Mortgage Servicing News

| September 01, 2002 | COPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Digital Escrow Services Inc. (DESi), an Internet-based administration facilitator of mortgage loan escrow transactions, has secured its first client.

Utah-based Bank of American Fork has chosen the DESi system for online processing of escrow payments.

DESi's Web-based technology is designed to automate the traditional, labor-intensive, paper-based method of tax and insurance payments currently in place at most financial institutions that service residential mortgage loans.

"With more than $436 million in assets, we have expanded our operations dramatically during the past few years," said Richard Gray, the bank's vice president. "Our growth and continued success requires that we have the most efficient and effective systems in place. Digital Escrow Services easily met these needs."

The DESi solution will allow Bank of American Fork lending agents to enter the tax data ...

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Source: HighBeam Research, Utah Bank Chooses Digital Escrow.(Bank of American Fork, Digital...

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