SOURCE: Wave Systems Corp.

Wave Systems Corp.

April 26, 2010 08:34 ET

eSignSystems to Showcase Its eMortgage Solution Now Live With MERS® at the MBA National Technology Show

Completes Steps to Move Mortgage Processes Online, Integrating With Mortgage Electronic Registry System (MERS)

LEE, MA and CHICAGO, IL--(Marketwire - April 26, 2010) -  eSignSystems, a division of Wave Systems Corp. (NASDAQ: WAVX), will showcase expanded MERS capabilities in its SmartSAFE software that allows customers to register electronic mortgages from origination through closing. By fully integrating its software with MERS, the industry-endorsed system for electronically tracking mortgage ownership and servicing rights, eSign is helping its customers implement and provide secondary market liquidity for paperless mortgages, and has brought its first customers into production with this solution, including a lender, an investor and a document custodian.

Many experts in the mortgage industry have extolled the benefits of adopting an entirely electronic (paperless) mortgage, and have identified integration with MERS as a critical component in this effort. Benefits of eMortgages to lenders can include reducing operational costs, improved data integrity and better customer service. Many borrowers could see lower costs, along with faster approvals and improved disclosures and transparency.

"We've made significant progress in responding to market demand by integrating our solution with MERS, addressing a significant challenge to eMortgages," said Kelly Purcell, eSignSystems' Executive Vice President. "I'm pleased to report that several of our customers are fully deployed and accessing MERS today, realizing the benefits and added efficiencies that a MERS-integrated eMortgage solution powered by the eSignSystems software suite can offer."

eMortgages continue as a central theme at the MBA Technology in Banking Conference & Expo, taking place today through Wednesday, April 28, at the Hyatt Regency Hotel in Chicago. Meetings and demonstrations are available at eSignSystems' private meeting room -- located at the nearby Hard Rock Hotel. Contact Kelly Purcell at 602-615-8092 or kpurcell@esignsystems.com if interested.

As the "national eNote registry" for the mortgage industry, MERS was developed in response to the electronic document requirements set forth in prominent legislation such as UETA and ESIGN. An entry into the registry ensures that the owner of an eNote has the same rights as holders of traditional, paper promissory notes.

New SmartReportingModule for On-Demand Analytics

The MBA show will include the public debut for the new SmartReporting Module, which is designed to empower eSignSystems customers to track details of their mortgage portfolio and cross-reference systems to discover profit opportunities. Announced last month (www.helm360.com/images/HELMPress032410.pdf) by partner HELM Analytics, a division of CCS Global Tech, the new module can enhance and expand the reporting capabilities of SmartSAFE, which provides e-Vaulting and lifecycle management of signed and unsigned documents. Customers can access dashboards, canned reports and ad hoc reporting functions. They can easily access and manage signing statistics, error logging, document receipt and vaulting, along with all MERS eRegistry transactions.

Data held in the SmartSAFE can be delivered to employees, customers and partners. The SmartReporting module delivers information securely to end-users via corporate portals, email or customer applications. Reporting is published in relevant formats including PDF, HTML and Excel.

One unique function includes the ability to leverage data from proprietary document systems and third-party data sources, enabling lenders and document custodians to capture information they require at every step of the eMortgage process, without compromising the legal integrity of their documentation. This custom integration lets customers trigger automated workflow and exception handling, which reduces manual processes. Users can access registrations, transfers and electronically deliver data.

About eSignSystems™ - eSignSystems, a division of Wave Systems Corp. (NASDAQ: WAVX), is a leading provider of lifecycle management of electronic legally binding signed documents, contracts and digital transactions. eSign Transaction Management Suite (eTMS) enables companies to manage business processes and transactions entirely online. eTMS organizations can immediately achieve regulatory compliance, improved productivity and efficiency in processing transactions, and significant cost savings through the elimination of document transportation costs, processing and storage. For more information, visit www.esignsystems.com.

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Except for the statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to fund operations, the ability to forge partnerships required for deployment, changes in consumer and corporate buying habits, chip development and production, the rapid pace of change in the technology industry and other factors over which Wave Systems Corp. has little or no control. Wave Systems assumes no obligation to publicly update or revise any forward-looking statements.

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