This new e-notarization solution combines the Safedocs System(TM) (SDS) software with the National Notary Association's Enjoa(TM) (Electronic Notary Journal of Official Acts) signature input platform. Enjoa was developed and is manufactured for the NNA by Interlink Electronics, Inc. This input device captures handwritten signatures, fingerprints and state-of-the-art biometric data to provide an electronic signing input solution for the e-notarization of electronic mortgage documents. Introduced last year, Enjoa is being used today as electronic notary journal to replace traditional paper-based journals used to record notarizations.
“Our primary goal is to provide Notaries in all fifty states with a complete solution that presents no hurdles to adoption.”
"We are very excited that Notaries around the nation will soon be using the Safedocs System with Enjoa to perform electronic notarization of digital mortgage documents," said Milt Valera, National Notary Association President. "Home mortgages and refinancings have been processed at a record pace over last few years. Using the Safedocs/Enjoa solution, closing documents for these transactions will no longer need to be printed. They will be presented, signed, notarized and stored -- all electronically. The savings in overhead and time, especially to larger financial institutions doing thousands of transactions per day, is significant."
"We are pleased to join with our industry partner, the National Notary Association, to offer the world's first NNA-certified digital mortgage e-notarization solution," said E. Michael Thoben, Chairman, CEO and President, Interlink Electronics, Inc. "As financial institutions pursue end-to-end automation of their customer documents and services, few processes will benefit more from e-notarization than the home mortgage transaction."
"The burgeoning e-mortgage industry has made great strides toward implementation of a completely electronic loan closing process," adds Safedocs' President and founder, Terry Van Bibber. "A major obstacle, however, has always been the lack of an e-notarization solution. Our design team recognized this and integrated the notarial function with a digital notary seal to provide a complete closing and post-closing e-mortgage solution. We digitized the mortgage notarization procedure but did not structurally change it. Notaries are an essential part of the loan closing process.
"I'm proud of the fact that, in 2001, Safedocs was the first software developer in California approved by the California Secretary of State and the National Notary Association to use the digital notary seal on lending documents," continued Mr. Van Bibber. "Since then, we have worked with the NNA to develop this national, seamless e-notarization system to electronically execute digital mortgage closing documents."
Electronic Mortgage Notarization
The Uniform Electronic Transactions Act (UETA), adopted in over 40 states, and the federal E-Sign Act allow Notaries to execute document notarizations electronically. The Safedocs System with Enjoa complies with this legislation and models the rules for e-notarization promulgated in the National Notary Association's landmark Model Notary Act of 2002, which integrates for the first time traditional paper-based and electronic notarization processes.
Using Safedocs with Enjoa, Notaries will e-notarize digital loan documents following the same steps of notarization used in paper-based mortgage documents. After reviewing the electronic mortgage documents, the borrower uses an ordinary stylus with the Enjoa signature input pad to sign them. The resulting e-signature appears on the digital documents exactly as it would if the borrower were signing on paper. The e-signature, however, also contains forensic signature biometrics that will travel forward with the signed document. To complete the e-notarization, the Notary signs a notarial certificate electronically and affixes the digital Notary seal. The Safedocs software then tamper-seals the notarized electronic documents to prevent unauthorized changes.
"The system is easy to use for Notary and borrower alike," said Richard J. Hansberger, the National Notary Association's E-Notarization Manager. "Our primary goal is to provide Notaries in all fifty states with a complete solution that presents no hurdles to adoption."
The Safedocs System with the NNA Enjoa input device is a secure closing solution that will enable borrowers to digitally execute documents with biometric signatures and digital notary seals. It also provides a secure portal that allows Notaries to access electronic loan documents online. And, because the system is Web-based, a borrower may appear before a Notary in the Notary's place of business or, as is becoming more common, in the borrower's home or place of business to perform the necessary notarizations.
About the NNA
Founded in 1957 and headquartered in Chatsworth, Calif., the National Notary Association is the nation's preeminent authority on notarial laws, customs and practices. Currently, 230,000 Notary members take advantage of the NNA's educational and other support services.
About SafeDocs
Safedocs, a California corporation formed in December of 1999, is located near Silicon Valley. Safedocs is a digital document biometric closing and post-closing Real Estate lending application. Our management team and advisory board are composed of lending, title, recording, legal and technology professionals with well over 100 collective years of industry experience services.
About Interlink Electronics, Inc.
Interlink Electronics, Inc. (Nasdaq:LINK) is a world leader in the design and manufacture of intuitive interface technologies and products. Creating today's e-signature interface standard, the company's ePad e-signature technology, used in the NNA's Enjoa product, has proven itself to be the financial industry's solution of choice for capturing handwritten electronic signatures. Interlink Electronics serves a global customer-base from its corporate headquarters in Camarillo, Calif., and offices in Japan, Taiwan, and China. See Interlink Electronics, Inc. online at http://www.interlinkelectronics.com/ or in Japan at http://www.interlinkelec.co.jp/.
All registrations and trademarks are properties of their respective owners.
This release contains forward-looking statements that involve a number of risks and uncertainties. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: business conditions and growth in the electronics industry and general economies, both domestic and international; lower than expected customer orders; delays in receipt of orders or cancellation of orders; competitive factors, including increased competition, new product offerings by competitors and price pressures; the availability of third party parts and supplies at reasonable prices; changes in product mix; significant quarterly performance fluctuations due to the receipt of a significant portion of customer orders and product shipments in the last month of each quarter; and product shipment interruptions due to manufacturing problems. The forward-looking statements contained in this document regarding industry and revenue trends, fourth quarter 2003 financial results, technology adoption, and future business activities should be considered in light of these factors.
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