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photo, Dave Williamson
The eMortgage Alliance, a loose vendor consortium originally formed two years ago by DocuTech Corp. here to evangelize end-to- end electronic mortgage transactions, has elected a new governance board and taken steps to unify members more tightly and pursue a more focused mission.
The restructuring began in April 2004, when Ty Jenkins, chief executive officer and founder of DocuTech Corp., contacted the existing alliance members and apprised Mortgage Bankers Association's vice president of industry technology, Gabe Minton, that he wanted the eMortgage Alliance to support industry adoption of two core standards in the development of all-electronic mortgage transactions: those set by the Mortgage Industry Standards Maintenance Organization and those used to create secure, manageable, achivable, retrievable and transferable documents.
"My concern was that the industry not adopt [electronic] mortgages one piece at a time," Mr. Jenkins told National Mortgage News.
"Certain lenders will be inclined to pursue their own strategies rather...