The bank will be the fourth financial institution in the Canadian province to adopt Assyst Real Estate.
Upon signature of a final five-year agreement, the solution would be offered progressively to Laurentian Bank branches beginning in November 2007, allowing bank employees to send mortgage instructions to notaries electronically. Additionally, when the agreement comes into effect, Emergis expects to be processing up to 75% of residential mortgage mandates in Quebec.
Emergis’s bilingual Assyst Real Estate mortgage system is designed to facilitate instructing, funding and reporting of mortgage loans for lenders and the legal community. With it, lenders can send mortgage instructions electronically to notaries, lawyers and their staff in real-time.
In turn, these professionals can complete mortgage transactions from end to end online. Emergis says that Assyst Real Estate speeds up the processing of transactions, reduces paperwork, cuts back on costs and reduces the risk of clerical error.
As part of the national launch of Assyst Real Estate, in partnership with a Canadian bank, Emergis will deploy its solution in British Columbia and Ontario over the summer, in the western provinces before the end of 2007 and in the Atlantic provinces during 2008. These deployments will be supported by an adoption program designed to increase the number of notaries and lawyers who use the solution in each region.
As part of this program, Emergis has signed agreements with software suppliers to the legal community, such as RemoteLaw (now OneMove Technologies) and Pro-Suite in British Columbia, as well as Do Process Software in Ontario.
