eOriginal, Inc. today announced that Freedom Financial Network, LLC (FFN), the largest negotiator of consumer debt in the nation, has adopted Digital Transaction Management (DTM) to securely store and manage its consumer loan transactions.
Headquartered in San Mateo, Calif., FFN, under its Freedom Financial Asset Management (“FFAM”) division, sources unsecured consumer loans for federally insured banks, who then may sell such loans to institutional investors, with FFAM remaining the servicer on behalf of the owner(s).
By implementing eOriginal’s eAsset® Management Services, integrated with a leading eSignature provider’s solution, FFN is able to maintain a tightly controlled, fully digital environment to store and manage these transactions, including its Authoritative Copy documents. This allows FFN to ensure the authenticity and legal enforceability throughout the entire lifecycle of every digitally signed transaction.
“Using eOriginal’s digital vaulting services provides crucial assurance that the integrity and authenticity of our investors’ promissory notes will never be called into question,” said Joseph Toms, President of Freedom Financial Asset Management. “As a new breed of direct lenders rises up to challenge traditional financial institutions for market share in the consumer lending space, eOriginal’s digital asset management services help provide consumers an easy, seamless and secure business transaction environment. This enables FFAM to meet the most stringent compliance standards demanded by investors of a top flight lending organization.”
eOriginal’s document repository allows FFN to tightly control and track access, status changes and retention policies of all digital transactions through the use of digital tamper-proof seals and the most detailed audit trail and reporting functionalities available on the marketplace. The eOriginal solution provides end users with the ability to securely provide access to additional authorized participants such as lenders, document custodians, investors, auditors and legal counsel.
“We are pleased to provide Freedom Financial with confidence in how it digitally manages its transactions,” said Steve Bisbee, president and CEO of eOriginal. “By implementing a 100 percent digital solution, paired with the highest levels of security and compliance, Freedom Financial is able to conduct business in a more secure and efficient manner, safeguarding its servicing base while attracting new investment and business opportunities.”
Freedom Financial Network, LLC (FFN), provides comprehensive consumer credit services. Through the FFN family of companies – Freedom Debt Relief, Freedom Asset Management and Bills.com – FFN provides consumers with comprehensive financial solutions, including personal loans, , debt settlement and services and in-depth education for consumers to help them achieve financial freedom. The company, which has resolved more than $3.5 billion in debt and assisted more than 300,000 clients since 2002, is an accredited member of the American Fair Credit Council, and a platinum member of the International Association of Professional Debt Arbitrators.