Pinnacle Lending Group Taps Robust New Proofspace Integrity Technology For Consumer and Investor Protections
Mortgage lender raises the bar on data authenticity measures, adding virtually impenetrable cryptographic "tamper-seals" for all customer docs and emails.
Grand Rapids, MI (PRWEB) January 31, 2008
Pinnacle Lending Group, LLC. a full-service mortgage broker offering consumer and commercial lending from refinancing construction lending, today announced it will be deploying ProofSpace's ProofMark™ Transient Key technology to tag all of its email and electronic loan documentation with cryptographic tamper-evident seals. The company will be implementing ProofSpace's ProofDoc™ and ProofMail™ products to assure customers and investors that all documentation will be protected from unauthorized changes and malicious edits, no matter who handles the files, where they travel or how they're stored.
"A key service Pinnacle Lending provides to its customers and its investors is data authenticity. As the entity between the consumer and the bank, it is essential that both parties know that everything they've read and signed is valid," explains Dale Hamill, CEO of Pinnacle Lending. "It should be a given in the industry, but unfortunately it isn't. To demonstrate to our constituents how seriously we take this issue, we're engaging ProofSpace's technology to give all parties in a transaction irrefutable evidence of the validity and authenticity of their electronic documents and communications."
The ProofMark technology provides a self-validating cryptographic seal that acts as a "tamper indicator" which is impossible to manipulate, even by trusted insiders. By utilizing this technology for loan documentation and email correspondence, Pinnacle Lending will be able to track all edits to their paperwork, and customers will be able to see any changes and who made them.
Consumer confidence in the mortgage industry is at an all-time low, largely because of the fraudulent manipulation of customer documents by major mortgage vendors, as evidenced by the recent article in the New York Times detailing Countrywide Financial Services illicit practices," (Reference http://www. nytimes. com/2008/01/08/business/08lend. html?_r=1&oref=slogin (http://www. nytimes. com/2008/01/08/business/08lend. html?_r=1&oref=slogin)) stated Paul Doyle, CEO of ProofSpace. "By utilizing ProofSpace's unique technology, it would be virtually impossible for Pinnacle to fabricate post-dated false customer documents the way Countrywide is alleged to have done. Pinnacle Lending is proving to its customers that Pinnacle will uphold the highest standards of personal, business and data integrity."
Pinnacle Lending has begun software integration and expects to complete the project by the end of Q1'08. The ProofMark technology will not only be applied to electronic files, but also all hardcopy documentation and paper correspondence scanned and entered into the company's document management system.
About Pinnacle Lending, LLC.
Pinnacle Lending is a local brokerage firm, serving the lending needs of real estate professionals, builders and individual homebuyers throughout the state of Michigan. They offer a full range of mortgage sources with lending specialists who find the right loan with the best rates, terms and costs-to meet their customers' needs. Pinnacle focuses on customer service and communication.
ProofSpace builds "legally robust" data authentication solutions that thwart fraud, provide an undeniable record of good enterprise conduct, and repudiate false legal claims against client companies. The company's patented ProofMark™ Transient Key technology tags electronic business records with a self-validating cryptographic seal that acts as a "tamper indicator" based on a true and provable time-reference datum, impossible to manipulate, even by trusted insiders. ProofMark irrefutably proves that the content of a record has not changed since the ProofMark was applied, no matter where the data resides or who controls it. The ProofSpace system was the only method recognized by the ANSI X9.95 standard that can be deployed entirely as software inside of an enterprise, without depending on an external trusted third party. More information on ProofSpace, its technology and products are available at the company website at www. proofspace. com.
Pinnacle Lending Group, LLC.
(616) 245-2110 ext.103
Kurt R. Stammberger
# # #