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Taking eClosing End-To-End

Pavaso has unveiled a new, complete suite of eClosing tools for mortgage lenders that includes Remote Online Notary and SMART Note capabilities. The Pavaso Platform now provides a one-stop digital closing shop that empowers all parties involved in mortgage transactions to consistently increase efficiency, eliminate errors, improve workflow and create more informed consumers, leading to faster, more efficient closings.

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Powered by Pavaso’s eClosing platform, Pavaso’s full suite of eClosing products enable lenders, title companies, agents and borrowers to electronically eDeliver early disclosures, eSign documents, remotely eNotarize documents, eClose loans, execute full eNotes and deliver closed loan files to an eVault.

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Pavaso CEO Mark McElroy said, “Our unified and collaborative portal in addition to tools like Remote Online Notary and Pavaso SMART Note will not only help lenders attain the digital transformations they are looking for—they will also help lenders deliver the ultimate customer experience.”

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The Pavaso Platform includes Remote Online Notarization (RON), Pavaso’s newest tool that enables remote closings to be conducted anywhere, on any device, in as little as 15 minutes. With RON, Pavaso commissions qualified, experienced closing agents to remotely notarize documents, helping lenders, title companies and consumers experience a faster and more convenient closing.

“Never have we seen so much excitement over a technology like RON, which satisfies a key requirement for lenders that wish to make a digital transformation,” said Pavaso’s vice president of partner relations and government affairs, Nancy Pratt. “RON is already being used in four states that allow remote notarizations. With more states adopting remote notarizations, we expect demand for RON will continue to grow. This year alone, five more states have adopted legislation around this technology.”

The suite also includes Pavaso SMART Note, a tool that generates compliant, tamper-sealed SMART Doc eNotes to increase collateral control.

In addition to RON and Pavaso SMART Note, the Pavaso Platform includes:

Digital Close Enterprise – A unified, powerful array of closing products that enables collaboration between all stakeholders to conduct seamlessly complete digital closings.

Digital Close – Provides homebuyers and sellers access to review documents anytime, anywhere, and from any device prior to the closing, so they can close loans quickly.

Pavaso eSign – A modern, convenient way to eSign documents from anywhere with ease on any device.

eDelivery – Enables parties to electronically deliver all required compliant documents to other stakeholders, from early disclosures to the final closing package.

PavasoDocs – A complete SMARTDoc library of loan documents that ensures compliant, secure, data-portable loan files throughout every stage of the closing process.

Pavaso eVault – Securely stores all Pavaso SMART Notes and ensures the accuracy of all documents delivered.

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Blazing An eClosing Trail

BC Law, a provider of closing services for the mortgage and title industries, has selected Pavaso to conduct digital closings for its lender and agent clients.

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Based in Stuart, Florida, BC Law provides attorney state services such as title opinions, settlement, disbursement, and recording in several states for refinance, purchase and reverse mortgage transactions. By choosing Pavaso to provide a digital closing process for homebuyers, BC Law becomes one of the very few eClosing providers in states that require attorney settlements, which include Georgia, North and South Carolina, New York, Massachusetts and Vermont.

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“Working with Pavaso’s eClosing technology solution will provide our lender and title company partners the ability to eClose in select states which require attorney settlement partners,” said Rudy Krupka, chief marketing officer of BC Law. “Working with Pavaso, BC Law can deliver the positive eClosing borrow experience our clients have come to expect from BC Law.”

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The Pavaso Platform is the only closing solution that connects all stakeholders in one location. Lenders and title agents use Pavaso to collaborate, review closing documents and access all the tools needed to conduct digital closings, including remote online notarizations. As a result, borrowers receive much faster and more transparent transactions compared to a traditional, paper-based closing process.

Mark McElroy, president and CEO of Pavaso, noted that BC Law is known for having a high success rate of closing attorney-based settlements and is capable of conducting closings at any location, time or day of the month.

“We’re thrilled to be working with a company that is so committed to providing clients with a better closing experience,” McElroy said. “By conducting digital closings on the Pavaso Platform, BC Law will continue that commitment while ensuring more compliant, streamlined closings. We look forward to a long and successful relationship.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Pavaso And Carlisle Title Collaborate For Digital Closings

Pavaso has partnered with Carlisle Title, a Dallas-Fort Worth based company offering title and settlement services. Pavaso, a mortgage technology provider, is the developer of an end-to-end digital closing platform.

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Carlisle Title delivers a wide range of settlement services and products, including residential and commercial title insurance; closing services as well as specialized offerings for the mortgage industry.  Grounded in the belief that the real estate transaction should be easy, Carlisle Title is streamlining the closing process and providing consumers visibility into their transactional documents prior to signing, enabling the ease and simplicity of a digital closing experience.

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“Carlisle Title is committed to innovation that advances the real estate transaction while creating amazing experiences for our customers,” said Tara Williams, President, Carlisle Title. “We are thrilled to partner with Pavaso in providing an e-closing solution that will allow our customers to access and review their closing documents before signing, along with the convenience of digitally signing the documents at the time and location of their choice. In partnership with Pavaso, we’re streamlining the real estate transaction for all parties; allowing for closings to become less about signing paperwork and more about the celebration.”

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Pavaso’s technology allows lenders and title companies to deliver a complete, transparent loan package to borrowers, allowing them (or their REALTORs or loan officers) to access the closing documents anywhere, on any device, prior to closing. Pavaso’s Digital Close platform is capable of producing hybrid closings (digital closings which meet state requirements that some documents be “wet signed”), as well as complete eNote and eVault transactions.

“Consumers no longer hope for an easier closing process—they now demand it,” said Nancy Pratt, Vice President of Partner Relations and Government Affairs, Pavaso. “The digital closing is the new standard by which title companies (and even mortgage lenders) are being judged. For Carlisle Title, which has always focused on making the closing process one of transparency and simplicity, moving to the fully digital closing is a natural evolution, and one which confirms its place as a leading-edge settlement services provider.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Getting Closer To Full eClosings

Pavaso, a mortgage technology provider, has introduced a remote online notarization feature (RON) to its Digital Close eClosing platform. RON will enable users to conduct the mortgage closing session remotely—including notarizations. Pavaso is the developer of a truly digital mortgage enterprise solution platform that incorporates both lender and title participation.

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Pavaso’s development of its Remote Online Notarization tool provides its users the ability to conduct the entire closing (including notarization) using a single electronic portal through the Digital Close Enterprise eClosing platform.  Other systems require additional technology, integrations or multiple portals to conduct a complete, notarized closing. The feature was developed in direct response to the rapidly growing interest at the state level in allowing remote notarization. Currently, remote notarization is legal in Texas, Virginia, Montana and Nevada. Several more states, including Indiana, Minnesota and Tennessee, have passed laws or are expected to pass laws introducing remote notarization in the next year as well.

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According to Nancy G. Pratt, Vice President Partner Relations & Government Affairs for Pavaso, the addition of RON to Digital Close will empower users to notarize documents (where allowed by law) electronically and online—even when physically separated from the signer of the documents. The feature provides convenience to all parties without having to forego the use of experienced closing agents. Pavaso’s RON tool provides a faster, easier connection process for consumers as well as instant access to a recording of the notarizations.

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“RON is yet another powerful indicator that times are changing in the mortgage and settlement industries,” said Pratt. “Consumers are demanding more flexibility in choices – it’s no longer just a wish for flexibility in choices —they demand them. Pavaso’s unveiling of RON ensures that the consumer will now be able to experience the convenience, transparency and simplicity of a digital closing no matter where that consumer (or closing agent) might be situated.”

The Pavaso Digital Close platform delivers efficient, accurate closings by preventing errors at closing, including over signing, missed signatures and more. This, in turn, delivers a smooth, faster closing for consumers while reducing costs for mortgage lenders. The collaborative platform brings title and lender documents together for digital signature and allows consumers access all documents anywhere, on any device, prior to closing. Pavaso’s Digital Close platform provides flexibility in closing by facilitating hybrid closings as well as complete eNote and eVault transactions.

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Pavaso And First Title Partner To Help Enhance Digital Closing Adoption

Pavaso has partnered with First Title & Escrow, Inc. (“First Title”), a technology-focused national settlement services firm, to provide clients with a comprehensive digital closing program. Pavaso, a leading mortgage technology provider, is the developer of the industry’s only truly digital mortgage enterprise solution platform.

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Headquartered in the Washington D.C. Metropolitan area, First Title provides title and settlement services nationally. The company prides itself on being a technology-focused provider, committed to applying the latest in digital advancements to create the best possible consumer experience.

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“The fully digital mortgage is here, and we couldn’t be more excited to partner with Pavaso,” said Stephen Papermaster, President of First Title. “With this partnership, First Title is among the first to offer fully digital closing services to our clients.”

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Pavaso’s technology is simplifying the closing process for home buyers across the country and delivering an accurate, compliant, consistent closing in 15 minutes or less. The collaborative platform brings title documents and lender documents together for digital signature and allows consumers to have access to all documents anywhere, on any device prior to closing. Pavaso’s Digital Close platform provides flexibility in closing by producing hybrid closings as well as complete eNote and eVault transactions.

“We are finding that mortgage lenders and their customers are beginning to expect the digital closing option, and service providers unable to deliver that are falling behind the curve,” said Mark McElroy, CEO, Pavaso. “First Title, however, has long been among the early adopters when it comes to new and consumer-focused technology. As a result, this partnership is a natural fit which will only accelerate the ongoing digital transformation industrywide.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Partners Deliver Collaborative eClosing With eNotarization

Pavaso has partnered with Utah-based mortgage lender Intercap Lending, Salt Lake City-based Elevated Title and Columbus, Ohio-based Signature Closers to deliver an eClosing experience during which the lender, title company and notary provider all collaborate within the Pavaso portal to complete the closing.

On March 26, 2018, Intercap Lending used the Pavaso platform to electronically close its first loan with national title company Elevated Title and Signature Closers, a technology enabled notary and closing firm that partners with agencies nationwide. The partnership represents a true collaboration between lender, title company and closer using a single technology as its platform.

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40 years ago Intercap Lending started in the mortgage industry.  Their commitment to adapt and evolve to consumer demands allows them to continually add value to their customers. By shortening the process and collaborating with all parties to streamline the process, they deliver a better experience to their customers.

Pavaso’s built-in eNotarization capabilities allows borrowers to sign and notaries to verify and stamp documents digitally, executing the closing package more efficiently and securely. Pavaso’s Digital Close platform is scalable from hybrid closings (part ink, part digital) all the way to a full eNote and eVault capabilities. All parties to the transaction can execute a seamless eClosing process that provides transparency and education, supporting fairness to the borrower throughout the transaction.

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“Adapting to a rapidly evolving market has always been an important part of Intercap Lending’s ethos,” said Josh Romney, chairman and owner of Intercap Lending. “Our biggest asset is the trust and loyalty of our customers. Incorporating new technologies, such as eClosing, that help our customers have a better experience with our platform helps us continue to provide a level of service to our customers that surpasses that of our competitors.”

“So often the national lender doesn’t think about the client’s closing experience. They don’t realize that the last thing the borrower remembers is the closing process,” said Sally Farrar, Elevated Title’s CEO. “The lender can offer a streamlined, cutting-edge, online loan experience, but then, they turn their borrower over to a traditional title company that requires a borrower to go to an office or, sign with a notary, hundreds of documents. This can ruin the borrower’s entire loan experience.”

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“Today’s consumer demands transparency and efficiency to enable a smooth closing experience,” said Dan McGrew, COO, Pavaso. “IntercapLending, Elevated Title and Signature Closers have proven themselves leaders in the industry when it comes to using the best technology for the benefit of the consumer. In partnering with Pavaso, these companies have signaled the industry that the digital closing is no longer a “nice-to-have,” but rather, an essential ingredient in the consumer experience.”

“It’s extremely fulfilling to take part in the eClosing transformation in our industry working with partners like Elevated Title, Intercap Lending, and Pavaso,” said Mark Fleming, Jr., President Signature Closers, LLC. “The high level of communication and trust developed between our companies creates a simple, efficient process for signers across the country and allows us to continue to stay true to our mission of serving others in a responsive, first class way.”

Vendors Partner To Help Foster Digital Mortgage Adoption

Pavaso, Inc. (Pavaso), a provider of digital closing and collaboration solutions for the mortgage and real estate lifecycle, has selected eOriginal to support lenders in the digital mortgage process. Specifically, Pavaso will utilize eOriginal’s electronic promissory note (eNote) and electronic vaulting (eVault) services.

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The collaboration between the firms will complete the final steps of the online mortgage process by facilitating a digital closing, which includes the creation, execution and vaulting of an eNote for the delivery to the secondary market. The use of the eNote and eVault will accelerate the time that typically lapses between origination and replenishment of capital.

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“Participants in the mortgage ecosystem are increasingly seeking ways to maximize the benefits of a digital transformation,” said eOriginal General Manager of Digital Mortgage Simon Moir. “By partnering with leaders like Pavaso, we are providing key components for the end-to-end digital transformation of mortgage.”

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eOriginal’s platform delivers a fully digital mortgage and supports every type of digital closing strategy. Available for both Mortgage Electronic Registration System (MERS) and non-MERS loans, the platform has been vetted in mortgage, auto finance and lease, deeded vacation ownership, and marketplace lending. It is accepted by the major rating agencies, issuers’ counsel, top lenders and investors in the secondary markets. The platform can leverage any loan origination system (LOS) or document preparation provider and is designed to be extensible as lenders complete their digital transformation.

“Our partnership with eOriginal, in combination with multiple mortgage lenders, will help complete the circle in the digital mortgage transaction, bringing it one step closer to reality and to meeting today’s consumers expectations,” said Mark McElroy, CEO for Pavaso. “eOriginal is a highly-regarded provider, and its eVault and eNote solutions are powerful. As a result, this partnership will push the broader secondary market to fully incorporating the digital concept as a daily reality.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Vendors Integrate Doc Prep And Digital Closing Platforms

Pavaso, Inc. (Pavaso), a provider of digital closing and collaboration solutions for the mortgage and real estate lifecycle, has partnered with Gregg & Valby, LLP (Gregg & Valby), a Texas law firm and technology provider with a 40 year history of representing financial institutions and independent mortgage companies.

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The partnership will integrate the technologies of both companies, allowing for a seamless transfer of nationwide closing documents into the Pavaso Digital Close platform electronically. Gregg & Valby serves clients across the country in document preparation and legal and regulatory compliance matters for both mortgage loan origination and servicing activities. The Firm also provides nationwide mortgage loan fulfillment services.

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Pavaso’s Digital Close is a powerful closing solution that enables mortgage lenders and their business partners and consumers to communicate, collaborate and work in one central virtual location. This alliance not only meets the demands of today’s tech savvy consumers, but it streamlines workflows, provides extraordinary efficiency and helps organizations increase productivity by eliminating manual steps.

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Gregg & Valby Managing Partner, Scott Valby, feels the partnership will create a powerful advantage for clients. “We represent firms and people seeking maximum results and superior service,” said Valby. “Pavaso is the proven industry leader when it comes to making the transaction seamless.  For our clients, that means optimal efficiency; a smooth customer experience, and, above all, the very best results.”

“Gregg & Valby is renowned for its service, results and integrity, which promises outstanding results for this partnership,” said Mark McElroy, President and CEO of Pavaso. “We eagerly anticipate delivering the tools and expertise needed for the Firm and its clients to evolve and achieve digital transformation. Partnerships like this demonstrate which firms are choosing to create a better path for consumers by providing a modern, transparent way forward.”

About The Author

Tony Garritano

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.

Secretary Of State Approves New Electronic Notary Solution Provider

The Office of Secretary of State Mark Martin has announced the addition of Pavaso, Inc. as an electronic notary (eNotary) solution provider for Arkansas. Pavaso is a digital closing platform that brings together homebuyers, mortgage lenders, real estate agents and title companies in one seamless collaborative portal to deliver a better closing experience for everyone.

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Nancy Pratt, Pavaso Vice President for Partner Relations and Government Affairs, said, “We are excited and enthused to be approved to provide eNotarization in the great state of Arkansas!  Homebuyers, Lenders and Settlement providers will all have an improved and outstanding mortgage eClosing experience because of Arkansas’s focus and support of the digital transformation!”

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The Arkansas Secretary of State’s Office has been commissioning eNotaries in Arkansas since 2013. Arkansas’ eNotary program strives to improve the efficiency of the notarization process by increasing notarization options, reducing paper waste and providing highly secure authentication and storage options for Arkansans’ legal documents.

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“Electronic notarization & e-closings will revolutionize the real estate and mortgage industries. This technology will change the way people conduct business. We are pleased to welcome another solution provider option as Arkansas’ nationally recognized eNotary program continues to grow,” said Secretary Martin.

Pavaso joins previously approved eNotary solutions providers DocVerify, World Wide Notary, and Corporation Service Company.

Equity National Title Now Conducting eClosings With Pavaso

Equity National Title, a national provider of title and settlement services is now able to deliver eClosings with Digital Close through Pavaso, Inc., a provider of digital closing solutions for the mortgage industry.

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More specifically, Equity National Title can now deliver hybrid eClosings in which select documents, such as the Deed and Note, are printed and “wet-signed,” but much of the closing package is executed electronically. ““An awesome closing experience for our customers and their borrowers is our primary focus and the digital closing experience is one that more and more of our lending partners are demanding,” said Jim O’Donnell, President of Equity National Title. “Pavaso’s technology is being used by a number of our lender clients, and we’ve found that they deliver fantastic support as well as flexibility through the hybrid option when we need to close on any combination of paper and digital.”

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Pavaso’s Digital Close accommodates paper, hybrid or fully digital closings.  It also enables efficient online communication and collaboration between the real estate agent, lender, title/settlement agent and borrower during the entire closing process. The digital closing platform provides built-in eSign and eNotarization capabilities, allowing borrowers to sign and notaries to verify and stamp documents digitally. Although there are still some traditionally wet-signed documents, this allows the majority of the closing package to be executed more efficiently and securely.

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“Each time a national provider like Equity National Title adopts an eClosing process, the digital transformation of the mortgage becomes much more widespread—even much more mainstream,” said Mark McElroy, President and CEO of Pavaso. “With a large title network for digital mortgages emerging, it’s really only a matter of time until eClosings are a staple for businesses.”