Charlotte, N.C. (July 26, 2018) – Amrock, the nation’s largest independent provider of title insurance,
valuations and settlement services, recently completed its first eClosing in the state of North Carolina.
The mortgage was closed with the help of Pavaso’s Digital Close Platform incorporating In-Person
Electronic Notarization (IPEN) technology, which replaces the traditional pen-and-paper process with
electronic signatures. Not only was this Amrock’s first eClosing in North Carolina, it was also the
company’s first ever IPEN closing – moving on from the previously used hybrid eClosings which still
required some documents to be hand-signed. This new approach offers a more streamlined closing
experience, while maintaining a personal element between the signing agent and the client.
“Technology is transforming the way we do business,” said Amrock President Brian Hughes. “Whenever
we have an opportunity to streamline a process or make it easier for our clients, we seize it. With the
IPEN process, we are finally realizing a completely digital homebuying experience – giving our clients
more confidence and clarity in the mortgage process. We are proud to launch this in North Carolina, and
we are working to make the technology available across the country.”
In addition to eliminating the need for hand-signing documents, digital closings can prevent errors in the
process. This digital method removes the possibility of the client or signing agent overlooking a portion
of the document requiring a signature. Such mistakes can lead to delays in the closing process. With a
fully digital closing, the documents cannot be submitted until all areas requiring signatures are
North Carolina Secretary of State Elaine F. Marshall has been a leading advocate for eClosings in North
Carolina as part of a years-long drive to modernize traditional business practices, including a
comprehensive legal structure for electronic notarizations.
“We’re excited to have this technology available in our state,” said Secretary Marshall. “IPEN mortgage
closings offer advantages over the traditional paper-based system for everyone involved in the process.
This technology can be used to simplify the process, speed up eClosings, maintain strong identity
verification and reduce the chance for errors or omissions – something we are always looking for.”
Amrock’s IPEN process is the product of its partnership with Pavaso, a technology company and the
developer of a collaborative digital closing platform. While many home loans are originated online, the
closing – the last step in the mortgage process – has, until recently, required clients and signing agents
to sign dozens of hard-copy loan documents. With the IPEN process, clients can finish the mortgage
process digitally through a simplified, in-person closing.
“Our mission is to radically improve the mortgage process – while focusing heavily on consumers’
experience,” said Mark McElroy, CEO Pavaso. “Our partnership with Amrock is key to helping us fulfill
that mission and make the closing process more efficient, transparent and educational for everyone.”
Amrock partnered with Brady & Kosofsky, P.A., a real estate title firm located in Matthews, North
Carolina, to serve as the signing agent for this Quicken Loans originated mortgage. Amrock has now
successfully conducted more than 1000 eClosings across six states in 2018 alone, with all three types of
eClosings combined (hybrid, IPEN and Remote Online Notarization). That number is expected to grow
exponentially in the coming months as the company works to make eClosings available nationwide.
Amrock Inc., formerly known as Title Source, is the nation’s largest independent provider of title
insurance, valuations and settlement services. The company delivers innovative solutions to streamline
the real estate and mortgage financing experience for lenders, property owners and real estate
professionals nationwide. The company, along with its 2,500 team members, is headquartered in Detroit
and maintains regional operating centers in California, Ohio, Pennsylvania and Texas. For more
information and company news, visit amrock.com.
Texas-based Pavaso is transforming the mortgage process with radically innovative digital mortgage
closing technology facilitating fast, consistent, accurate and compliant closings every time. Pavaso offers
a single, collaborative, secure portal promoting transparency, efficiency, consumer education and
communication in a seamless format delivering value to every stakeholder involved in the transaction. For
more information, visit pavaso.com.