eNote & eVault
eClosings with Pavaso allow for flexibility in the eMortgage process
Pavaso helps lenders move towards a completely paperless closing by supporting the use of eNotes that are digitally signed using a tamper-evident digital signature on the Pavaso platform and securely deposited into the eVault selected by the lender.
The Process is Simple
1. The eNote and other loan closing documents are sent to Pavaso
2. When ready, lenders can provide their designated settlement provider access to the transaction in Pavaso
3. If applicable, the settlement provider adds the title closing documents to the transaction in Pavaso
4. The lender or the settlement provider invites the borrower(s) to review the documents before the signing
5. The signing can be conducted with a hybrid or fully digital in-person or Remote Online Notary (RON) eClosing* on the Pavaso Platform
6. The digitally signed, tamper-sealed eNote and other appropriate documents are deposited into the eVault of the lenders choosing to be securely stored
*Due to platform capabilities, state law or regulation, state executive orders, or all, electronic notarization and remote online notarization are not available in all areas.
Benefits of eNotes & eVaults
→ Pavaso is integrated with many leading eVault providers and offers flexibility to use a lender’s current provider or establish a new integration
→ Lenders and settlement providers can collaborate and provide borrowers with all closing documents and information for their review ahead of the settlement, anytime, anywhere
→ Each closing has its own audit log to track actions performed
→ For RON transactions, all permissible parties have access to a video recording of the complete signing session or the eSigning and remote online notarization, in accordance with state law
→ Watermarked copies of the eVaulted documents may be available within the Pavaso platform, depending on the eVault providers’s integration with Pavaso
