Frequently Asked Questions

An eClosing is the act of closing a real estate transaction electronically. This occurs through a secure digital environment where some or all the closing documents are accessed and executed electronically.

There are many benefits when completing an eClosing, including:

• Enhanced customer experience
• Reduced cost, risk and time to close
• Standardized closings
• Improved accuracy and efficiency
• Close with confidence
• Expedited funding

To learn more regarding the additional benefits of completing eClosings with Pavaso, lenders, title companies and real estate attorneys you may visit the following pages:

• Lenders
• Title companies & real estate attorneys

Currently, the industry utilizes five ways to close:

• Traditional Closing
  Parties appear in person and wet sign and notarize printed documents.
• Hybrid eClosing
  Parties appear in person to eSign most documents, wet sign certain printed documents and notarize or eNotarize* as permitted.
• Full eClosing
  Parties appear in person to eSign and eNotarize all documents.
• Remote Online eClosing
  Parties attend the closing remotely using two-way audio-video technology to eSign and remotely eNotarize all or most documents.
• Remote Traditional Closing
  Currently available by Executive Order only, parties attend the closing remotely using two-way audio-video technology, where the notary observes the wet signing of the documents. The wet-signed documents are returned to the notary for them to complete the certification and execution and affixation of the official notary stamp or seal.

Visit our eClosing 101: Closing & Notarization Types Explained page, to learn more

There are currently four types of notarizations and eNotarizations available:

• Traditional Wet Ink Notarization (TWIN)
  Documents are wet ink notarized, in the presence of the notary.
• In-Person Electronic Notarization (IPEN)*
  Notarizing documents electronically with an electronic seal using an internet-enabled device.
• Remote Online Notarization (RON)*
  Electronic notarization with participation from separate physical locations using two-way audio-video technology.
• Remote Ink-Sign Notarization (RIN)**
  Documents are printed and wet ink signed while notary observes via two-way, audio video technology. Those documents are delivered to the notary for certification, execution and affixation of the official notary stamp or seal.

Visit our eClosing 101: Closing & Notarization Types Explained page, to learn more.

Pavaso is a full-service closing platform that supports all real estate closing options, including traditional, fully paperless and hybrid eClosings, which may utilize in-person eNotarization (IPEN), remote online notarization (RON) and remote ink-signed notarization (RIN) solutions. With Pavaso you also have the flexibility to perform contact-free eClosings and change the type of closing at settlement when needed.

Each state in the U.S. has specific laws and regulations regarding eRecording, eNotary, RON, RIN, and eSignatures. It is at the lender and title’s discretion on whether they will use a full eClosing.

Pavaso offers three contact-free closing solutions. Visit the following pages to learn more about each one:

• In Person (IPEN), contact-free
• In Person (IPEN)
• Remote Online Notary (RON)
• Remote Ink Notary (RIN)

An electronic representation of a promissory note that is created based on the MISMO® tamper-evident SMART Doc® standard and is executed during an eClosing.

An electronic storage facility for executed eNotes.

An eMortgage is produced when an eNote is created and executed during an eClosing process, then transferred and stored electronically. eClosings result in eMortgages only if the promissory note is in a smart document format and signed electronically.

The MISMO eMortgage Guidelines and Recommendations are available at mismo.org.

eSign simply replaces a wet signature with a digital signature and is just one component of an eClosing. eClosings encompass the entire Pre-Closing, Closing and Post-Closing phases of the transaction.

Visit our eClosing 201: Understanding eClosing as a Process page to learn more.

eNotes can be digitally signed and tamper-sealed on the Pavaso platform and be deposited into an eVault. We currently integrate with a number of eVault providers and work on new integrations as needed to transfer the digitally signed tamper-sealed eNote and other appropriate documents to be securely stored.

Both federal and state legislation form the legal basis for eNotes and eSignatures. In 2000, Congress passed the Electronic Signatures in Global and National Commerce Act (ESIGN). All 50 states have either adopted laws modeled on the Uniform Electronic Transactions Act (UETA) or have their own statutes regarding electronic signatures. Please consult your legal advisor for more details about these laws.

Yes. Fannie Mae and Freddie Mac have long-accepted electronic signatures on all or most closing documents. There might be additional requirements and approval processes when seeking to deliver, service or sell an eMortgage.

The list of investors who are purchasing loans completed through an eClosing process is growing quickly.

No. We work with you to help you choose the approach that works best for your company. We can take it one step at a time, beginning with hybrid eClosings or any other type of closing you prefer and create a bridge to move your business to full eNotes when applicable.

Yes, you do not need a lender to start completing eClosings with Pavaso. As a title company or a real estate attorney firm, you can start with cash and/or seller side transactions. Starting this way benefits you, as you will familiarize yourself with the eClosing process and can be better prepared to support your lender affiliates as they begin to implement eClosings themselves.

You will be able to leverage existing integrations or establish new ones with a lender’s doc prep provider, a title production system, or documents can be added by a simple upload.

Initial or updated title and lender documents sent to Pavaso via an integration or manual upload will be available in one place. Settlement providers will not need to log into another system to access documents unless they are instructed to do so by the lender.

Signature, initials and other tags are available either via an integration or tag document templates specific to your company. If the tag capability is not available via an integration, during implementation we help you create templates for your company to automate the application of tags when documents are sent or uploaded into Pavaso. However, we suggest that you review the applied tags on the documents before inviting the signers to access them to ensure that modifications are not required. If any of the tags are missing, you can quickly add them with the InstaTag toolbar.

Pavaso supports all closing types, including hybrid eClosings. Whether the documents will need to be printed and wet signed, depends on the lender’s and/or title’s process and requirements, applicable, laws, regulations, and executive orders applicable to each signing session.

The executed closing package will be saved on the Pavaso Platform and be accessible by all permissible parties in the transaction. It is not required to print the closing package, however there might be instances that a closing package may need to be printed to complete post-closing actions.

Yes. The signers will be invited to create an account on Pavaso to review their closing documents prior the signing session.

If the signers do not review their documents ahead of the closing, they can review the documents at the closing table with the closer or notary. The Pavaso platform does not require signers to review every document; however, it is required that they finalize their pre-closing document review, either by reviewing most or all of the documents or skipping the review, if they desire.

Yes. The Pavaso system requires each party associated with a transaction to login to their own account to complete their pre-closing document review prior to closing or they can skip it and review documents at the closing table.

Yes, the same device can be used to complete the pre-closing document review; however, each signer needs to login to their own account to review their documents.

If more than one signer is required to participate in the remote signing, all signers can enter the signing session at the same time. Each signer can use their own laptop, desktop, or the IOS 11+ RON app for the Apple ® iPad ® or more than one person can use the same compatible device to enter and complete the RON signing during the same session. When the same device is used, the signers should pay attention to the names appearing on the screen or the pop-ups and follow the notary’s instructions to complete the knowledge-based authentication (KBA), ID validation and all digital tasks required by them.

Yes. The signers will have the ability to access, download or print the executed documents after the title company, attorney firm and/or lender have finished the closing.

Yes. The signers have the ability to opt-out from both the electronic delivery and eClosing of their transaction.

Yes. Pavaso has functionality that allows for in-person or remote witnesses to participate in a signing session, as required.

Security measures incorporate industry best practices, including multifactor authentication and stringent-yet-simple user procedures. We understand and respect the importance of your customers’ data and privacy. Pavaso takes data privacy seriously and we do NOT sell any data to third parties under any circumstances. For more details, please see our security page.

Lenders, title companies, real estate attorneys, and/or signing agencies can collaborate on Pavaso to provide eClosings to their customers.

Select from the options below and one of our representatives will contact you to answer your questions, coordinate the contract, implementation and training:

• New lender interest form
• New title interest form
• New signing agency interest form

Pavaso does not offer its platform directly to independent mobile notaries who are not associated with a title company or signing agency already working with Pavaso.

Implementation with Pavaso is not an IT project. Pavaso is a cloud-based software with easy setup and little to no additional technology investment requirement(s)+. Training is provided online through webinars that are live or pre-recorded and completed at your own pace. The timeframe for implementation depends on your specific needs and what types of eClosings you use.

Please visit our system requirements page for complete details.

We have many integrations established with doc prep providers, LOS, TPS, and eVault providers that cover a wide range of needs. As a true full-service eClosing platform, we are continually expanding our strategic integrations to deliver process improvements throughout application, pre-closing, closing and post-closing.

Yes. We work with you to leverage existing pass back integrations or establish new ones to help you take full advantage of the eClosing process.

Training is provided online in an at your own pace or live webinar formats; no on-site visit or set up is required. We work with you to prepare your team to complete signings for each eClosing option you request.

Mobile notaries working with a signing agency or title company go through a separate training than a title company or attorney firm employee to become Pavaso Certified. Visit our notaries page to learn more and start your training.