Aug. 29, 2018 – Pavaso, the developer of collaborative digital real estate technologies, today unveiled its complete suite, all-in-one digital mortgage closing platform. The Pavaso Platform is a new, comprehensive enterprise solution offering that enables all parties in a real estate transaction to conduct each piece of a digital mortgage, including Remote Online Notarization, in one unified place.
The Pavaso Platform suite of products is a complete solution offering for all stakeholders in the process that facilitates collaboration, secure communication and data exchange – in a single NPI secure environment. The platform consists of a full suite of products that empower lenders, title companies, agents and borrowers to electronically deliver early disclosures, eSign documents, eNotarize, Remote Online Notarize (RON), eClose, execute full SMART Note Notes and deliver them to the Pavaso eVault.
The Pavaso Platform Suite of Products
100% SMART Doc library facilitates compliant, secure, data-portable loan files through every aspect of the real estate transaction, removing downstream risk and errors that come with stamped PDF’s and images within a file.
Seamless, NPI-secure delivery of documents to all stakeholders. Pavaso’s eDelivery capabilities allow parties to meet document delivery rules and comply with the 3-day rules for the Loan Estimate, Closing Disclosure and the entire closing package.
View and sign any document from anywhere, on any device, including iOS and Android. Allows ad-hoc documents to be signed with ease.
Digital Close Enterprise
One single, unified, powerful closing solution for Lenders, Title companies, Borrowers and Agents to collaborate and seamlessly conduct complete digital closings. Cutting-edge technology allows for the delivery of all documents for review prior to closing, eNotarization and execution of documents digitally. A digital process maximizes compliance by ensuring accuracy and delivers error-free loan packages on time boosting operational efficiencies.
Remote Online Notarization
Powerful capabilities like Remote Online Notarization provides consumers with a faster, more convenient and unprecedented closing experience. Traditionally, notaries and borrowers had to be in the same location when the borrower signed closing documents. Pavaso enables trusted, experienced closing agents to remotely notarize documents. Its innovative design allows for settlement providers to be included in the process, so they maintain control of the signing process from beginning to end. So far, Texas, Virginia, Montana and Nevada have legalized some form of remote notarizations with several more states expected to follow.
Pavaso SMART Note
Generate compliant, tamper-sealed SMART Notes that are digitally signed on the Pavaso Platform and registered with the MERS® eRegistry upon execution. Obtain a meaningful audit trail that allows Lenders to maximize compliance.
Pavaso’s eVault solution improves workflows and remove risks with seamless automated eVaulting capabilities to support a fully digital mortgage experience. Register the eNote with the MERS® eRegistry, initiate transfers, and send copies of the eNote to all stakeholders with MERS® eDelivery.
Pavaso is using the latest technologies to secure data for life of the loan and title processing. The final barrier to achieving a completely end-to-end digital closing has been solved by Pavaso who is engaging with all stakeholders in the mortgage transaction to enable an electronic exchange of data and documents which can be audited and tracked.
“For the first time, our industry has a true ‘one stop’ solution to communicate, securely exchange data and collaborate with everyone involved in the closing process in one location. The platform offers everything organizations need to streamline the closing process and to conduct completely paperless closings,” said Mark McElroy, Pavaso president and CEO. “Pavaso continues to deliver exciting products and solutions that revolutionize how closings are conducted and deliver an unmatched borrower experience.
The Pavaso Platform enables organizations to simplify workflows, maximize compliance and operational efficiencies and significantly increase productivity. The consumer-centric platform delivers a better closing experience for the consumer. The platform is unique to the mortgage industry because it offers the only solution to include title companies and deliver a truly collaborative environment between lender, title/settlement agent, real estate agent and borrower, making the entire closing process easier with one digital location to deliver all documents to view and execute. Pavaso’s platform reduces the potential for manual operational errors and improves data quality and validation. Electronic documents are less expensive to manage and eliminate the associated fees for copying, shipping and storage.
The company’s end-to-end technology is both flexible and “future-proof,” enabling users to conduct digital transactions ranging from hybrid closings to complete eNotes and can be accessed from anywhere, from any device.
“From day one, Pavaso was designed to transform the way closings are conducted with a better, more efficient process. Not only does Pavaso reduce errors and improve loan quality, it’s the first platform that gives all parties the ability to conduct every piece of a digital mortgage in one convenient location,” said Dan McGrew, COO of Pavaso. “With our platform, lenders and title agents can provide borrowers with the convenience and modern closing that they demand and deliver an experience they’ll never forget.”
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 on how you can streamline your process and digitally transform your organization, call 866.288.7051 or visit www.pavaso.com.