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Pavaso Inc. has announced it has been approved as an eSignature vendor for digital mortgages by Irving, Texas-based Caliber Home Loans. As a result, Caliber will now accept loans from its correspondent lenders that were completed using Pavaso’s Digital Close platform for eSign or eClosing. According to industry volume rankings, Caliber Home Loans was the number five ranked correspondent lender in the nation in 2015, with its 850-plus correspondents originating more than $6.6 billion.
“It’s encouraging to see major industry players like Caliber understand the need to shift towards a more digital mortgage transaction and make strides to do so,” said Mark McElroy, chief executive officer and president of Pavaso. “While eSign is only one component of the eClosing process, adopting eSign into the closing process is an important first step in the path towards a fully digital closing, and one which will make it easier than ever for lenders like Caliber to make this transition.”
The Digital Close platform enables lenders to conduct mortgage closings in a variety of formats, from an entirely paper-based transaction to a hybrid paper-eSign environment all the way to a fully electronic closing. The platform is designed to facilitate electronic communication and collaboration between every transaction stakeholder, creating a single electronic repository for all loan documentation and communication. With eSign and eNotarization capability, everyone signs digitally and notaries can even verify and stamp the documents digitally.