eTitle Agency Inc. has announced a partnership with
Pavaso Inc. By partnering with Pavaso, eTitle is now capable of conducting totally digital, as well as hybrid eClosings, in which select documents, such as the Deed and Note, are printed and “wet-signed,” but much of the closing package is executed electronically. Wet-signed documents are then imported into the Pavaso portal for a complete digital loan package.
“Our goal at eTitle is to provide a simple online closing and settlement process for the borrower,” said Mike Telford, Senior Vice President for eTitle Agency. “The Pavaso eClosing platform delivers this on all fronts. We are excited about the future of eClosings. We look forward to working with Pavaso and our lender clients to provide the absolute best consumer experience possible.”
Pavaso’s Digital Close not only facilitates an outstanding consumer experience, but also provides a means for lenders and title companies to verify all loans closed on the platform are accurate and compliant. The platform accommodates paper, hybrid or fully digital closings and enables efficient online communication and collaboration between the real estate agent, lender, title/settlement agent and borrower during the entire closing process. With built-in eNotarization capabilities, notaries can verify and stamp documents digitally and by digitally delivering all documents for consumers review, the time to close is dramatically reduced. Although there are still some traditionally wet-signed documents, Pavaso Digital Close allows the majority of the closing package to be executed more efficiently and securely.
“The digital closing no longer exists only in theory or hope,” said Mark McElroy, President and Chief Executive Officer of Pavaso. “It’s becoming more and more evident that industry leading lenders and title companies are moving to a digital platform that is a reality—here and now. The hybrid option allows us to overcome any temporary obstacles, and bridges the gap to the totally digital experience. As a result, our industry is finally beginning to meet consumer demand for an easier and more modern closing experience.”
