Old Republic Names Pavaso as National eClosing Technology Provider
Old Republic National Title Insurance Company (ORNTIC) has unveiled a national digital strategy that involves exclusive use of Pavaso. Pavaso's eClosing platform already is transforming the mortgage process with radically innovative digital technology that facilitates: Fast, consistent, accurate and compliant closings.
"Technological advances as well as shifting market demands and demographics make it clear that the title insurance industry is moving quickly into the digital space,” said Rande Yeager, Chairman and Chief Executive Officer, Old Republic National Title Holding Company. “Our early support and commitment to the development and implementation of Pavaso represents a significant tactical step in advancing our offerings to today's customers and tomorrow's capital markets. The goal of our digital strategy is to provide eClosing experiences that are streamlined for everyone."
Mark Bilbrey, President of Old Republic National Title Holding Company, said, “As a result of the digital shift in processing real estate transactions, we anticipate there will be market disruptions in our industry in the future. We are now inviting our title agents to adopt Pavaso technology, so they will be prepared and in the best possible position to adjust to future market disruptions and mitigate risk for their companies."
Mark McElroy, Chief Executive Officer of Pavaso, said, "Old Republic Title's implementation of Pavaso technology creates a national 'digital' network of title and closing agents fully capable of closing anything from paper to fully digital transactions. The result is a modern ecosystem for the real estate agent, mortgage lender and title agent, that puts the consumer front and center. Old Republic Title's Pavaso solution integrates disruptive technologies like BlockChain and electronic notary, and allows title agents to assimilate a suite of complimentary applications into a single portal. eClosing is no longer the future; it's the here and now."