A 30+-year veteran of the mortgage and title industries, Nancy Pratt has been an evangelist for the adoption of technology in the mortgage industry. Leveraging Pratt’s extensive eMortgage background and leadership, Pavaso has been able to provide a technology solution to the industry that reduces closing times to an average of 30 minutes, with some taking 15 minutes or less.
Furthermore, Pratt played a pivotal role in Pavaso’s selection for the CFPB’s eClosing pilot, bringing the firm to the CFPB’s attention during the selection process. As a relative newcomer to the mortgage industry, Pavaso’s selection for the pilot was significant, as most of the other vendors had long-established histories in this space.
Pratt’s experience in conducting these types of transactions in her previous position enabled Pavaso to achieve outstanding results that far exceed the overall results reported by the CFPB in early August 2015.
With Pratt’s efforts and leadership at Pavaso, more than 25 companies are currently conducting eClosing transactions using Pavaso’s solutions, totaling over 2,300 transactions in 2015. Her direct involvement and understanding of government regulations has enabled her to provide top-notch guidance and insight to the overall strategy of Pavaso and, in turn, usher in advancements of eClosings by delivering leading edge technology to the industry.
Pratt was a member of the Fannie Mae eMortgage innovation team, performing the first complete eMortgages with lenders, and conducting the first ever FHA and VA eClosing.
The Mortgage Industry Standards Maintenance Organization (MISMO) recently elected her as co-chair for the eMortgage Workgroup. She is a member of the ALTA government affairs, public relations, state regulatory action and technology committees. She is a member of PRIA, MBA, MISMO, ESRA, RESPRO and the National eNotarization Board.