Plano, Texas-based Pavaso and eOriginal partnered to digitalize the final step of the digital mortgage process.
Pavaso is a provider of digital closing and collaboration solutions for the mortgage industry, while eOriginal is a provider of Digital Transaction Management solutions.
Through the partnership, Pavaso will utilize eOriginal’s electronic promissory note (eNote) and electronic vaulting (eVault) services.
And as a result, the closing process will become fully digital, which includes the creation, execution and vaulting of an eNote for the delivery to the secondary market.
"Our partnership with eOriginal, in combination with multiple mortgage lenders, will help complete the circle in the digital mortgage transaction, bringing it one step closer to reality and to meeting today’s consumers expectations,” said Mark McElroy, CEO for Pavaso.
“This partnership will push the broader secondary market to fully incorporating the digital concept as a daily reality,” said McElroy.