When Pavaso was founded in 2011, the mortgage industry was just beginning to shift toward a more streamlined, automated and digital process. As one of the first creators of an eClosing platform, Pavaso has been focused on the future of closings and delivering a more holistic approach that unites all parties involved in the closing process in one secure portal.
“We are proud to be an industry innovator, guiding the adoption of eClosings, along with continuing to educate the industry to embrace technology to satisfy customer expectations in the digital age,” said Pavaso’s SVP of Business Development Tim Anderson.
Pavaso’s eClosing platform includes Digital Close Enterprise for business purposes and Digital Close for consumers. In-person eNotary and remote online notary tools, along with the capability to eSign an eNote and securely eDeliver it to the selected eVault provider, are available within Digital Close Enterprise.
The eClosing solution connects all permissible parties to review and digitally or wet-sign documents; exchange information; and communicate and collaborate in real time. Additionally, both homebuyers and sellers have access to lender- and/ or title- provided educational materials and resources that can be linked directly into corresponding documents – all for a superior customer experience.
The platform is designed to enhance and expand existing relationships and processes for lenders and title companies – not replace them. If existing relationships are not ready to transition to eClosings, users have the option to connect with businesses already utilizing the platform.
“Every member of Pavaso’s client-centric team, from account management, implementation, training and support, is available and ready to help every step of the way to ensure a successful transition from a paper closing to an eClosing process,” said Jay Hollis, vice president of product strategy at Pavaso.
Pavaso’s eClosing platform offers the flexibility to provide four different closing options to customers, including remote online notarization, fully digital, hybrid and traditional. It also allows users to complete post-close activities quicker by reducing errors at closing and delivering the final closing package digitally faster, after completion of the eClosing. Additionally, when an eNote is included in the transaction and transferred to an eVault from Pavaso, a watermarked copy is available to permissible parties on the platform.
Through the platform...
Homebuyers and sellers can:
- Review and indicate their intent to sign the documents ahead of the closing
- Stay connected and informed throughout the closing process through communication features on the secure platform
- Complete a closing in as little as 15 minutes
Lenders and title companies:
- Provide a superior customer experience and service
- Deliver a competitive market differentiator
- Improve data integrity and loan quality
- Reduce time, cost and errors at closing
“Pavaso’s platform empowers lenders, title companies and real estate attorneys with tools to deliver fully digital and hybrid eClosings through one secure platform — streamlining the entire closing process,” Anderson said.
Tim Anderson, SVP of Business Development
Tim Anderson is responsible for developing products, strategies and relationships that drive adoption of Pavaso. He brings over 25 years of industry experience on both the lending and vendor sides of the business. Anderson is known for promoting strategic applications and trends in technology, including ESIGN and MISMO category one SMARTDocs.
Jay Hollis, VP of Product Strategy
Jay Hollis was promoted to director of product management and helped to design the Pavaso platform, Digital Close and Signing Table applications from the beginning. Hollis focuses on designing new products and enhancements to Pavaso’s solutions. He also works with the development and marketing teams to ensure that all solutions meet defined requirements and provide a quality user experience.