Pavaso unveiled a new suite of eClosing tools for mortgage lenders that includes remote online notary and SMART Note capabilities, the company announced in a release.
The Pavaso Platform now provides a one-stop digital closing shop that empowers all parties involved in mortgage transactions to increase efficiency, eliminate errors, improve workflow and create more informed consumers, the company said. Pavaso’s full suite of eClosing products enable lenders, title companies, agents and borrowers to electronically eDeliver early disclosures, eSign documents, remotely eNotarize documents, eClose loans, execute full eNotes and deliver closed loan files to an eVault.
“With the launch of the mortgage industry’s one-stop eClosing suite, Pavaso continues to prove it is the mortgage industry’s single best source for complete and superior digital closings designed to enhance the consumer experience,” Pavaso CEO Mark McElroy said in the release. “Our unified and collaborative portal in addition to tools like remote online notary and Pavaso SMART Note will not only help lenders attain the digital transformations they are looking for – they will also help lenders deliver the ultimate customer experience.”
Remote online notarization (RON) enables remote closings to be conducted anywhere, on any device, in as little as 15 minutes. With RON, Pavaso commissions qualified, experienced closing agents to remotely notarize documents.
“Never have we seen so much excitement over a technology like RON, which satisfies a key requirement for lenders that wish to make a digital transformation,” Nancy Pratt, Pavaso’s vice president of partner relations and government affairs, said in the release. “RON is already being used in four states that allow remote notarizations. With more states adopting remote notarizations, we expect demand for RON will continue to grow. This year alone, five more states have adopted legislation around this technology.”
The suite also includes Pavaso SMART Note, a tool that generates compliant, tamper-sealed SMART Doc eNotes to increase collateral control.
Pavaso is the developer of the mortgage industry's first collaborative digital mortgage technology to involve all stakeholders in the closing process.