Pavaso, Member First Mortgage to Offer Digital Mortgage Hybrids
January 31, 2017
Pavaso, a provider of digital process and collaboration solutions, will conduct hybrid electronic closings for customer of Member First Mortgage LLC.
“Making the process digital is the ultimate way to serve our customers at the highest levels of transparency, efficiency and ease of experience,” said Carmen Sherman, chief operations officer of Member First Mortgage. “Our end goals include executing eNotes, with video notarization, and transferring to an eVault by the end of the year. In using the hybrid model now, the first step is easy for us and our investors, and the benefits to the consumer are tangible.”
In a hybrid e-closing, select documents, such as the deed and note, are printed and “wet-signed,” but much of the closing package is executed electronically. Digital Close also provides built-in e-sign and e-notarization capabilities that allow borrowers to sign and notaries to verify and stamp documents digitally. Although there are still some traditionally wet-signed documents, this allows the majority of the closing package to be executed more efficiently and securely. Pavaso’s Digital Close platform accommodates paper, hybrid and fully digital closings.
“We welcome the partnership with Member First and look forward to seeing them reap the benefits that our solutions can offer,” said Mark McElroy, president and CEO of Pavaso. “We commend their bold step towards the digital transformation of their organization and hope they inspire others to follow.”
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