Pavaso Launches Program to Aid TRID Compliance, Enhance Consumer Experience

May 7, 2015

Pavaso has announced an accelerated path for businesses to implement digital closings in order to prepare for sweeping industry changes on Aug.  1, when the TILA-RESPA Integrated Disclosures (TRID) go into effect. 

In a release, Pavaso said its “Fast Track” program provides a quick, low-impact implementation of its Digital Close solution in two weeks.  Pavaso said the program helps lenders and title companies tackle the larger issue of TRID that is still largely overlooked in the industry—the consumer’s experience.

“Go-live for the TILA-RESPA Integrated Disclosures is an unprecedented event that offers a once in a lifetime opportunity for lenders, title companies and Realtors to quantum leap their competition into the new world of mortgages and real estate closings,” said Mark McElroy, president and CEO of Pavaso.  “Regardless of compliance methods or how you choose to create the forms, Pavaso fills the gap by bringing the real estate team together with an extreme focus on the consumer.”

The Pavaso platform accounts for and creates a unified process of closing real estate, offering functionality for each stakeholder to service the consumer and other parties involved in the transaction.

“Over the last few months, the acceptance and implementation of Pavaso's solution has accelerated dramatically, but we felt everyone needed to get there even faster,” says McElroy.  “We developed Fast Track to get them there quickly with the lowest amount of impact possible.  We are now providing the pathway to achieve closings in less time for less money, fully tracked and audited, with inclusion of all the stakeholders, and specific business process improvement all in one step.”

This program eliminates large capital investment and lengthy implementation timeframes, Pavaso said. 

“With no hardware requirements, and no long and expensive training or rollouts, this plan was designed to fit perfectly with businesses current plans, regardless of what they are, and establish the future today,” the company said in a release.

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