Pavaso Partners With MBH Settlement Group For Digital Closings
May 8, 2018
Pavaso will collaborate with Virginia-based MBH to offer digital closings.
“The Pavaso platform will help MBH give the lenders and Realtors we work with a competitive advantage with faster, more convenient and more secure closings,” said Fred Westerlund, CEO of MBH. “Our relationship with Pavaso is just the latest example of how MBH is utilizing technology to provide superior service to all of our clients across all of our markets.”
Pavaso's technology digitizes the process so that lenders can provide a more complete loan package and reduce errors by eliminating undersigning and over signing of the closing documents leading to lower loan costs. The platform gives consumers access to the closing documents prior to closing. Pavaso’s Digital Close platform is capable of producing hybrid closings (part ink, part digital) as well as complete eNote and eVault transactions.
“Lenders and consumers alike are beginning to expect their service providers to offer a digital process, and not just in name,” said Mark McElroy, CEO, Pavaso. “Convenience; efficiency; ease of use … consumers now expect these things at closing. The traditional closing experience is no longer defensible. MBH joins Pavaso in the belief that there is no legitimate reason every borrower, loan officer and REALTOR cannot have a digital closing experience—even in regions where the law inhibits a totally paperless process. With a hybrid closing option, virtually every mortgage loan closing can now be (at the very least) mostly digital. More consumers are beginning to understand this. And more lenders are beginning to demand it.”
Contact ALTA at 202-296-3671 or communications@alta.org.