Pavaso, Inc. (Pavaso), a provider of digital closing and collaboration solutions for the mortgage and real estate lifecycle, today announced that it has selected eOriginal to support lenders in the digital mortgage process. Specifically, Pavaso will utilize eOriginal’s electronic promissory note (eNote) and electronic vaulting (eVault) services.
The collaboration between the firms will complete the final steps of the online mortgage process by facilitating a digital closing, which includes the creation, execution and vaulting of an eNote for the delivery to the secondary market. The use of the eNote and eVault will accelerate the time that typically lapses between origination and replenishment of capital.
“Participants in the mortgage ecosystem are increasingly seeking ways to maximize the benefits of a digital transformation,” said eOriginal General Manager of Digital Mortgage Simon Moir. “By partnering with leaders like Pavaso, we are providing key components for the end-to-end digital transformation of mortgage.”
eOriginal’s platform delivers a fully digital mortgage and supports every type of digital closing strategy. Available for both Mortgage Electronic Registration System (MERS) and non-MERS loans, the platform has been vetted in mortgage, auto finance and lease, deeded vacation ownership, and marketplace lending. It is accepted by the major rating agencies, issuers’ counsel, top lenders and investors in the secondary markets. The platform can leverage any loan origination system (LOS) or document preparation provider and is designed to be extensible as lenders complete their digital transformation.
"Our partnership with eOriginal, in combination with multiple mortgage lenders, will help complete the circle in the digital mortgage transaction, bringing it one step closer to reality and to meeting today’s consumers expectations,” said Mark McElroy, CEO for Pavaso. “eOriginal is a highly-regarded provider, and its eVault and eNote solutions are powerful. As a result, this partnership will push the broader secondary market to fully incorporating the digital concept as a daily reality.”
Pavaso specializes in delivering a fully digital closing experience through its industry-leading platform.
For more information, go to www.pavaso.com.
About Pavaso
Texas-based Pavaso is transforming the mortgage process with radically innovative digital mortgage closing technology facilitating fast, consistent, accurate and compliant closings every time. Pavaso offers a single, collaborative, secure portal promoting transparency, efficiency, consumer education and communication in a seamless format delivering value to every stakeholder involved in the transaction. For more information on how you can streamline your process and digitally transform your organization, call us at 866.288.7051 or visit www.pavaso.com.
About eOriginal
eOriginal is the leading provider of Digital Transaction Management solutions to the financial services industry. The eAsset® management platform is 100 percent secure, enabling originators, custodians, investors and others to digitize lending and securitization processes. eOriginal solutions ensure that every transaction is verifiably secure, legally compliant and enforceable. As the first company to execute a digital mortgage, eOriginal is also core to the digital transformation of the mortgage industry. For more information, visit https://www.eoriginal.com/.