More than half of all eNote closings registered on the MERS eRegistry thus far in 2018 have been closed through Pavaso’s platform, the company announced.
MERSCORP Holdings, Inc., which owns and manages the MERS eRegistry, said more than 3,000 eNotes have been registered to the registry year to date in 2018. Pavaso said more than half were closed through its Digital Close Enterprise.
“These numbers clearly establish Pavaso as a leader in eNote execution and delivery,” Pavaso President and CEO Mark McElroy said in a release. “We believe more lenders are choosing Pavaso to create and execute eNotes because of its unique ability to incorporate all stakeholders in a single portal, including title agents. No other technology in our industry does that.”
According to McElroy, the Pavaso platform decreases costs by streamlining workflows, since it allows all parties, including lenders, title companies, borrowers and the borrower's agent, to collaborate in one central location.
“Pavaso helps lenders save money by creating greater investor liquidity, thereby reducing warehouse turn times,” McElroy added. “Plus, Digital Close Enterprise’s automated auditing capabilities and reports enable all parties to eliminate errors and maintain compliance with all applicable regulations and investor requirements. There's no other platform that makes digital closings so safe and easy.”