Real Estate News: Pavaso Inc. Completes First End-to-End Digital Process for Mortgage and Real Estate Industry

Posted by Staff Reporter (media@realtytoday.com) on Oct 26, 2015 06:04 AM EDT
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TAMWORTH, ENGLAND - MARCH 11: In this photo illustration an array of property For Sale marketing boards lay on the ground at sign manufacturers Real Estate Advertising Ltd on March 11, 2015 in Tamworth, England. (Photo : Christopher Furlong/Getty Images)

The Pavaso Inc. has announced that their pioneering end-to-end digital process for the mortgage and real estate industry, with the addition of its sales contract negotiation tool for real estate agents, has been completed.

            The sales contract negotiation tool for real estate agents has the ability to start a deal digitally and flow through their established process with lenders and settlement agents. This tool is capable of creating a unified modern experience for consumers.

            Mark McElroy, CEO of Pavaso, said that the refined functionality of their sales contract negotiation tool was made possible, thanks to the feedback of the real estate agents who have been using their tool.

            "Real estate agent feedback has been critical to the development process [of] the Pavaso sales negotiation contract tool and has allowed us to refine its functionality," said McElroy. "Now that we are confident the tool will help agents to competitively differentiate themselves in the real estate finance transaction, we're making it available to every market across the U.S."

            According to the news from MReport, the end-to-end real estate process of Pavaso puts all transaction stakeholders together in a secure, collaborative portal. The digital real estate lifecycle can be participated by lenders, settlement agents, real estate agents, consumers, attorneys, service providers, and even investors. The new process can also provide an "evolutionary path" for the industry to enter the 21st Century due to the help of the new TILA-RESPA Integrated Disclosures (TRID) that can solve the challenges being faced by the business.

            Nancy Pratt, VP of Operations and eStrategy at Pavaso, said that with the help of their new process, businesses can easily comply with the "three days rule for the Loan Estimate and Closing Disclosure form, and even the entire closing package."

            "By offering a means for collaboration, improved consumer experience, closing process control and enabling businesses to align with the CFPB's mission and values, Pavaso's solutions evolve the home buying process from end to end," McElroy added. "This isn't just about TRID's go-live. It's about providing the industry with a clear path to evolving and catching up with consumer technology."

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