Member First Mortgage, a credit union-owned mortgage lender providing expertise in every area of mortgage lending, from origination to servicing/subservicing, has selected Pavaso Inc., a provider of digital process and collaboration solutions for the mortgage and real estate lifecycle, to conduct hybrid e-closings for its mortgage customers.
Specifically, Member First Mortgage, which offers the full suite of mortgage products, including conventional and government programs, is using Pavaso’s Digital Close platform to originate and close mortgages almost completely electronically. With a hybrid e-closing, only certain critical mortgage documents must be “wet signed” by borrows and other parties involved in the process. A majority of the process is handled electronically.
“Making the process digital is the ultimate way to serve our customers at the highest levels of transparency, efficiency and ease of experience,” says Carmen Sherman, chief operations officer of Member First Mortgage, in a release. “Our end goals include executing e-notes, with video notarization, and transferring to an e-vault by the end of the year. In using the hybrid model now, the first step is easy for us and our investors, and the benefits to the consumer are tangible.”