In an effort to prepare for August 1 TRID changes, Pavaso recently introduced a new program designed to help companies easily transition to digital closings called “Fast Track.” The program is intended to help lenders and title companies provide a better consumer experience for the upcoming law changes. Pavaso reports that the Digital Close solution takes only two weeks to complete.
“Over the last few months, the acceptance and implementation of Pavaso's solution has accelerated dramatically, but we felt everyone needed to get there even faster,” said Mark McElroy, president and CEO of Pavaso. “We developed Fast Track to get them there quickly with the lowest amount of impact possible.
Pavaso announced that the platform aims to deliver education, transparency, and participation to participants, and also to set participants up as a “customer for life” with each provider. Pavaso says that lenders, title companies, and Realtors will be able to use Digital Close platform as a bridge to provide consumers with great service. It will also create a unified process of closing real estate, offering functionality for each stakeholder to service both, the consumer and each other throughout the process.
“Go-live for the TILA-RESPA Integrated Disclosures is an unprecedented event that offers a once in a lifetime opportunity for lenders, title companies, and Realtors to quantum leap their competition into the new world of mortgages an real estate closings,” McElroy states. “Regardless of compliance methods or how you choose to create the forms, Pavaso fills the gap by bringing the real estate team together with an extreme focus on the consumer.”
He also adds that the program will accomplish closings in lesser time for lesser money, be fully tracked and audited, with inclusion of all the stakeholders, and include specific business process improvement all in one step. It will eliminate large capital investment and lengthy implementation times to get to work. The program has been put in place to current business plans With no hardware requirements, and no long and expensive training or rollouts, this plan was designed to fit perfectly with businesses current plans, regardless of what they are, and establish the future today.
“We are already seeing those results as 70 percent of closings to date on Pavaso are less than 30 minutes, and customer satisfaction has flipped 180 degrees from disgust to excitement, and an overwhelming response of ‘it's about time’,” McElroy said.
For more information about “Fast Track” visit: Pavaso.com.