Florida-based Old Republic National Title Insurance Company [1] (ORNTIC) has unveiled a national digital strategy that involves the exclusive use of Pavaso’s [2] eClosing solution for processing digital real estate transactions in ORNTIC's direct and national settlement operations.
According to a release by ORNTIC, Pavaso's eClosing platform uses digital technology that facilitates fast, consistent, accurate and compliant closings. This solution offers a better consumer, title agent, and lender experience by using a single, collaborative, secure portal.
“Technological advances as well as shifting market demands and demographics make it clear that the title insurance industry is moving quickly into the digital space,” said Rande Yeager, Chairman, and CEO, Old Republic National Title Holding Company. “Our early support and commitment to the development and implementation of Pavaso represents a significant tactical step in advancing our offerings to today's customers and tomorrow's capital markets. The goal of our digital strategy is to provide eClosing experiences that are streamlined for everyone.”
Old Republic Title's Pavaso solution integrates disruptive technologies like BlockChain and electronic notary and allows title agents to assimilate a suite of complementary applications into a single portal.
“Old Republic Title's implementation of Pavaso technology creates a national 'digital' network of title and closing agents fully capable of closing anything from paper to fully digital transactions,” said Mark McElroy, CEO, Pavaso. “The result is a modern ecosystem for the real estate agent, mortgage lender and title agent, that puts the consumer front and center.”