Old Republic Title Announces Pavaso as National E-closing Technology Provider

February 20, 2018

Old Republic National Title Insurance Company (ORNTIC) has unveiled a national digital strategy that involves the exclusive use of Pavaso, an e-closing solution that serves as a foundation for processing digital real estate transactions in ORNTIC's direct and national settlement operations.

According to a release, Pavaso says its e-closing platform uses a single, collaborative, secure portal that promotes transparency, efficiency, consumer education and communication. Pavaso is adaptable to future technological advances, yet flexible enough to apply in all environments, regardless of whether transactions are paper, partially digital or fully digital.

According to Rande Yeager, chairman and CEO of Old Republic National Title Holding Company, "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. 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 e-closing experiences that are streamlined for everyone."

Mark McElroy, CEO of Pavaso, says Old Republic Title's Pavaso solution integrates disruptive technologies like block chain and electronic notary, and allows title agents to assimilate a suite of complimentary applications into a single portal.

“E-closing is no longer the future. it's the here and now,” McElroy said. “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. The result is a modern ecosystem for the real estate agent, mortgage lender and title agent, that puts the consumer front and center.”

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