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The New Originations Landscape

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Th e M Rep o RT | 41 Special Advertorial Section Technology guide Pavaso, Inc. Company desCription Pavaso's innovative solutions redefine the real estate transaction for the 21st century. They bring consumers and businesses together in a simple, secure, col- laborative, and compliant digital platform that keeps them engaged throughout the entire homeownership lifecycle, expands business capacity, and provides new opportunities beyond the closing. Company history In 2010, Pavaso started as an initiative at RamQuest Software to improve the consumer's experience and engagement during the real estate transaction. As the platform's capability expanded, Pavaso became a separate entity in January 2014 under its parent company, Old Republic National Title Insurance. In 2014, Pavaso was accepted by the Consumer Financial Protection Bureau (CFPB) to participate in their eClosing pilot with two lenders. regulatory ComplianCe Pavaso is aligned with the spirit and intent of the CFPB ruling by improving the consumer experience. Today, lenders and title companies are using Pavaso to securely deliver the entire closing package three days before closing, and will deliver the loan estimate and Closing Disclosure forms on August 1. During the closing process, consumers are educated and engaged by accessing educational materials directly from documents. The consumers' actions are logged during the entire closing process as they interact with businesses, documents, and data in order to provide a complete audit trail for the transaction. Business lines, serviCes, and produCts The Pavaso Platform provides a foundation to deliver countless solutions for the real estate industry. • Digital Close helps businesses engage and educate the consumer through a streamlined and standardized closing process. • Signing Table provides a modern, efficient closing experience that ensures consistent and complete closings. • Closing Forensics helps businesses prove the quality of closings, which is also leveraged by their Mortgage DNA solution to provide these higher quality loans to investors faster. Key Features/BeneFits • Implement massive capability with extremely low impact. Digital Close takes little time to learn and use, and can be implemented to provide digital closing capability within weeks. • Transform the consumer experience and digitally deliver it on a wide variety of devices. Competitive advantage There are several things that set Pavaso apart from their competitors; some of the bigger ones are: • The company's focus on improving the consumer's experience and how easy Pavaso makes that for businesses to adopt. • The breadth of capability their technology provides by keeping business engaged with consumers during their entire homeownership lifecycle. • Digital closings that go way beyond just e-signing and e-delivery—they provide a new measureable level of quality of loans to investors. added value to Clients Pavaso helps clients understand that the changes on August 1 are not just about two forms. At the end of the day, it is centered on the consumer's experience, and what the CFPB is expecting to change in the industry. When you focus on the challenges from that perspective, many of the issues which exist in the industry today, and those which could exist in the future, will take care of themselves. Keys to suCCess • Customer service. Great customer service is becoming increasingly difficult to find. Customers are the reason Pavaso exists, and they make sure they help them do the right thing for their business. • Pavaso's breadth of experience and depth of knowledge with technology and the industry helps them keep a unique perspective. industry awards, aCColades, and milestones • Awarded two CFPB eClosing pilots • Several businesses have performed closings in under 15 minutes due to consumers receiving the closing package three days prior to closing and getting questions answered well ahead of the actual close. "Pavaso helps clients understand that the changes on August 1 are not just about two forms. At the end of the day, it is centered on the consumer's experience, and what the CFPB is expecting to change in the industry. When you focus on the challenges from that perspective, many of the issues which exist in the industry today, and those which could exist in the future, will take care of themselves." —nancy g. pratt key personnel Mark McElroy President & CEO Nancy G. Pratt VP of Operations & eStrategy David Warhoftig VP of Business Development staffing 38 employees contact information 2901 N. Dallas Parkway, Suite 300 Plano, TX 75093 phone: 866.288.7051 email: sales@pavaso.com web: Pavaso.com

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