The Consumer Financial Protection Bureau (CFPB) selected participants for its mortgage eClosing pilot program. The three-month pilot will begin later this year and will explore how the increased use of technology during the mortgage closing process could affect consumer understanding and engagement and save time and money for consumers, lenders and other market participants.
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Pavaso Pioneers Enhanced E-closing for Home Purchase Transactions. May 15, 2014. Pavaso Inc. collaborated with Farris Title Group in Southlake, Texas, to successfully complete a digitally processed home sale transaction using the Digital Close solution.
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Next post Pavaso readies for cfpb pilot program with Digital Close. Search for: Recent Posts. Waters: Cancel House CFPB discrimination hearing; Pennsylvania Housing Finance Agency funds leadership training; As Housing Act Passes Congress, Questions Emerge;
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Electronic Mortgage Closings Improve Homebuying: Part 1. By. this pilot program was designed to "source new information in order to evaluate the role of current solutions and potentially help.
BREAKING NEWS: The CFPB Enlists The Help Of E-Closing Pioneers. (CFPB) today announced the selection of participants for its mortgage eClosing pilot program. The three-month pilot will begin later this year, and will explore how the increased use of technology during the mortgage closing.
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Pavaso and its Digital Close platform have been approved by the CFPB for participation in the eClosing pilot program. "One of the prior issues with getting adoption for eClosing was providing the title and closing agents with a simple solution they could use to support their part of the closing process," said Tim Anderson, Director of eServices.
Pavaso’s Digital Close makes the process of buying a house simple. This technology allows consumers to access and review their documents before closing. The eClosing pilot program is not part of a rulemaking process, but rather is designed to identify best practices in the marketplace.