Mortgage lender Guaranteed Rate has partnered with a financial technology company to offer electronic closing services for all stakeholders in the mortgage process, including title and settlement agents.
Boston-based fintech Stavvy said in a statement today that it has partnered with Guaranteed Rate to accelerate the number of electronic mortgage closings while allowing stakeholders to connect, sign and notarize documents. Stavvy noted that a large portion of the mortgage industry continues to use paper despite the accelerated adoption of digital closings during the pandemic.
“Guaranteed Rate realizes how important closing agents are in accelerating digital adoption, particularly during a purchase market, and added a partner that empowers all stakeholders through easy technology, training, and onboarding,” the statement said.
Stavvy provides a platform that offers electronic closing, including electronic signatures, digital notarization, and video conferencing for real estate and mortgage professionals. Guaranteed Rate’s partnership with Stavvy includes tools and training for the industry.
“Guaranteed Rate recognizes that title and settlement agents and law firms provide critical services to consumers and customers in mortgage and real estate transactions,” Kosta Ligris, Stavvy’s founder and CEO, said in the statement. “Our partnership empowers these talented and dedicated professionals to adopt digital tools while maintaining the quality service and jurisdictional expertise necessary for the ideal consumer experience.”
Stavvy noted that more than 40 states have enacted permanent remote online notarization laws, adding that “Guaranteed Rate Companies will continue to improve their experience throughout the closing process, from eSign hybrid closings to full eClosings with RON.”
“This partnership with Stavvy will help increase adoption across the industry through onboarding, training, and a great user experience,” Paul Anastos, Guaranteed Rate’s chief innovation officer, said in the statement.