ServiceLink’s professional notary services panel links with Stavvy’s digital transaction platform including remote online notarization (RON) and in-person electronic notarization (IPEN) to provide lenders with a turnkey signing solution.
In a move to support mortgage lenders who are striving to offer borrowers a full range of signing solutions, ServiceLink has partnered with real estate digital transaction platform, Stavvy.
Stavvy enables real estate professionals to accommodate their customers’ preferences for RON and IPEN signings. ServiceLink extends its professional notary services panel to Stavvy to ensure that all eSignings conducted via Stavvy are led by seasoned signing agents who specialize in real estate and are proficient in completing complex mortgage transactions. The result is a plug-and-play signing solution that eases the transition to eNotarization.
“The same notaries and, in some states, attorneys who have traditionally conducted in-person signings for ServiceLink are now conducting remote online notarization and IPEN signings for both ServiceLink and Stavvy clients,” says Dave Steinmetz, division president, origination services at ServiceLink. “Leveraging the Stavvy platform for a smooth and integrated workflow, we are happy to provide lenders with this essential expertise, which improves and accelerates the signing process while elevating the borrower experience.”
Stavvy founder and CEO Kosta Ligris says, “Stavvy and ServiceLink share a deep commitment to the mortgage industry. We provide a digital transaction solution that helps real estate professionals build new efficiencies into their businesses and provide borrowers with a better mortgage experience. The integration of Stavvy’s RON technology platform with ServiceLink’s national network of signing agents gives lenders the opportunity to adopt new technologies confidently as they streamline their closing workflows.”
Steinmetz adds that working in partnership with Stavvy enables ServiceLink to offer lenders IPEN capabilities at scale, at fees 50-75% lower than in the past. “Lenders who have hesitated to adopt in-person eSignings due to their cost will be giving IPEN another look now. There’s no question it’s an attractive option for borrowers who prefer the personal interaction of sitting down face-to-face with a notary to communicating with them virtually. And for lenders, IPEN offers speed and accuracy compared with in-person wet signings, where errors can go unnoticed until the post-closing process. Having all of the documents electronically executed ensures a faster, more efficient closing.”
The ServiceLink–Stavvy partnership represents a collaboration of trusted brands lenders can rely on, says Ligris. “Coming from the title side of the business myself, I’ve had the opportunity to work closely with Fidelity National Financial, ServiceLink’s parent company, over the years. The company’s track record of stability and success speaks for itself.”
Consumer adoption of remote online notarization (RON) and in-person electronic notarization (IPEN)
This partnership helps lenders adjust to consumer preferences – without having to onboard their own notary panel. About half (48%) of respondents to ServiceLink’s 2023 ServiceLink State of Homebuying Report (SOHBR) said they had eSigned their application or closing documents. As this momentum continues, demand for remote online notarization and in-person electronic notarization will continue to grow. The ServiceLink–Stavvy partnership makes it easier for lenders to address this demand – without major tech investment or workflow adjustments.
“Whether a borrower wants to meet with a signing agent in person or remotely, the lender can go into every closing with the confidence of knowing that this customer will have a positive experience,” says Steinmetz. “From scheduling the closing through final document delivery, the process is fluid and transparent to the borrower as well as the lender.”
The value of a specialized professional notary services panel
Speed and accuracy are vital to lenders in the closing phase, whether for a purchase, refinance, home equity, loss mitigation or servicing transaction. Post-signature errors cost lenders time and money, so notary quality and performance are high on the list of lender priorities.
Unfortunately, other virtual closing platforms’ subcontractor panels have historically been comprised of signing agents inexperienced in mortgage transactions. While these notaries may be well-versed in managing the signings of auto loan, power of attorney or other documents, they often lack the expertise needed to usher mortgage transactions through to successful completion.
In contrast, ServiceLink has a professional notary services panel that includes more than 12,500 signing agents, all highly experienced in real estate transactions. With an average tenure of eight years (and many on the panel for more than 20 years), these notaries and attorneys are scored monthly to ensure they consistently meet ServiceLink’s high standards for reliability and performance.
The new partnership of ServiceLink and Stavvy now makes this panel available to all Stavvy clients. More lenders than ever before will have access to this professional notary services panel to simplify and strengthen their transition into electronic notarization. “We look forward to enabling our lenders’ efforts to modernize their closing processes and supporting their ongoing success,” says Steinmetz.