Stavvy, the fintech company reshaping digital and remote collaboration for lending and real estate companies, announced the acquisition of SigniaDocuments, a technology suite from Evolve Mortgage Services.
The asset acquisition covers SigniaDocuments’ SMART Doc® technology, eClosing tools, including eSign and electronic notary capabilities, industry-tested eNote and eVault services, as well as eRegistry capabilities for agency and non-agency loans.
This strategic asset acquisition cements Stavvy’s position as a premier provider of electronic notarization technology, enhances Stavvy's digital mortgage platform by adding SMART Doc® and eVault capabilities to its existing eClosing solution, and underscores its unwavering commitment to providing clients with the most complete digital mortgage experience. SigniaDocuments’ SMART Doc® and eVault technology, coupled with Stavvy’s industry-best eClosing user experience, positions Stavvy to revolutionize the way transactions are conducted, ushering in a new era of efficiency, convenience, and security for all stakeholders in the closing space.
With this most recent acquisition, Stavvy now offers eNote, SMART Doc® disclosures, and loan documents for all 50 states, across all loan programs, and for all types of investors, including private label transactions. It also facilitates the adoption of digital second lien products like HELOCs, supported by Stavvy’s comprehensive eClosing solution that enables lenders and servicers to choose between hybrid, remote online notarization (RON), and in-person electronic notarization (IPEN) transactions as needed.
“We are in the business of eliminating manual mortgage processes and will continue to focus on removing every single barrier to digitization that exists. Mortgage documents continue to be fragmented, with the industry trying to find ways to tag signature locations. The status quo and existing solutions leave customers wanting more,” said Kosta Ligris, CEO and Founder of Stavvy. "This acquisition affirms our commitment to driving digital transformation and adoption in the mortgage industry. We are proud to be the only software company in the eClosing space to now offer fully tagged SMART Docs® for an entire mortgage package.”
"Stavvy now provides an unmatched degree of versatility that makes it ideal as an enterprise-wide solution for lenders, servicers, and particularly, for any firm actively seeking to scale in both spheres. Our clients can access the most comprehensive digital closing suite for mortgage lending as well as optimize homeowner engagement and loss mitigation pull-through rates with our digital default management tools, all while reducing costs for both origination and servicing," noted Angel Hernandez, Executive Vice President of Corporate Affairs at Stavvy. “Stavvy now has the ability to integrate seamlessly with major loan origination system providers while delivering fully tagged, machine-readable SMART Docs® that eliminate the hassle and cost of manual stare-and-compare quality control processes.”
As part of the acquisition, Evolve’s Charlie Epperson and Tim Anderson will join Stavvy and play pivotal roles in the company’s continued growth. Charlie Epperson is assuming the role of Chief Product Officer, bringing with him a wealth of expertise in digital mortgage products as well as industry technology and data standards. Tim Anderson is joining Stavvy as Executive Vice President of Digital Mortgage Strategy, and will leverage his experience to support Stavvy’s drive to scale adoption and innovation in the digital mortgage ecosystem.
“Whether referring to our focus on Smart Doc® technology or our drive to be the first-in-market provider of eHeloc solutions, for over two decades, Evolve has been a pioneer in mortgage technology driven to eliminate fragmentation and barriers to digital adoption. Stavvy and Evolve share in this same mission and spirit. I am thrilled to know that our technology suite and leadership team will continue on charting new frontiers with Stavvy,” said Paul Anselmo, Evolve Mortgage Services, CEO. “By combining the Stavvy platform with SigniaDocuments, we are positioned to deliver a comprehensive one-stop-shop solution that leads to a true digital closing while enhancing borrower experience.”
This acquisition marks the culmination of Stavvy's impressive growth against the backdrop of the current mortgage lending market. In a relentless pursuit to deliver the best digital solutions to their customers, Stavvy acquired Brace, which plays a pivotal role in propelling innovation and eliminating friction within the default mortgage servicing process. Stavvy continues to build and prioritize strategic relationships with industry leaders, including many major underwriters that are instrumental in Stavvy’s quest to reshape and drive innovation in the mortgage industry.