Fintech Stavvy acquires technology suite SigniaDocuments

Key Takeaways:

– Fintech firm Stavvy has acquired SigniaDocuments, a technology suite from Evolve Mortgage Services.
– The terms of the deal were not disclosed.
– The acquisition includes eClosing tools, eNote and eVault services, eRegistry capabilities, and SMART Doc technology.
– Stavvy will offer eNote, SMART Doc disclosures, and loan documents for all 50 states and all loan programs.
– The acquisition supports the adoption of digital second-lien products like HELOCs.
– Charlie Epperson and Tim Anderson from Evolve will join Stavvy as chief product officer and executive vice president of digital mortgage strategy, respectively.
– Stavvy’s platform offers eClosing functionality, eSign, digital notarization, and video conferencing for real estate and mortgage professionals.
– Stavvy has partnerships with Guaranteed Rate and Covius to offer RON and eSignature capabilities.
– Stavvy recently received $40 million in Series A funding and integrated with ICE Mortgage Technology’s Encompass Digital Lending Platform.
– Stavvy acquired Brace in August to provide a streamlined platform for mortgage servicers and homeowners.

HousingWire:

Stavvy, a fintech firm specializing in digital and remote collaboration for lending and real estate companies, acquired SigniaDocuments, a technology suite from Texas-based lender Evolve Mortgage Services.

Terms of the deal were not announced.

Stavvy will acquire assets, including eClosing tools, eNote and eVault services, eRegistry capabilities for agency and non-agency loans and SigniaDocuments’ SMART Doc technology – a data-driven electronic document engine.

“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,” the company said in a release. 

Stavvy will offer eNote, SMART Doc disclosures and loan documents for all 50 states across all loan programs.

The acquisition also facilitates the adoption of digital second-lien products like home equity lines of credit (HELOCs). This is supported by Stavvy’s eClosing solution that enables lenders and servicers to choose between hybrid, remote online notarization (RON) and in-person electronic notarization (IPEN) transactions, Stavvy added. 

As part of the acquisition, Evolve’s Charlie Epperson and Tim Anderson will join Stavvy.

Epperson was tapped as chief product officer and Anderson was named executive vice president of digital mortgage strategy.

Founded in 2018, Stavvy works to increase efficiency and transparency in real estate and mortgage lending. Its platform offers eClosing functionality, including eSign, digital notarization and video conferencing, designed for real estate and mortgage professionals.

Stavvy has partnerships with Guaranteed Rate, which is aimed at driving digitization in title and settlement agents to real estate professionals, and with loss mitigation and loan modification solution provider Covius to offer RON and eSignature capabilities for all loan mitigation products.

In 2021, Stavvy landed a $40 million Series A funding led by Morningside Technology Ventures, which it planned to use to triple its staff by the first quarter of 2022.

Stavvy went through a growth period in 2021 when it integrated with ICE Mortgage Technology’s Encompass Digital Lending Platform and became a MISMO-certified Remote Online Notarization provider.

In August, Stavvy acquired digital mortgage servicing tech firm Brace to provide a streamlined platform for mortgage servicers and homeowners.

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Property Chomp’s Take:

is a commonly used HTML element that plays a crucial role in web development. It is used to create divisions or sections within a webpage, allowing developers to organize and structure the content. In this article, we will explore the recent acquisition made by Stavvy, a fintech firm, and its implications for the digital mortgage industry.

Stavvy, known for its expertise in digital and remote collaboration for lending and real estate companies, has acquired SigniaDocuments from Evolve Mortgage Services. The terms of the deal have not been disclosed. This strategic acquisition includes various assets such as eClosing tools, eNote and eVault services, eRegistry capabilities, and SigniaDocuments’ SMART Doc technology.

By acquiring SigniaDocuments, Stavvy solidifies its position as a leading provider of electronic notarization technology. The addition of SMART Doc and eVault capabilities enhances Stavvy’s digital mortgage platform, further improving its existing eClosing solution. This acquisition highlights Stavvy’s commitment to offering clients a complete digital mortgage experience.

With this acquisition, Stavvy will now be able to offer eNote, SMART Doc disclosures, and loan documents for all 50 states across different loan programs. Additionally, it enables the adoption of digital second-lien products like home equity lines of credit (HELOCs). Stavvy’s eClosing solution allows lenders and servicers to choose between hybrid, remote online notarization (RON), and in-person electronic notarization (IPEN) transactions.

As part of the acquisition, Charlie Epperson and Tim Anderson from Evolve Mortgage Services will join Stavvy. Charlie Epperson will assume the role of chief product officer, while Tim Anderson will serve as the executive vice president of digital mortgage strategy.

Stavvy, founded in 2018, aims to improve efficiency and transparency in the real estate and mortgage lending industry. Its platform provides eClosing functionality, including eSign, digital notarization, and video conferencing, specifically designed for real estate and mortgage professionals.

The company has established partnerships with Guaranteed Rate and Covius. The partnership with Guaranteed Rate focuses on driving digitization in title and settlement agents to real estate professionals. On the other hand, the collaboration with Covius offers RON and eSignature capabilities for all loan mitigation products.

In 2021, Stavvy secured a $40 million Series A funding round led by Morningside Technology Ventures. The company plans to triple its staff by the first quarter of 2022, leveraging the funding to support its aggressive growth strategy.

Stavvy experienced significant growth in 2021, including integrating with ICE Mortgage Technology’s Encompass Digital Lending Platform and becoming a MISMO-certified Remote Online Notarization provider. In August, Stavvy acquired Brace, a digital mortgage servicing tech firm, to streamline the platform for mortgage servicers and homeowners.

In conclusion, Stavvy’s acquisition of SigniaDocuments from Evolve Mortgage Services strengthens its position as a leading provider of digital mortgage solutions. With enhanced capabilities and a comprehensive digital mortgage experience, Stavvy is well-positioned to drive further innovation and efficiency in the industry.

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