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.