PLANO, Texas — Pavaso, Inc., a digital process and collaboration solutions provider, announced it has passed its Service Organization Control (SOC) 1(SM) audit for the Digital Close(SM) platform. This is the second SOC certification for Pavaso, as the company’s data center has already been SOC-2 certified.
The SOC 1 audit covered the following areas:
* Client onboarding
* System authentication
* Data submission and storage
* System configuration
* Logical access
* Change management
* System monitoring.
“In a digital mortgage environment, the integrity of the systems and processes used to execute this type of transaction are critical to both reassuring the consumer of the security of the transaction and providing a seamless, positive experience for the consumer,” said Mark McElroy, CEO and president of Pavaso. “Pavaso voluntarily underwent this extremely rigorous audit so that we could certify the integrity of the Digital Close platform to our customers. Furthermore, Wells Fargo and Caliber Home Loans recently agreed to purchase loans closed on Pavaso. The SOC 1 is another testament to the quality and security of our products and processes, of which we are very proud.”
Per the American Institute of CPAs (AICPA), the creator of the audit, the purpose of SOC 1 is to “evaluate the effect of the controls at the service organization on the user entities’ financial statement assertions…[to] comply with laws and regulations such as the Sarbanes-Oxley Act and the user entities’ auditors as they plan and perform audits of the user entities’ financial statements.”
About Pavaso:
Pavaso is redefining real estate for the real world by connecting everyone in the real estate lifecycle through powerfully simple innovation.
For more information on how our platform and solutions can help you meet TILA-RESPA compliance, digitally transform your organization, and dramatically enhance the consumer experience, call us at 866-288-7051 or visit http://www.pavaso.com/.
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