Stavvy and Flagstar Bank have partnered on a project where Flagstar is leveraging Stavvy’s platform to better execute digital loan servicing transactions.
“Flagstar very much appreciates and values our partnership with Stavvy as we continually look for ways to make the customer experience easier and more convenient,” Flagstar Bank Executive Vice President and President of Mortgage Lee Smith said in a release. “We place a huge value on using technology like Stavvy to change consumers’ lives and offer an industry-leading customer experience, especially as the need for digital loan modifications ramps up.”
Flagstar Bank teamed up with Stavvy earlier this year to complete its first fully remote loan modification in the U.S. Flagstar said with the Stavvy integration and Ginnie Mae now accepting eSignatures and remote online notarizations (RONs), it is prepared to handle the increased volume expected as COVID-19 relief programs end.
The team-up occurred through Flagstar’s Mortgage Tech Accelerator. Through this tool, companies such as Stavvy have created tech innovations within the mortgage sector since 2018.
Flagstar and Stavvy said their partnership is an important step forward in digitizing the servicing side of home lending. Stavvy is purpose-built to conform to existing loan modification workflows and is the only eSign and RON platform with workflow tools built specifically for servicing, the release stated.
“One of the driving visions at Stavvy has always been to move towards a world where homeowners are in charge of their mortgage experience, enabling them to conveniently and privately complete mortgage-related activities from wherever they are most comfortable,” Stavvy co-founder and CEO Kosta Ligris said. “Flagstar has been on the forefront of adopting technologies to improve the consumer experience and place the needs of its customers first. Flagstar is well-prepared and positioned to lead the rest of the industry, and we’re proud to support them to make that a reality.”