Articles from Snapdocs

Snapdocs, the mortgage industry’s leading digital closing provider, today announced the availability of two new capabilities: Quality Control (QC) and Trailing Document Management. These advancements are part of the company’s broader strategy to automate the complex closing tasks beyond the eSignature.

Snapdocs, the mortgage industry’s leading digital closing provider, has become the first to achieve compliance with MISMO’s eVault System Standards, underscoring its commitment to advancing secure, compliant, and seamless transactions involving electronic promissory notes (eNotes).

Snapdocs, the mortgage industry’s leading digital closing provider, today announced new research conducted in partnership with Falcon Capital Advisors, revealing that eClosing technology enables lenders to achieve a pricing gain of up to 10 basis points1 by accelerating loan delivery to the secondary and capital markets. The study highlighted that lenders using the Snapdocs platform delivered loans an average of five days faster, securing this pricing gain for loans delivered into an earlier month's mortgage-backed security. This research also validated that lenders see a portfolio benefit of $115–$2832 per loan when digital closings are adopted at scale.

Snapdocs, the mortgage industry’s leading digital closing provider, today announced plans to automate every critical interaction between lending and settlement teams throughout the mortgage closing process. The company will introduce new AI-powered capabilities within its platform that streamline complex closing tasks to increase customer efficiency and improve the borrower experience. These advancements inspire the company’s new brand identity.

Snapdocs, the mortgage industry’s leading digital closing provider, announced a collaboration with Zions Bancorporation (NASDAQ: ZION) to digitize the lender’s mortgage closings. The Zions network of banks selected Snapdocs for its unmatched ability to drive high digital closing adoption, optimize operational efficiency, and provide flawless experiences for loan officers, settlement partners, and borrowers.

According to a new survey conducted by Snapdocs, the mortgage industry’s leading digital closing provider, 60% of homebuyers experience frustration during the mortgage process. The key factors borrowers identified as negatively impacting their experience occurred during the closing, including document errors, lengthy in-person appointments, and unexpected caretaking and travel costs. Borrowers who were given the option to close digitally, or even just preview the documents digitally, reported higher satisfaction with their mortgage process.

Snapdocs, the mortgage industry’s leading digital closing provider, has partnered with Republic Bank & Trust Company to accelerate its eClosing adoption.

Snapdocs, the mortgage industry’s leading digital closing provider, today announced a partnership with SitusAMC to integrate the Snapdocs eVault to SitusAMC’s ProMerit platform. The partnership allows warehouse lenders to manage eNote transactions seamlessly and securely from within their warehouse lending system of record, enabling them to scale eNote adoption with confidence and ease.

Snapdocs, the mortgage industry’s leading digital closing provider, released new third-party research revealing lenders using its eClosing platform are 18 days faster than industry peers across the loan production timeline—from loan application through delivery to the secondary market. The research, independently conducted by advisory firm STRATMOR Group, collected self-reported performance data from over 150 mortgage lenders1.

Snapdocs, the mortgage industry’s leading digital closing provider, announced that American Financial Network (AFN) NMLS: 237341, one of the fastest growing mortgage banks in the U.S., has selected its eClosing platform and eVault solution to accelerate digital closing adoption, boost the company’s operational efficiency, and uplevel the borrower experience.

Snapdocs, the mortgage industry’s leading digital closing provider, has partnered with LenderLogix to provide shared customers with a unified closing experience. The integration between Snapdocs’ eClosing platform and LenderLogix’s LiteSpeed point-of-sale (POS) gives lenders the ability to offer borrowers a streamlined digital closing from loan application to final signature, all while automating cumbersome and time-intensive internal processes.

Snapdocs, the mortgage industry’s leading digital closing provider, announced that New American Funding (NAF) has selected its eClosing platform to accelerate digital closing adoption and deliver a streamlined experience to borrowers and the loan officers who serve them.

Snapdocs, the U.S. mortgage industry’s leading digital closing provider, today unveiled new research revealing that the majority of lenders who have purchased eClose technology are not realizing the benefits of the product at scale.

Snapdocs, the mortgage industry’s leading digital closing provider, announced the promotion of Michael Sachdev from president to chief executive officer. Sachdev succeeds Snapdocs founder Aaron King, who will take on the role of executive chairman. Snapdocs is focused on solving the fragmentation in the mortgage industry—making closings faster, more cost-effective, and error-free for all parties involved. This move will position the Snapdocs leadership team to take on the next stage of growth in pursuit of this vision.

Snapdocs, the mortgage industry’s leading digital closing provider, has launched Connected Closings, a first-of-its-kind integration between the Snapdocs Digital Closing and Notary Scheduling platforms. With Connected Closings, Snapdocs customers reduce closing times by at least a day and a half, settlement companies return scanbacks two-times faster by eliminating manual tasks, and borrowers electronically sign documents prior to the closing appointment more than 90% of the time. Snapdocs lender and settlement customers using Connected Closings include The Federal Savings Bank and BCHH, a leading provider of real estate title and closing nationwide.

Snapdocs, the mortgage industry’s leading digital closing platform, today announced a new integration with Finastra’s Mortgagebot loan origination system (LOS) to support Trustmark’s eClose transformation. The integration allows Trustmark’s lenders nationwide to execute closings in one centralized workflow – using Snapdocs’ digital closing platform within the MortgagebotLOS platform – to drive faster closing times, reduce operating costs, and enhance the borrower experience. This partnership is the latest of five different integrations built by Snapdocs in just 12 months to give lenders the ability to connect their technology portfolio and further streamline the shift to digital closings.

Mortgage lenders can save more than $400 per loan by using eClose technology to digitize and automate the mortgage closing process, according to research performed by Snapdocs, the mortgage industry’s leading digital closing platform. This newly-released research validates this savings potential across all digital closing types including hybrid, hybrid with eNote, and full eClose (also known as Remote Online Notarization, or RON).

Snapdocs, the mortgage industry’s leading digital closing platform, today announced the completion of its integration with Mortgage Cadence, an Accenture (NYSE: ACN) company. The integration enables lenders nationwide to use Snapdocs within Mortgage Cadence’s loan origination system (LOS) to streamline the closing process, reduce operating costs, and enhance the borrower experience.

Snapdocs today announced Primary Residential Mortgage, Inc.’s (PRMI) use of its new Snapdocs eVault and digital closing platform to scale electronic promissory note (eNote) adoption. Snapdocs collaborated closely with the national mortgage lender to inform development and bring its purpose-built eVault technology to market. Several other leading mortgage lenders have also implemented the Snapdocs eVault to deliver the significant benefits that eNotes offer to their organizations and to the consumers they serve.

Snapdocs, the mortgage industry’s leading digital closing platform, today announced the completion of its integration with BeSmartee’s digital mortgage platform. The integration enables lenders nationwide to offer a modern borrower experience that spans loan origination to closing, drives faster closing times, and reduces operating costs. Mortgage lender American Bancshares is among the first customers to use the integration.

Snapdocs, the mortgage industry’s leading digital closing platform, today announced a strategic integration with Byte Software. This integration will enable lenders to use Snapdocs within Byte’s loan origination system (LOS) to help streamline and automate the closing process in order to reduce costs and improve the borrower experience.

Mortgage lenders know they must offer a superior experience to acquire repeat business and earn customer referrals. Yet the mortgage process remains stressful for borrowers, with 1 in 5 reporting an issue with their transaction. New research from Snapdocs and STRATMOR Group released today bridges that gap, uncovering common pain points during the mortgage process and offering recommendations for lenders to improve the borrower experience. To see the full results, please download the “State of Borrower Experience” report here.

Snapdocs, the mortgage industry’s leading digital closing platform, today announced its collaboration with mortgage advisory firm STRATMOR Group to provide lenders with new research about borrower experience. The research will include quarterly borrower panel surveys to benchmark industry performance and highlight the most critical opportunities to improve the borrower experience across the mortgage transaction. Snapdocs and STRATMOR will also work with lenders to complete a personalized assessment of their borrower experience and develop a data-driven, actionable improvement plan.

Snapdocs, the leading digital closing platform for the mortgage industry, today shared details of Revolution Mortgage’s use of e-Eligibility to mitigate business risk and accelerate digital closing adoption.

MISMO, the real estate finance industry’s standards organization, announced the availability of the MISMO e-Eligibility Exchange, Powered by Snapdocs, created to further accelerate industry-wide adoption of digital closings. Developed in partnership with Snapdocs, a leading digital closing platform for the mortgage industry, the e-Eligibility Exchange provides centralized access to acceptance criteria that enables lenders and other industry participants to easily determine the right type of digital mortgage closing for each loan, including the use of electronic promissory notes (eNotes) or remote online notarization (RON).

Snapdocs, a leading digital closing platform for the mortgage industry, today shared details of Fort Community Credit Union (FCCU) and its move to a digital closing process for 22,000 members. The results include using Snapdocs to shorten closing appointments to 15 minutes and save $200 per hybrid closing with eNote.

Snapdocs, a leading digital closing platform for the mortgage industry, announced today that its eClosing offering has been certified as compliant with the MISMO® eClosing System Certification Requirements. Snapdocs is the first – and at present, the only – eClosing provider to achieve this certification from MISMO.

Snapdocs, a leading digital closing platform for the mortgage industry, announced today that GMFS Mortgage has selected Snapdocs to create a faster, ​more seamless closing process for its customers. Based in Baton Rouge, LA, GMFS Mortgage has been in business for 22 years, originating and servicing wholesale and retail divisions in 16 states and processing over 16,000 loans per year.

MISMO®, the real estate finance industry's standards organization, announced a collaboration to develop the MISMO e-Eligibility Service, Powered by Snapdocs (the e-Eligibility Service). The online service will be developed in partnership with Snapdocs, Inc., a leading digital closing platform for the mortgage industry. This resource will enable mortgage industry participants to better understand how digital a mortgage transaction can be. It will help lenders easily determine the right type of digital mortgage closing for each loan by quickly assessing the different factors that impact its e-Eligibility, or its ability to be digitized.

Snapdocs, a leading digital closing platform for the mortgage industry, announced that it has raised $150 million in Series D funding. The new round will accelerate Snapdocs’ vision of building the digital infrastructure that connects lenders, settlement services and borrowers together to digitize mortgage closings at scale. The round was led by Tiger Global with participation from Sequoia, Y Combinator, F-Prime, Maverick, Alkeon, and Wellington Management. This brings Snapdocs’ total funding to $260 million and increases valuation to over $1.5 billion.