Lenders close more loans, reduce errors and impress borrowers with Snapdocs’ eClosing solution

Most eClosing technologies are not designed to quickly deliver value to all participants. This means that lenders spend a lot of time and money implementing electronic closures only to see a low return on their investment, or they never achieve full adoption.

With over 1,000,000 fencing per year, Snapdocs is the industry’s leading digital fencing platform. Snapdocs provides lenders with a single, scalable process to work with any settlement partner on any type of fence, including Wet, Hybrid, and Full eClosings. With Snapdocs’ proven, pragmatic approach, lenders close more loans, at lower cost, while delivering the modern experience borrowers have come to expect.

“We are able to generate value for all participants from day one because Snapdocs supports all of the different workflows that happen around a fence and what needs to be done by the lender, the settlement. and the borrower. This makes it easier to deploy digital fences because as soon as your internal and external stakeholders touch the deal, they realize they benefit, ”said Aaron King, CEO and Founder of Snapdocs.

The time to value and the results obtained by lenders are unprecedented. Lenders can digitize 99% of their loan volume in just one month. This is possible because Snapdocs seamlessly connects to any LOS or document preparation provider, and its unique AI automatically annotates any ready package for electronic signature.

“It’s probably the only out-of-the-box technology we’ve released, and we’ve released about 11 in the past 14 months,” said Katherine Campbell, chief digital officer at Assurance Financial.

Snapdocs gives lenders the tools for digital fencing, like eNote and Remote Online Notarization (RON), while automating manual work and standardizing their workflows with settlement. As a result, lenders are seeing breakthrough operational efficiencies that allow them to do more with the same workforce. In 2019, The Mortgage Firm processed its highest volume to date – a 13% increase from 2018 – without adding headcount.

“One of the best things about Snapdocs isn’t that we can do digital fencing, it’s all done from one place,” said Sheri Nedley, senior vice president of lending operations at The Mortgage Firm. “Everything we did manually were separate steps: email the loan team, the title, and the borrower. Now it’s one more step and everything is done. This is where the real time savings lie.

By using the Snapdocs digital closing platform, lenders also make closing easier and more efficient for borrowers and settlement agents. With document preview and electronic signature, errors that occur at closing are reduced by 80% and the closing appointment is shortened to 15 minutes.

“We initially heard about Snapdocs from our escrow partners, who praised the company and the platform,” said Tamra Rieger, COO of Evergreen Home Loans.

In the borrower survey, “we hear how easy the process was and how smooth the closing was. It has a lot to do with the fact that everything is done through Snapdocs and the majority of our loan packages are done as hybrid fences, ”Nedley said.

Aaron King, CEO and Founder

Aaron King started working in the mortgage industry when he was in high school, graduated as a notary at 18, and founded a nationwide notary signing service at age 21. In 2013, he founded Snapdocs, a technology company focused on perfecting the digital fencing process.

Christian Hjorth, Vice President of Sales and Customer Success

In his role at Snapdocs, Christian Hjorth built the sales team from scratch and developed the company’s playbook and sales strategy. Earlier in his career, he was Chief Revenue Officer at Folloze and Senior Vice President of Global Sales at Tradeshift.

Briana Ings, Product Manager

Briana Ings leads the development of Snapdocs’ digital fencing platform. By prioritizing modern and intuitive design, leveraging powerful AI, and creating seamless integrations to core systems, their team’s work empowers lenders to turn the closing process into an enjoyable experience for them. borrowers.

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