Snapdocs and Fairway Independent Mortgage Corporation recently completed the largest eNote migration in mortgage history.
The migration was done as part of Fairway’s integration of Snapdocs’ eVault. Fairway is a leader in eClosing and operates hundreds of branches across the U.S.
The company has eClosed more than 100,000 transactions in the last five years and leads in delivery volume to Fannie Mae and Freddie Mac, alongside MERS registrations.
Teri Pansing, SVP of Corporate Closing for Fairway, said Snapdocs stood out for its ability to deliver a seamless digital closing experience for borrowers.
“The branches know their customers and their circumstances best. We want them to have trust in the process, the platform, and the support to know that eClose is their best option,” she said.
Fairway wanted to digitize as much of its portfolio as possible, as quickly as possible.
“We wanted to scale eNotes because it impacts efficiency in post-closing and delivery and so many other areas of our business,” Pansing noted. “eClose is a better, easier, and more convenient option for our settlement partners as well who can now offer a more satisfactory experience for borrowers.”
The company now plans to expand into in-person and remote online notarization.
COVID-19 helped speed up the industry’s adoption of online borrowing tools, and many lenders are prioritizing high-quality tech now. In a survey of more than 100 C-suite and executive-level mortgage lenders and financial institutions, nearly 40% said they expect efficient technology leveraging to make them more profitable in 2024.
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