New research found that accelerating loan delivery to the secondary and capital markets through eClosings leads to pricing gains of up to 10 bps. Research conducted by Snapdocs in partnership with Falcon Capital Advisors showed that lenders using Snapdocs delivered loans an average of five days faster and saw portfolio benefits of $115 to $283…
Snapdocs announced a new brand identity alongside an expansion of tools in its digital closing platform. Company leaders say this will automate each critical interaction between lending and settlement teams through new AI capabilities. The update will lead to more streamlined closing tasks, increasing efficiency and improving the borrower experience. “Mortgage closings are expensive, error-prone,…
Lenders looking for happy, loyal customers can benefit from streamlining and digitizing their closings, the part of borrowing that frustrates buyers the most. In a new survey from Snapdocs, 60% of homebuyers said they experience frustration during the mortgage process, especially during closing, which can impact lenders’ reputations and profits later. “Borrowers don’t remember everything…
By KIMBERLEY HAAS As the mortgage industry undergoes a digital transformation, warehouse lenders are adjusting their processes and using technology to manage eNote transactions. eNotes are electronic promissory notes and the digital equivalent of a paper promissory note, the asset being bought and sold during real estate transactions. Like a paper note, they include the…
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…
By KIMBERLEY HAAS Female mortgage professionals are breaking barriers and making strides. As Women’s History Month is celebrated this March, The Mortgage Note asked leaders in the industry and related fields to share their advice with others. Here’s what they said: Be kind. “Always be kind. This is a small pond. You never know who you…
By KIMBERLEY HAAS Motivated millennials and the power of technology will shape the mortgage market in 2024, according to industry leaders who gathered this week to reflect on 2023 and strategize for the year ahead. During a “2024 Lender Strategies: What (Another) Unprecedented Year in Mortgage Taught Us” webinar hosted by Snapdocs, Michael Fratantoni, chief…
Michael Sachdev was recently promoted from president to chief executive officer at Snapdocs and he says his secret to success is being a lifelong learner. The California-based company powers millions of digital closings each year by combining an open platform, patented AI technology, a settlement network, and a team of industry professionals to enable lenders…
Snapdocs’ eClose and Notary Scheduling have integrated, accelerating closing speed by at least 1.5 days through this “first-of-its-kind integration,” leaders at Snapdocs say. The integration, Connected Closings, creates efficiency for Snapdocs and settlement companies through automatic document sharing, eliminating time-consuming manual tasks. It provides real-time updates on the signing appointment, notary search, and closing documents. It…
As technology improves, mortgage lenders are looking for ways to work more efficiently and the vice president of customer success at Snapdocs says the adoption of digital closings improves bottom lines and consumer satisfaction. Snapdocs uses patented AI technology and research performed by the California-based company suggests mortgage lenders can save more than $400 per…
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