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…
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 will work with or for,” said Erica Giorgiantonio, senior director of field services at SingleSource Property Solutions in Canonsburg, Pennsylvania.
Have confidence.
Julia Curran, senior director of product design at SitusAMC in New York City, said, “Don’t be afraid to speak up and assert yourself in meetings and negotiations. Confidence and assertiveness are key qualities for success in our field.”
Gaining that confidence can…
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 economist and senior vice president of research and industry technology at the Mortgage Bankers Association, said volume is predicted to increase by loan count to over five million this year.
At the same time, total mortgage origination volume is expected to increase from $1.6 trillion to more than $2 trillion.
Demographics will help contribute to a market rebound after a tough year in 2023. That’s…
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 and title companies to automate the process, according to a press release.
In his new role, Sachdev succeeds the company’s founder, Aaron King, who is taking on the role of executive chairman. As CEO, Sachdev will oversee all company operations and business strategy, with input and oversight from the company’s board.
Sachdev recently sat down with editor Kimberley Haas to talk about the promotion and…
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 also directs borrowers to electronically sign documents, which they sign prior to their closing appointments 90% of the time.
“Lender and settlement workflows have historically been completely fragmented, resulting in errors and wasted time. This industry-first innovation is a win-win for both parties,” said Snapdocs Chairman and Founder Aaron King.
“Lenders feel more in control with visibility and access to the real-time information around…
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 loan by using eClose technology, according to a press release.
Todd Maki recently sat down with editor Kimberley Haas to talk about their product and the role artificial intelligence plays in the process.
Haas: Tell me some of the things that pop up the most often, some of the challenges you face.
Maki: We’re focused on digital closings with the lender side where we focus…
By KIMBERLEY HAAS
The founder and CEO of the digital closing platform Snapdocs says adopting a technology strategy that reduces costs can help mortgage lenders now and as the market bounces back.
Aaron King recently sat down with The Mortgage Note to talk about the value of digital closings. He said Snapdocs, headquartered in San Francisco, is a national company founded in 2012 on the observation that these closings require all of the parties involved in a real estate transaction to connect seamlessly.
“While the technologies existed, there was too much fragmentation between parties and the transactions themselves were too dynamic to apply these technologies until you worked on connecting all the parties. The vision of Snapdocs is we build…
Mortgage lenders are constantly working to make the borrowing process painless for their customers. But one in five borrowers still encounters an issue with their transaction, according to new research from Snapdocs and STRATMOR Group. The “State of Borrower Experience” report surveyed 7,000 Americans who completed a mortgage transaction in the last nine months. The researchers found that borrowers are typically happy with the application process. Data suggests this is the result of dedicated efforts by mortgage lenders in the last decade, and that effort has paid off: 67% of respondents rated the experience of filling out a loan application an 8 or above on a 10-point scale, where 10 represents a “very easy” process. “Lenders have made significant strides…
