Snapdocs announced that it has launched a Broker Portal, set to bring realtors, escrow officers and signing agents into the fold with mortgage loan closings.
“To date, there hasn’t been an efficient way to keep all key players involved with a real estate transaction informed of the loan’s progress,” Snapdocs founder and CEO Aaron King said in a release announcing the product. “Thanks to Snapdocs’ Broker Portal, the entire chain of professionals now has a centralized way to collaborate and monitor landmarks leading to a successful closing.”
Mobile closings continuing to grow
Snapdocs’ web-based platform connects parties and parts of mortgage loan closing that take place away from a local mortgage office, often scheduled centrally and carried out by a mobile notary or signing agent. The Broker Portal enables communication and coordination throughout the closing process.
At the core of Snapdocs’ platform is an online database of more than 60,000 notaries spanning every state. The service is free to notaries, who are reviewed and ranked by other members in the closing process.
The company also announced that its mortgage loan volume more than tripled in the past 12 months, increasing 214 percent year-over-year, with closings in all 50 states.
All Start Title is one company that uses Snapdocs to source notaries for closings.
“All Star Title is committed to staying ahead of the curve with technology trends, especially on the consumer experience front,” All Star Title President Jason Horwitz said in a release from Snapdocs.
“We take representing our lenders very seriously, especially in the wake of new federal regulations. By utilizing Snapdocs, we are signaling to our lender partners that we are doing everything possible to make sure our shared customer, the borrower, has a pleasant, easy closing,” Horwitz said.
Mobile mortgage loan closings, for which a notary signing agent travels to the consumer, are multiplying, Snapdocs said. It is facilitating more than 20,000 out-of-office closings every month.
“Since adopting Snapdocs, the time it takes us to source and schedule a notary has been cut in half,” Triton National Title Agency Closing Coordinator Robert Rossmeisl said in the release. “It has been nice to increase speed and efficiency without sacrificing the quality of the notary, both for our lenders’ and the consumer’s sake.”
“The past 12 months are indicative of the mortgage industry recognizing that modern technology can solve new and longstanding challenges to provide an exceptional consumer experience, ensure compliance and streamline operations,” King said.