Snapdocs announced a new integration with MeridianLink’s cloud-based consumer loan origination system (LOS). The integration allows lenders to originate and close home equity lines of credit (HELOC) and home equity loan (HELOAN) transactions entirely within MeridianLink Consumer — through the platform’s digital closing integration — automating manual work, improving accuracy, and creating a faster, more seamless closing experience for consumers, according to a release.
America First Credit Union (AFCU) is among the first to leverage the integration, digitizing 100 percent of home equity closings and earning a perfect member Net Promoter Score (NPS) of 100 as a result.
“Our members can now complete a home equity closing in minutes, whether in-branch, with a mobile notary, or remotely,” Austin Coleman, senior vice president of mortgage lending at AFCU, said in a release. “We’ve turned what was once a slow, paper-heavy process into a seamless, fully digital experience that’s faster for our members, easier for our staff, and consistent across every loan type.”
With this integration, lenders can create Snapdocs closings — including hybrid, eNote, and fully digital closings leveraging remote online notarization directly within MeridianLink Consumer. Once the closing is complete, signed documents automatically flow from Snapdocs back into MeridianLink Consumer, ensuring consistency across workflows while reducing costs, shortening cycle times and delivering a “superior borrower experience,” according to a release.
“As homeowners tap into record levels of equity, home equity loans have become a core growth and retention strategy for many lenders,” Camelia Martin, vice president of eMortgage strategy and industry affairs at Snapdocs, said. “This increased demand gives lenders an opportunity to realize the operational advantages of digitizing home equity closings, while delivering the seamless experience today’s consumers expect. Connecting Snapdocs with MeridianLink Consumer positions lenders to meet the growing demand for home equity lending while improving efficiency.”
This partnership is happening at a time when home equity lending continues to grow. According to the Mortgage Bankers Association, originations of open-ended HELOCs and closed-end home equity loans rose 7.2 percent year-over-year in 2024, while total outstanding home equity debt increased by more than 10 percent. Nearly four in 10 consumers are using home equity for debt consolidation, underscoring the need for high-volume, efficient workflows, according to a release.
“MeridianLink Consumer was built to help lenders originate faster and smarter,” Wes Zauner, vice president, product management at MeridianLink, said. “Our partnership with Snapdocs embeds best-in-class digital closing directly within the MeridianLink One platform, giving lenders a unified, end-to-end home equity workflow that reduces friction, strengthens compliance and improves borrower satisfaction.”