One of the nation’s fastest-growing mortgage banks, American
Financial Network (AFN), recently selected Snapdocs as its eClosing digital
closing provider and eVault solution to boost the company’s operational
efficiency and improve the borrower experience, according to a press release.
By partnering with Snapdocs, AFN plans to digitize as much
of its portfolio as possible, transitioning all 240 retail offices nationwide
to hybrid, eNote and remote online notarization (RON) transactions. By doing
so, the lender hopes to decrease the time and costs to sell on the secondary
market and deliver a hassle-free digital experience to borrowers.
“By providing our team the best solutions to close and
manage our loan portfolio, we will provide the best possible customer
experience to achieve success in this digitally moving market,” American
Financial Network Chief Operations Officer Jon Gwin said in the release. “With
Snapdocs’ technology and guidance, we have a simple, scalable process that
automates and standardizes all digital closing types. We chose this route to
upgrade the level of transparency and efficiency for everyone involved in the
closing—our borrowers, settlement partners, and the secondary market.”
With the Snapdocs eClosing platform and eVault, AFN gains a
streamlined digital closing experience that eliminates errors and manual
workflows and enables eNote transactions at scale, the release continues. The
platform effortlessly integrates with all major loan origination systems and
provides access to Snapdocs’ network of more than 75,000 settlement agents,
including the lender’s top partners. AFN looks to invest deeper into the
Snapdocs ecosystem to improve collaboration with its title partners by
integrating the Snapdocs eClosing and notary scheduling platforms.
“We have seen that digital adoption plays a key role in
driving efficiency gains and profitability for lenders. American Financial
Network is a forward-thinking lender that shares this understanding,” Snapdocs
CEO Michael Sachdev said in the release. “We are delighted to partner with
American Financial Network to maximize digital adoption, provide higher levels
of service to their customers, and support their future success.”