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How Waterstone Mortgage Moved to 70% Hybrid Closings in Just Three Months

How one of the nation’s leading mortgage lenders closed 40% more mortgages with the same number of closers by going digital.

“We’re already seeing Snapdocs and our ‘hybrid as default’ offering become a competitive advantage. It’s still a nice surprise for some once they’ve chosen Waterstone Mortgage as their partner, but borrowers now seek us out because of it.”

Tom Knapp, CIO of Waterstone Mortgage

40% volume increase year-over-year

  • Waterstone Mortgage is one of the nation’s largest mortgage lenders, with 650 employees lending in 48 states
  • In 2020, Waterstone Mortgage’s volume increased 40% year-over-year
  • The firm moved 70 percent of its closings to hybrid in just three months using Snapdocs to manage all eClosings
  • They closed 40% more mortgages with the same number of closers
  • On average, hybrid eClosings are already proving to be 60% faster than wet closings and an 80% reduction in errors
volume-increase

70%

hybrid closings

40%

more loans closed with the same number of closers

60%

faster closings

80%

reduction in errors

Snapdocs Sprint

Having implemented digital closing programs for leading mortgage lenders, we know what it takes to start fast. So we started Snapdocs Sprint: a costless service for lenders who are racing to digitize closings. Whether for a trial run or for your whole loan volume, we’ll get you up-to-speed on our eClosing solution.

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Start eClosing in five weeks. Go all-digital in five months. Snapdocs is here to help you go fast.