Legacy Mutual Reaches Hybrid Adoption 2x Industry Average with Snapdocs

About Legacy Mutual Mortgage

Legacy Mutual Mortgage, founded in 2003, has experienced exponential growth over the past two decades, expanding across Texas and several other states. In 2020, the lender set out to implement a reliable eClosing solution to uphold its founding principle of delivering exceptional lending experiences for customers, partners, and staff.

From trial & error to success: finding the right eClose partner

Legacy Mutual tried multiple eClosing solutions in the past but was consistently disappointed by the quality of customer service their team received from other providers. When looking for a new solution, the lender wanted to find a digital closing partner with expertise in scaling hybrid closings that could help them achieve their goal of increasing closing speed and efficiency for their closing and post-closing teams. Snapdocs’ focus on white-glove customer service and extensive experience driving strong eClose adoption made Snapdocs the perfect partner for Legacy Mutual.

“We needed a reliable provider to help us quickly offer clients a digital signing experience,” said Jody Drumm, VP Closing Manager at Legacy Mutual. "Working closely with Snapdocs, our team found the hands-on support we were looking for. Snapdocs set us up for success from the start, answering our questions in depth, guiding us through the process, and providing training at every step.”

A tailored approach

Snapdocs collaborated with Legacy Mutual to gain a deep understanding of the lender’s internal processes and develop an implementation plan tailored to their specific business needs. Key components of this plan included the seamless integration of Legacy Mutual’s existing technology stack with the Snapdocs platform and comprehensive internal education. This approach helped minimize change management challenges and ensured a smooth transition for their entire team.

"Snapdocs was very knowledgeable in explaining how eClosing technology would help our business—sharing best practices, collaborating on adoption targets, and helping us train all positions on how to reach that goal," stated Drumm.

With Snapdocs, Legacy Mutual digitized all e-eligibile transactions, starting with hybrid closings. With hybrid closings, the lender gained several advantages. They can send and receive documents digitally from title partners, easily view the status of the closing, and allow borrowers to preview and eSign non-critical documents prior to the closing appointment. This automation improves the borrower experience, increases resource capacity, and reduces errors throughout the closing process.

Raven Johnson, VP of Business Systems at Legacy Mutual, noted Snapdocs' expertise was crucial in driving usage across the organization—giving Legacy Mutual confidence to make hybrid closings their default option for all transactions, “Snapdocs helped us to see the full benefit of using eClosing for all files, not just a select few. Now, our team follows a standardized process, increasing efficiency and reducing mistakes.”

Building on the lender’s success with hybrid closings, Legacy Mutual expanded their digital capabilities by implementing the Snapdocs eVault to support eNote transactions, with plans to incorporate Remote Online Notarization (RON) in the future.

"Snapdocs made the process of adopting eNotes so easy and flawless. Our team was very knowledgeable and prepared to scale eNote transactions as a result,” shared Kristen Manriquez, VP of Capital Markets at Legacy Mutual.

Within months of launching Snapdocs to their closing teams, Legacy Mutual realized eClose adoption performance higher than they had with any previous provider:

95% total eClose adoption (inclusive of hybrid and eNote closing types)
2x higher hybrid adoption than industry average¹

High adoption brings new levels of efficiency

By automating manual tasks across most of their portfolio, Snapdocs saves Legacy Mutual valuable time and enables the lender’s teams to focus on more critical tasks.

This speed is key for improving efficiency and reducing costs. Legacy Mutual surpassed non-Snapdocs lenders by operating 25 days faster from application to shipping in a recent STRATMOR Group survey².

"Working with Snapdocs has significantly improved our overall efficiency," said Manriquez. “Hybrid closings reduced the time borrowers spend at the closing table by half and we no longer have to send large, encrypted emails with executed documents back and forth with our title partners.”

Manriquez also credits ongoing eNote adoption for improving the post-closing process. ”Accelerating eNote adoption eliminated signing errors, simplified the process for our post-closing team, and sped up delivery to our warehouse partners and investors.”

Johnson says digital closings with Snapdocs are a smoother, more efficient process for all stakeholders, especially borrowers, “The closing is the customer's last experience with us. It can make or break their satisfaction with the entire process. We want to give them a positive lasting impression and we can do that with Snapdocs."

¹Calculated using 2023 MERS eRegistry® and CoreLogic loan volume data
²Legacy Mutual’s results based on STRATMOR Peer Group analysis of 2022 & 2023 combined average lender data