PRMI Achieves eNote Adoption 3x Industry Average with Snapdocs

About Primary Residential Mortgage, Inc.

Primary Residential Mortgage, Inc. (PRMI) is a national lender with a deep understanding of community needs and a robust portfolio of loan products. This approach delivers personalized solutions to support both immediate financing goals and long-term homeownership success.

The search for adoption expertise

By 2022, PRMI was facing a scaling challenge with its previous digital closing provider. They needed more than just technology. The lender sought a true partner—one that offered white-glove service, strong expertise in scaling eNote adoption, and an intuitive platform that worked seamlessly for everyone involved. With a proven track record across their checklist, Snapdocs was the vendor of choice for PRMI.

"When evaluating digital closing providers, we wanted a partner who could help us scale. We didn’t have the internal tools to do it alone."

— Alyssa North, Senior Vice President of Operations at PRMI

Hands-on change management support

Snapdocs partnered closely with PRMI to understand their operational processes and ensure a smooth, quick onboarding. "It took us about a month to implement," Alyssa stated. "Implementing Snapdocs is one of the easiest projects I've been involved with at PRMI.”

This hands-on approach with on-site training and change management support was a differentiator from past vendor experiences for PRMI. "Without Snapdocs’ change management support, we would not have been able to get where we are today. The Snapdocs team acted as an extension of my team. They came on-site for in-branch training, giving us confidence in the platform and creating internal advocates across our branch partners," said Alyssa.

The pair also closely collaborated to ensure the Snapdocs eVault supported PRMI and other lenders’ requirements: “We needed to transact loans in batches rather than relying on single transactions. The Snapdocs eVault had the capabilities to substantially improve the efficiency of my post-closing team,” added Alyssa.

The operational benefits of adoption at scale

PRMI saw rapid success after implementing Snapdocs eClosing to digitize all closing transactions and loan types, as well as the Snapdocs eVault for eNotes.

100% adoption of eClose options
eNote adoption 3x the industry average
Over 4,600 eNotes completed in the Snapdocs eVault

"I've had both Fannie and Freddie asking, 'How did you gain adoption so quickly and how are you so successful at eClosing?'" Alyssa said. "Every time, I credit Snapdocs."

Operational efficiencies were equally impressive as a result of scaled adoption. "Partnering with Snapdocs has shaved a lot of time off our shipping process. Once we receive documents, we turn them around and deliver them to investors on the secondary market much faster," Alyssa noted.

A recent STRATMOR Group survey² validated PRMI’s production timeline acceleration vs. the industry average:

20 days saved across the loan lifecycle, 28% faster than peers
9 days faster off warehouse lines

This increased speed and accuracy opened doors to other improvements in PRMI's operations. Alyssa said, "We've added more automation with Snapdocs through the platform’s closing document QC process. AI identifies errors quickly, cutting down the time to get loans to the investor. Now, we can redeploy those resources to other areas of the business that need help."

An elevated experience for all—PRMI, settlement partners, and borrowers

Borrowers, settlement partners, and PRMI’s internal teams all saw benefits: "One of the greatest impacts of working with Snapdocs has been reducing our average closing appointment time from 45 to 15 minutes. This gives borrowers more time to talk with the loan officer and create that relationship," said Alyssa.

She added, "The feedback we've received from our settlement partners has been fantastic. The Snapdocs platform is easy to use and intuitive, so very few borrowers opt-out."

Streamlining processes with Snapdocs has unlocked new opportunities for PRMI. "Our team members are developing new skills and moving into expanded roles," said Alyssa. "It’s created value for both them and the business."

By simplifying and accelerating its closing operations, PRMI is now positioned to scale even further—delivering faster, smoother experiences for borrowers and partners alike.

¹Data based on Snapdocs lender data, MERS eRegistry®, and CoreLogic loan volume data. As of June 2024. Adoption percentages based on eligible volume.
²Data based on STRATMOR Peer Group analysis, The Need for Speed 2024.