Snapdocs Powers American Financial Network's Digital Closing Strategy

Snapdocs Publish date: Feb 5, 2024

SAN FRANCISCO – January 30, 2024 – Snapdocs, the mortgage industry’s leading digital closing provider, announced that American Financial Network (AFN) NMLS: 237341, one of the fastest growing mortgage banks in the U.S., has selected its eClosing platform and eVault solution to accelerate digital closing adoption, boost the company’s operational efficiency, and up-level the borrower experience. 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. The lender aims to improve operating efficiency, 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,” said Jon Gwin, COO of American Financial Network. “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 platform effortlessly integrates with all major loan origination systems and provides access to Snapdocs’ network of more than 75,000 settlement agents, including all of 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,” said Michael Sachdev, CEO of Snapdocs. “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.”

About Snapdocs

Snapdocs is the mortgage industry’s leading digital closing provider. Powering millions of closings each year, Snapdocs combines an open platform, patented AI technology, the largest settlement network, and a team of industry experts to ensure digital closing success. Our proven approach enables market-leading lenders and title companies to automate the closing process and turn it into a competitive advantage. Using Snapdocs, lenders and title companies close more loans at lower cost while delivering the modern, referral-worthy digital experience borrowers expect. For more information, please visit Snapdocs.com.

About American Financial Network

American Financial Network is a Direct Lender with delegated authority to underwrite, fund, and service Fannie Mae, Freddie Mac, FHA, USDA, VA, and Jumbo loan products in-house. AFN’s success and expansion is built on core values including streamlined and efficient operations that optimize organizational output as well as an approach to customer service founded on exceeding expectations. Throughout the lending process, AFN provides regular loan updates and progress reports so borrowers always know the status of their loan.