Customer Video Testimonial: Waterstone Mortgage
Hybrid-as-default offers competitive advantage in mortgage industry
With Snapdocs, Waterstone has seen a 40% YoY (year-over-year) increase in their ability to handle loan volume without adding temporary employees or headcount. Waterstone has documented a massive improvement in borrower experience and general operational efficiencies–including a reduction in cost of doing business. Particularly throughout the pandemic, borrowers expect a full digital closing experience, and Waterstone has had a competitive advantage in the market to make homeownership possible no matter the circumstance.
Successful software adoption
One of the most important parts in solving the fragmentation within the mortgage industry is adoption at scale. The hybrid-as-default for borrowers and loan officers helped Waterstone’s adoption process and has made the entire rollout process seamless for the Waterstone team.
“We’ve had tremendous adoption from settlement, LOs [loan officers], and borrowers due to the seamless closing process. We are more than pleased with the way Snapdocs works with our other technology vendors and we cannot recommend them enough.” – Jake Rowoldt, IS Project and Change Manager at Waterstone Mortgage
Increase in month-over-month eNote adoptions & rollout
Waterstone’s partnership with Snapdocs has made following all new laws and regulations within the industry easy for their team to keep track of. When RON (remote online notarization) was legalized in a number of states throughout 2020, Waterstone made the decision to roll out eNote and RON to their borrowers which has continued to help them stand out in the industry. Starting in November of 2020, they’ve made a significant jump to eNote certification every month, and have seen approval not just from borrowers, but from settlement and local municipalities alike.
Tech stack flexibility and efficiency
Waterstone has also seen an increase in flexibility within their tech stack–having the ability to integrate with any LOS and document preparation provider–making it easy to to configure (and reconfigure) their tech stack as they see fit. This is especially important to Jake and the Waterstone team because it allows them to serve their borrowers with a best-in-class homebuying experience.
Learn more about how Waterstone Mortgage moved to 70% hybrid closing in just three months. — Download the case study.
Who is Snapdocs?
Founded in 2013, Snapdocs is the mortgage industry’s leading digital closing platform. With its patented AI technology and connected platform, Snapdocs is on a mission to perfect mortgage closings for all. Powering millions of closings a year, Snapdocs is leading the charge to modernize, streamline, and improve the mortgage process for lenders, borrowers, and settlement. Snapdocs is the only solution with a proven track record of creating a single, scalable process for every closing. Every day, over 130,000 mortgage professionals rely on Snapdocs to automate manual work and digitize paper processes that plague the industry. Snapdocs is a rapidly growing San Francisco based real estate technology company backed by Silicon Valley venture capital funds, like Sequoia, F-Prime Capital, Y Combinator, Founders Fund, and SV Angel.