Weichert Financial Services chooses Snapdocs to tailor digital closing experience for settlement partners and borrowers
Weichert Takes Early Adopter Position by Leveraging Leading Snapdocs Platform to Streamline and Standardize Closeout Process
SAN FRANCISCO (PRWEB) April 07, 2021
Snapdocs, provider of the mortgage industry’s leading digital closing solution, today announced that Weichert Financial Services has selected Snapdocs to create a single, scalable process with its settlement partners. Weichert Financial chose Snapdocs’ digital closing platform to streamline and standardize their process to close more loans, at lower cost, while delivering the simple and intuitive digital experience borrowers have come to expect.
Homebuyers are increasingly looking for a streamlined mortgage process that cuts down on paperwork and speeds up the time to close. The typical real estate closing can have up to 100 documents involved at different stages of the transaction.
“Our goal was to create a hybrid loan offer that would reduce the number of documents from 100 to around 20 at the time of closing,” explained Eric Declercq, president of Weichert Financial Services. “Thanks to Snapdocs’ state-of-the-art digital fence platform, we can now ask clients to sign various documents earlier in the process, dramatically reducing the stress of final closing. Technology provides a better and more responsive experience for our clients and a streamlined process for lenders. “
Due to COVID-19 restrictions, the pace of changing customer demand has accelerated, further amplifying the benefits of digital closings. Weichert was already working with Snapdocs to provide a digital lockdown environment for his customers when the pandemic hit. As a result, Weichert is well positioned as a driver and early adopter of hybrid and fully digital fencing.
“Weichert has always taken the initiative to leverage technology to produce a superior experience that we
refer to the All Under One RoofSM customer experience. The shift to a fully digital fence experience is on track and will grow exponentially in 2021 and beyond, ”said Declercq. “We are delighted to be working with Snapdocs on this ambitious effort. “
Snapdocs powers millions of mortgage closings a year. Its digital closing platform will allow Weichert Financial Services and its settlement partners, in particular the Weichert Title Group, to modernize, streamline and improve the mortgage closing process for each participant. By coordinating every part on a single platform, leveraging AI to automate manual tasks, and delivering a modern digital borrower experience, Weichert Financial Services will close more loans, at lower costs, while increasing quickly and significantly its activity and market share within a short timeframe. growing sector.
“Now is the time for digital transformation in real estate and mortgages,” said Aaron King, Founder and CEO of Snapdocs. “Weichert Financial Services has recognized the value of digital fencing for some time, and this value has become particularly apparent over the past year. Customers like Weichert are already seeing operational efficiencies and better experiences for customer referrals from digital fencing, which allows them to clearly differentiate us from our competition. We are excited to partner with Weichert as they move towards a standardized digital closing process.
According to the Federal Housing Finance Agency (FHFA), the purchase of electronic mortgages by Fannie Mae and Freddie Mac increased significantly in the first six months of 2020. The FHFA reported that electronic mortgages accounted for 4, 25% of all mortgage purchases for a family made by the two agencies in the first half of the year, representing $ 38.8 billion in mortgages. This represents an increase of 66% compared to 2018.
“All signs point to this demand continuing to increase as customers move beyond COVID to appreciate the benefits of speed and simplicity, and more mortgage service providers are following suit. de Weichert and offer hybrid and fully digital loan packages, ”Declercq said.
Founded in 2013, Snapdocs is the leading digital closing platform for the mortgage industry. With its patented AI technology and connected platform, Snapdocs is on a mission to perfect mortgage fencing for everyone. Powering millions of fences 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 proven to create a unique and scalable process for every fence. Every day, more than 130,000 mortgage professionals trust Snapdocs to automate manual work and digitize the paper-based processes that plague the industry. Snapdocs is a growing San Francisco-based real estate technology company backed by Silicon Valley venture capital funds, such as Sequoia, F-Prime Capital, Y Combinator, Founders Fund, and SV Angel. To learn more, please visit https://snapdocs.com.
About the Weichert family of companies
Since 1969, Weichert has grown from a simple real estate office to one of the nation’s leading providers of homeownership services by putting clients first. A family of 18 full-service real estate companies, Weichert provides an integrated real estate, mortgage, insurance and title settlement solution – under the All Under One Roof ℠ brand – to simplify the shopping experience of ‘a home for buyers and sellers. Weichert relies on its client website, http://www.weichert.com, one of the nation’s most visited real estate websites, to help families and individuals realize their dream of homeownership. through quick and easy access to listing information and services from its real estate professionals nationwide. Like other family-owned and operated businesses, Weichert enjoys greater public trust according to several national surveys. For more information about Weichert Financial Services, or to find out more about the real estate-related financial products and services it offers, visit http://www.weichertfinancialservices.com or call 800-829-2274.
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