Eclose 101

What is eClosing?

Learn about eClosings—and how they provide a faster, transparent, error-free process for all closing participants.

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The definition of eClosing

An eClosing, commonly referred to as a digital closing, is a mortgage closing where most or all of the process is electronic. Lender documents are digitized and automatically routed to all participants.

Within the Snapdocs eClosing software, borrowers can preview their closing package and eSign most or all documents before the closing appointment. The Snapdocs platform allows all parties to coordinate and collaborate through one fully integrated system.

The different types of digital mortgage closings (eClosings)

You may hear terms like “wet", “hybrid", or “RON".” These are different digital closing types that differ depending on how many documents can be signed electronically (eSigned). Today, most lenders start with wet and hybrid closings–where a portion of the documents are eSigned. Snapdocs partners with lenders to scale wet and hybrid closings to ultimately achieve hybrid + eNote and full eClose (RON).

Wet Closing

The borrower previews all closing documents within the Snapdocs platform, where they can identify potential errors before the closing appointment. The borrower then attends an in-person closing appointment, where they wet-sign (ink-sign) the full closing package.

Hybrid Closing

The borrower previews all closing documents and eSigns the majority of closing documents within the Snapdocs platform. The borrower then attends a short in-person closing appointment, where they wet-sign (ink-sign) remaining documents that require notarization.

Hybrid + eNote Closing

Hybrid + eNote is the same as a hybrid closing, with the addition of an electronic promissory note (eNote). Both the eNote and most closing documents are signed within Snapdocs’ eClosing Platform prior to the in-person closing appointment. This is commonly called an eMortgage.

Full eClosing (RON)

The borrower completes the entire closing digitally. Similar to a hybrid + eNote closing, the borrower previews all closing documents and eSigns the majority of documents within the Snapdocs platform. Instead of attending an in-person closing appointment, the borrower attends a virtual closing with a notary to electronically sign any remaining documents that require notarization.

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The Snapdocs eClosing solution and white-glove support services are built to guide lenders through the stages of eClosing maturity—from wet and hybrid to full eClose.

eClosing benefits

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A better homebuying experience for borrowers

Borrowers preview their closing documents before their appointment—so they know what to expect on closing day, and have plenty of time to ask questions in advance. 

ROI
Higher team productivity & lower operating costs

Automated workflows help closing teams decrease the amount of time spent on manual tasks, and reduce operational costs related to shipping, sorting, and tagging documents.

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Fewer risks & errors

Digital documents and accurate AI-powered quality control means closing documents are secure, error-free, and can't be lost, damaged, or tampered with. 

Everybody wins when you go digital

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Key Results

  • 94% borrowers previewed their documents prior to the closing
  • 80% loan closings eligible to eSign
  • 100% closings on platform
  • 5 months, successful rollout
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There are a number of eClosing providers to choose from. The key is finding the provider who shares your success story, and who partners with you to reach a common goal.

Snapdocs is a win-win. It’s a win for customer experience and it’s a win for efficiency.”

– Jeff Henkel, SVP Closing Fulfillment

Explore the #1 eClosing solution

The Snapdocs digital closing solution enables lenders to achieve perfect closings at scale.

Closing Package Uploaded. Documents ready to preview.
eClose technology

Experience the industry’s top eClose platform that processes every loan type with tools that automate, standardize, and drive transparency in mortgage.

Settlement network

Access the largest network of settlement agents, settlement offices, and notaries.

Dedicated team

Snapdocs provides true partnership with a hands-on, custom approach to the entire eClose journey, from implementation to scaling eNote, RON, and beyond.

Definitive guide to digital closings

eBOOK

The Definitive Guide to Digital Closings

This comprehensive guide provides a clear picture of the current mortgage landscape and unpacks how to evaluate and successfully implement eClose technology.

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Snapdocs eClosing ROI Calculator

Calculate how much your company can save with the Snapdocs digital mortgage closing platform.

Additional eClosing resources

Who is Snapdocs?
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Who is Snapdocs?
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Snapdocs Platform Overview
eBooks Guides and More
Snapdocs Platform Overview
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Research Finds Digital Closings Create Up to 10 Bps Pricing Advantage
Press Release
Research Finds Digital Closings Create Up to 10 Bps ...
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Lender's Guide: The ROI of Digital Closings
eBooks Guides and More
Lender's Guide: The ROI of Digital Closings
Download Now
Snapdocs Expands Digital Closing Platform & Unveils New Brand Identity
Press Release
Snapdocs Expands Digital Closing Platform & Unveils New ...
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A New Look in a New Era: Snapdocs Rebrand Reflects Growth & Connection
Blog
A New Look in a New Era: Snapdocs Rebrand Reflects Growth ...
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Zions Achieves 75% Hybrid eClosing Adoption After Just One Month
Press Release
Zions Achieves 75% Hybrid eClosing Adoption After Just One ...
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60% of Homebuyers Experience Frustration During the Mortgage Process
Press Release
60% of Homebuyers Experience Frustration During the ...
See More

Ready to transform your closing experience?