Introducing Snapdocs eVault

Snapdocs eVault Blog Post

A Modern eVault, Built from the Ground Up for the Mortgage Industry

At Snapdocs, we envision a future for our industry where every mortgage closing is perfect. Every participant in the closing is connected, their interactions are seamless, and every manual, tedious, repetitive task has been automated away. In this future, mortgage technology is so elegant and intuitive that it fades into the background.

Today, most mortgages are still painfully manual and paper-based. More than 90% of mortgages are closed with a physical promissory note, despite the fact that its digital equivalent – the eNote – creates hundreds of dollars in savings per loan. But implementing the core technologies, integrations, and workflow changes needed to produce eNotes has been so complex that few lenders have done so. Even fewer have successfully scaled. There is incredible value to the industry in unlocking the promise of eNotes.

Snapdocs knows how to solve this type of problem. We have helped hundreds of lenders digitize their closing process. Each day, we connect thousands of lenders, borrowers, settlement agents, and notaries with one another, and we power millions of closings each year. Doing so requires us to deeply understand the role of each of the participants involved, their unique challenges, and what makes them successful.

And that’s why today we’re announcing the next step toward the future of digital mortgage by expanding our existing eVault integration suite to include a fully native option — the Snapdocs eVault. We’re developing a modern eVault, built from the ground up for the mortgage industry.

The Snapdocs eVault will make it so simple to get started with eNotes, and so easy to transact across partners, that doing so will quickly become the default for your closings and the preferred approach for your partners.  eNotes will be generated instantaneously, eSigned by the borrower at closing, registered with MERS® automatically, and you’ll never need to leave your LOS in the process.

We’ve raised a quarter of a billion dollars to solve our industry’s toughest digital closing challenges, and nothing else. We can’t wait to share Snapdocs eVault with you.


Snapdocs eVault: A modern digital hub for post-closing, servicing, and secondary market activities

Snapdocs eVault will provide you with a frictionless end-to-end eNote solution, making it incredibly simple to adopt and scale eNotes. Natively integrated with our digital closing platform, it creates a turn-key eNote solution that allows borrowers to easily preview and eSign the eNote along with the rest of their closing documents. Snapdocs automatically stores the eNote in your eVault so compliance is built-in, eNotes are instantly registered with the MERS® eRegistry, transferred to investors or other partners, and much more.

And that’s just the beginning. We are building more than an eVault. We are building the connectivity and infrastructure that will make digital mortgage transactions inherently faster, more reliable, more profitable and more accessible for lenders and every other party involved.  This industry infrastructure will ultimately allow the seamless exchange of trillions of dollars in mortgage-backed assets across the thousands of industry participants that play a role in the lifecycle of mortgage loans.


Unlock the value of eNotes

eNotes dramatically increase operational and capital efficiency, reduce risk, and improve the accuracy and control of loan collateral. They’re required to offer borrowers a full eClosing.

Lenders using Snapdocs save over $350 on each eNote transaction. That’s a significant reduction in their costs per loan, resulting in a meaningful and lasting improvement to their margins.

However, since we’ve helped leading lenders like Googain, First Republic Bank, LeaderOne and many more implement and adopt eNotes, we’ve experienced the challenges lenders face firsthand. And while our platform and implementation services have made it much easier for lenders to navigate these hurdles, we still see a clear opportunity to improve this further with the Snapdocs eVault. Specifically, we’ve identified a few key ways to make eNotes the default path for mortgage lenders:


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Clarify Investor & Partner Acceptance: 
Provide complete confidence that every eNote can be sold to investors through Snapdocs e-Eligibility Engine, which will be enhanced following our recent partnership with MISMO to build the industry’s first centralized exchange for digital closing acceptance criteria

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Accelerate MERS® eRegistry Activation: 
Streamline and facilitate lenders’ process of becoming activated on the MERS® eRegistry


Remove Financial Friction:
 Eliminate setup fees and charge based on usage, so you only pay for the eNote transactions you actually use


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Provide Unparalleled eNote Implementation Support: 
Through Snapdocs eMortgage Quick Start Program, we’re partnering with leaders like Freddie Mac and others to provide lenders with the expert eNote implementation and change management support they need to not only adopt eNotes, but to also fully operationalize the use of them


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Enhance eVault Technology: 
Deliver a modern, reliable and intuitive solution that allows core eNote functions to be performed right inside the LOS


By making eNotes easier than ever to embrace, we will allow more lenders to:

  • Improve Your Borrower Experience: Borrowers expect fast, convenient experiences that are done right the first time. Differentiate your borrower experience by eliminating errors in the note and offering full eClosings.
  • Reduce Your Cost Per Loan: Reduce dwell time, eliminate rate-lock extensions, decrease shipping and staffing costs, begin servicing loans quicker, and more. By receiving an accurate note instantly after the signing, you realize significant improvements in operational efficiency.
  • Maintain Your Reputation as a Market Leader: Effectively digitizing the note is a critical next step in the mortgage industry’s digital transformation. There is an incredible opportunity for your organization to lead this change.

The future of mortgages: A connected industry

Our mission is to connect all of the participants in a real estate transaction together to create the perfect closing experience. Snapdocs eVault is the next investment in our digital closing platform required to achieve this vision. By expanding upon the connectivity we’ve already built for closings, Snapdocs eVault allows us to seamlessly connect more participants in the mortgage industry and accelerate transactions throughout the life of the loan.

We are actively working with key industry stakeholders to ensure Snapdocs eVault delivers on this promise. If you’re interested in learning more, get in touch with a Snapdocs account manager.


Learn more about 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 leading investors including Sequoia, Y Combinator, Tiger Global, F-Prime, Zigg Capital, Alkeon, Wellington Management, Greenpoint Partners, Maverick, Founders Fund, SV Angel, Gokul Rajaram, Lachy Groom, Jack and Sam Altman and Coyne Lloyd. To learn more, please visit​​​​​.

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