Waterstone Mortgage is one of the nation’s largest mortgage lenders with approximately 650 employees and ability to lend in 48 states. The firm is synonymous with innovation and exceptional service. With this reputation, Waterstone’s volume hit an all time high in 2020, a more than 40% year-over-year increase, due to the pandemic. Prior to this rapid growth, Waterstone began a strategic initiative to transition all closings into digital experiences.
After adopting Snapdocs, Waterstone went from zero digital closings to closing 70% of its loans as hybrid closings — in just three months.
“We’re already seeing Snapdocs and our ‘hybrid as default’ offering become a competitive advantage. It’s still a nice surprise for some once they’ve chosen Waterstone Mortgage as their partner, but borrowers now seek us out because of it,”
—Tom Knapp, CIO of Waterstone Mortgage.
Previously the firm battled finding a competitive advantage to offer borrowers as well as manual document errors causing unsuccessful and elongated signings.
Snapdocs offered a digital closing solution with remote closing (RON) capabilities that lenders want to use, and borrowers see as a benefit to electronically review and eSign documents before closing day. It was important for Waterstone to launch an eClosing solution with hybrid closings to offer borrowers any type of closing.
Learn more about how Waterstone Mortgage’s closing process transformed with Snapdocs.
