Elevations Achieves eClose Adoption and HELOC Success with Snapdocs

100% eClose adoption¹

6x higher eNote adoption than industry average¹

28 days faster than non-Snapdocs lenders across the loan lifecycle (from application to shipping)²

About Elevations Credit Union

Founded in 1952 and based in Boulder, Colorado, Elevations Credit Union prides itself on empowering communities with financial solutions. Dedicated to going above and beyond, Elevations provides personalized mortgage guidance to make homebuying actionable and attainable.

More than tech: finding a growth partner

In 2019, Elevations recognized the need to modernize its mortgage closing process. “We knew the industry was evolving, and we wanted to be a pioneer of the digital mortgage experience,” said Chelsea Nelson, VP of Mortgage Operations at Elevations. The Elevations team meticulously vetted digital closing providers, seeking a partner with a proven track record of helping lenders scale hybrid and eNote transactions, reduce inefficiencies, and enhance member experiences.

Snapdocs stood out, combining deep industry expertise, reliable support, and a platform that worked seamlessly for both internal teams and members.

Bespoke implementation

Snapdocs created a tailored digital strategy for Elevations, focused on integrating with their existing tech stack and delivering comprehensive training for staff, partners, and members. Based on previous learnings and a desire for strong adoption from the start, Elevations made eClosing the default closing type. This hands-on approach ensured a smooth transition and minimized change management challenges.

“You want a partner who shares your values and understands your culture. Snapdocs became a true extension of our team, committed to setting us up for success from day one. Following their guidance, we configured our systems to default every eligible loan to a hybrid or hybrid with eNote transaction,” said Nelson.

Scaling digital adoption to maximize the benefits

This partnership has delivered remarkable results for Elevation’s digital transformation:

100% eClose adoption, including hybrid, eNote, and RON transactions¹
6x higher eNote adoption than the industry average¹
7% Remote Online Notarization (RON) adoption on purchase volume²

"We're excited about the growth we're seeing with RON. It gives our members more flexibility and convenience, especially when they can't easily make it to a physical closing," shared Nelson.

High adoption drove three primary benefits:

1. Efficiency Gains: The Snapdocs platform automated manual tasks across the business—reducing errors, improving data integrity, and freeing up teams for higher-value work.

“We no longer have to scan or sort documents, which has sped up our closing process and reduced errors. We now average 2-3 days from funding to boarding, down from 7-10 days previously. Snapdocs helped us create operational efficiencies that fed right back into our system—quickly translating into monetary value," added Nelson.

This high speed and adoption also positively impacted Elevation’s relations with secondary market partners. A recent STRATMOR Group survey found that Elevations now processes loans 28 days faster than peers and moves loans off warehouse lines 18.8 days quicker than the industry average.²

"We've had an insane response from the secondary market. They're buying our eNotes faster and with more confidence,” stated Nelson.

2. Visibility and Control: Snapdocs eClosing enhanced visibility and gave Elevations control over when members receive loan documents. This optimizes document delivery and enables faster responses to member questions.

“The reporting capabilities have been huge. We can monitor eSigning status and proactively reach out to members who haven’t signed yet, saving us time and ensuring a smooth closing process,” Nelson explained.

3. Enhanced Member Experience: The member experience has improved significantly. "Members love the ability to review documents and ask questions ahead of their closing appointment," Nelson shared. "It helps them feel comfortable with the process. With Snapdocs, closing appointments now take just 20 minutes. That gift of time is so impactful."

Expanding “The Snapdocs Experience” for HELOC

Elevations recently brought its HELOC (Home Equity Line of Credit) program onto the Snapdocs platform, which accounts for 40% of their overall volume. Once again, Snapdocs customized the rollout, earning quick adoption and positive member feedback. Nelson said it’s important to streamline their entire business and “give our members the Snapdocs experience, across all transaction types.”

Looking ahead, Elevations plans to further enhance its HELOC program with Snapdocs’ eHELOC and eHELOAN offerings and expand RON capabilities for HELOC transactions.

For Nelson, the key to success lies in finding a partner that empowers teams to lead change. "Choose a partner that doesn't just provide technology, but works alongside you to create resources and supports adoption throughout your organization," she advised.

Elevations is building on its digital foundation to deliver an unparalleled mortgage experience. Nelson concluded, "We're on the forefront of the digital revolution and Snapdocs has been an integral part of that journey."

¹ Data based on Snapdocs lender data, MERS eRegistry®, and CoreLogic loan volume data. As of January 2025. Adoption percentages based on eligible volume.
² Data based on STRATMOR Peer Group analysis, The Need for Speed, 2024.