American Bancshares among first to use integration to drive faster closing times, reduce operating costs
SAN FRANCISCO – September 28, 2022 – Snapdocs, the mortgage industry’s leading digital closing platform, today announced the completion of its integration with BeSmartee’s digital mortgage platform. The integration enables lenders nationwide to offer a modern borrower experience that spans loan origination to closing, drives faster closing times, and reduces operating costs. Mortgage lender American Bancshares is among the first customers to use the integration.
"Our integration with BeSmartee is another step in our mission to deliver perfect closings at scale,” said Todd Maki, Vice President of Business Development & Partnerships at Snapdocs. “We believe borrowers deserve a seamless mortgage experience, regardless of the parties or technologies involved. Our continued work in partnering with leading providers like BeSmartee is essential in enabling lenders nationwide to offer best-in-class closing experiences, streamline workflows, and increase efficiencies.”
The new integrated solution employs machine learning to automate and streamline the borrower's closing document review and signature steps. By removing manual administrative tasks, the technology increases efficiency and loan officers’ capacity to support more homebuyers through the mortgage process. The integration is supported by Snapdocs’ multi-party workflow engine, which coordinates the activities of all stakeholders in a closing to bring clarity and transparency to every step of the process, reduce loan costs, and save valuable time for lenders and borrowers.
Mortgage lender American Bancshares is already using the integration to deliver better customer experiences. American Bancshares has been a Snapdocs customer since early 2021 and currently processes most of their volume on Snapdocs, most of which are hybrid closings where borrowers opt-in to eSign and ultimately attend a significantly faster closing appointment. The integration with BeSmartee will accelerate this success and enable borrowers to perform all mortgage activities in their POS.
“Closing is one of the most impactful moments that can make or break our customers' experience, and we want to make it as seamless and simple as possible. The integration between BeSmartee and Snapdocs enables our borrowers to complete all mortgage tasks within a single portal, and it’s already proving to be a differentiator for ABSM," said John Cosculluela III, General Counsel, American Bancshares.
“Snapdocs is a true partner to mortgage lenders,” said Veronica Nguyen, Executive Vice President and Co-Founder, BeSmartee. “The team works hard to connect the industry ecosystem and designs the best closing experience for every participant. This partnership is evidence of that expertise and will further our mission of enabling lenders nationwide to deliver a state-of-the-art experience for borrowers.”
Snapdocs is the mortgage industry’s leading digital closing platform. Powering millions of closings each year, Snapdocs combines an open platform, patented AI technology, the largest settlement network, and a team of industry experts to ensure digital closing success. Our proven approach enables market-leading lenders and title companies to automate the closing process and turn it into a competitive advantage. Using Snapdocs, lenders and title companies close more loans at lower costs while delivering the modern, referral-worthy digital experience borrowers expect. For more information, please visit www.snapdocs.com.
Leading fintech firm BeSmartee is transforming the financial services industry with its award-winning, web-based digital mortgage platforms for banks, credit unions and non-bank lending institutions. BeSmartee delivers a complete digital mortgage experience that goes deeper into the origination process to help lenders convert higher and close faster — making a once tedious, paper-laden process fast, easy and transparent for all. For more information, visit https://www.besmartee.com.