Snapdocs and SitusAMC Partnership Empowers Warehouse Banks to Scale eNote Adoption
May 16 2024 - 6:00AM
Business Wire
First-of-its-kind integration between Snapdocs’
eVault and SitusAMC’s ProMerit enables warehouse lenders to manage
eNote transactions from within their system of record
Snapdocs, the mortgage industry’s leading digital closing
provider, today announced a partnership with SitusAMC to integrate
the Snapdocs eVault to SitusAMC’s ProMerit platform. The
partnership allows warehouse lenders to manage eNote transactions
seamlessly and securely from within their warehouse lending system
of record, enabling them to scale eNote adoption with confidence
and ease.
"Today, eNote adoption by mortgage originators is just under
10%, and projections indicate it will reach nearly 30% of all new
loan originations within a few years. To support this growth,
warehouse lenders need to manage eNotes at scale,” said Camelia
Martin, Vice President of eMortgage Strategy at Snapdocs. “Most
large warehouse lenders are not realizing the efficiency benefits
of eNotes, and our partnership with SitusAMC equips them to manage
eNotes from within their existing systems and capture these
benefits. This will enable warehouse lenders to better serve the
needs of their customers.”
The integration between SitusAMC and Snapdocs securely allows
eNote transactions to pass to and from ProMerit and the Snapdocs
eVault. As a result, warehouse lenders centralize their eNote
management process within ProMerit and eliminate the need for
manual workarounds. Warehouse banks can now accept eNote transfers,
initiate outgoing eNote transfers, reconcile eNote data, and view
eNote statuses—processes that typically require manual action
within an eVault—all within ProMerit.
“Today’s market requires integrated technology solutions,” said
Rich Berg, Senior Director of Warehouse and Custodial Technology at
SitusAMC. “This pioneering partnership with Snapdocs gives
warehouse banks a competitive advantage, empowering them with an
innovative and trusted solution to scale eNotes quickly and
efficiently so they can better serve the needs of their
customers.”
The Snapdocs eVault provides a secure and compliant solution for
lenders and their secondary market partners to transact eNotes
effortlessly. Specifically developed for mortgage—in collaboration
with lenders, warehouse banks, servicers, and investors—the
Snapdocs eVault is designed to meet the unique needs of each
participant who interacts with eNotes across the mortgage
lifecycle.
The Snapdocs eVault is now available to ProMerit clients. For
more information, visit SitusAMC.com/ProMerit or contact Rich Berg
at richardberg@situsamc.com.
About Snapdocs
Snapdocs is the mortgage industry’s leading digital closing
provider. Powering millions of transactions each year, Snapdocs
automates the home mortgage experience by connecting the people,
processes, and technologies that power the industry. The company
delivers a fully automated, referral-worthy closing experience
through patented AI technology, hands-on customer service, and an
extensive partner network. This proven approach enables
market-leading lenders, title companies, and secondary market
participants turn the closing process into a competitive advantage.
For more information, please visit www.snapdocs.com.
About SitusAMC
SitusAMC is a leading independent provider of technology,
strategic outsourcing, talent and advisory solutions to the
commercial and residential real estate finance industries. The
company helps clients identify and capture opportunities in their
real estate businesses through industry-leading services and
innovative technologies that drive operational efficiency, increase
business effectiveness, and improve market agility across the
entire lifecycle of their global real estate activity. For more
information visit www.SitusAMC.com.
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Media Contact Sam Garcia, Publicist Strategic Vantage
Marketing and Public Relations 214.762.4457 |
samgarcia@strategicvantage.com
Business Contacts Laura Mighdoll, Business Contact
Snapdocs press@snapdocs.com
Drew Norman, Business Contact SitusAMC
andrewnorman@situsamc.com