US-based Snapdocs, a digital closing platform for the mortgage industry, has announced a new integration with Finastra’s Mortgagebot loan origination system (LOS) to power financial services firm Trustmark’s eClose transformation.
Through the integration, Trustmark’s lenders across the US are expected to complete closings in one centralised workflow by leveraging Snapdocs’ digital closing platform within the LOS platform.
It is anticipated to facilitate faster closing times, lower operational expenses, and improve the borrower experience.
Snapdocs eMortgage strategy and industry affairs vice president Camelia Martin said: “The transition to digitised processes is the most successful when the technologies in a lender’s existing stack work harmoniously together.
“Our continued effort to expand our partner network and accompanying integrations with leading providers like Finastra is essential in creating more value for the entire mortgage ecosystem.”
Within MortgagebotLOS, lenders will be able to place orders for the necessary closing papers and data, which are then safely sent to Snapdocs to start the closing procedure.
The completed documents are encrypted after that and sent to MortgagebotLOS for storing securely.
Trustmark’s fully-owned subsidiary Trustmark National Bank is using the integration for the automation of the closing process across its technology ecosystem and offer upleveled customer experiences.
Trustmark mortgage services senior vice president Robert Parker said: “Our mission since our founding in 1889 has been to achieve outstanding customer satisfaction.
“The integration between Snapdocs and MortgagebotLOS will build on the strong foundation we’ve built to move to digital mortgages by simplifying the eClosing process for all parties involved, and making it significantly easier for our borrowers to quickly review and sign closing packages the way they prefer.”
Snapdocs said that the collaboration is the latest of five different integrations built by the firm under 12 months to enable lenders to connect their technology portfolio and further optimise the shift to digital closings.
Established in 2012, Snapdocs brings together an open platform, patented artificial intelligence (AI) technology, a settlement network, and a team of industry experts for driving digital closing success.
