Snapdocs recently announced a strategic integration with MeridianLink’s cloud-based consumer loan origination system (LOS) to streamline digital home equity closings for lenders across the United States. This collaboration will enable financial institutions to efficiently administer their home equity line of credit (HELOC) and home equity loan (HELOAN) transactions entirely through a single solution. With this collaboration, lenders can now use the MeridianLink Consumer system to process these online transactions at a faster rate. This move addresses the growing demand for modern lending tools in the current housing market.
The agreement targets automating manual processes in order to minimize errors within the closing phase. This enables lenders to present consumers with hybrid and fully digital choices, including online remote notarization. By using the Snapdocs platform, signed documents flow back into the system automatically. This cycle saves time and lowers costs for every loan processed.
Benefits for Modern Lenders and Borrowers
America First Credit Union is one of the early adopters of this new technology. They reported a perfect member Net Promoter Score (NPS) after digitizing 100% of their home equity closings. This success highlights how digital home equity closings improve the overall member experience.
“Our members can now complete a home equity closing in minutes, whether in-branch, with a mobile notary, or remotely,” said Austin Coleman, SVP of Mortgage Lending at America First Credit Union. “We’ve turned what was once a slow, paper-heavy process into a seamless, fully digital experience that’s faster for our members, easier for our staff, and consistent across every loan type.”
“Connecting Snapdocs with MeridianLink Consumer positions lenders to meet the growing demand for home equity lending while improving efficiency,” said Camelia Martin, Vice President of eMortgage Strategy & Industry Affairs at Snapdocs.
“Our partnership with Snapdocs embeds best-in-class digital closing directly within the MeridianLink One platform, giving lenders a unified, end-to-end home equity workflow that reduces friction, strengthens compliance, and improves borrower satisfaction,” said Wes Zauner, Vice President, Product Management at MeridianLink.
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News Source: Businesswire.com
