Snapdocs eVault is now integrated with SitusAMC’s ProMerit platform, allowing warehouse lenders to manage e-note transactions seamlessly and securely from within their warehouse lending system of record.
“Today, e-note adoption by mortgage originators is just under 10 percent, and projections indicate it will reach nearly 30 percent of all new loan originations within a few years,” says Camelia Martin, vice president of e-mortgage strategy at Snapdocs, in a release. “To support this growth, warehouse lenders need to manage e-notes at scale.
“Most large warehouse lenders are not realizing the efficiency benefits of e-notes, and our partnership with SitusAMC equips them to manage e-notes from within their existing systems and capture these benefits,” Martin adds. “This will enable warehouse lenders to better serve the needs of their customers.”
The integration securely allows e-note transactions to pass to and from ProMerit and the Snapdocs eVault. As a result, warehouse lenders centralize their e-note management process within ProMerit and eliminate the need for manual workarounds.
Warehouse banks can now accept e-note transfers, initiate outgoing e-note transfers, reconcile e-note data, and view e-note statuses—processes that typically require manual action within an eVault—all within ProMerit.
Photo: Rivage