SnapFi, the leading home mortgage uncomplicator, announced that it is the first lender in the state of California to close a digital mortgage. Using remote online notarization (RON), Snapfi was able to digitally complete the entire mortgage process in about half the time it would traditionally take with no need to be in the physical presence of a notary, especially important during this pandemic.
“Due to the increasing difficulty conducting and closing real estate transactions during this tragic pandemic, SnapFi has developed an innovative way to expedite the digital notarization of mortgage documents in California to streamline the entire approval process.”
“COVID-19 is transforming the way business is being conducted and nowhere is that more apparent than in the real estate sector,” said Jim Campagna, Founder & CEO of SnapFi. “Due to the increasing difficulty conducting and closing real estate transactions during this tragic pandemic, SnapFi has developed an innovative way to expedite the digital notarization of mortgage documents in California to streamline the entire approval process.”
Current California law does not allow for the digital notarization of mortgages in the state. In the wake of COVID-19, however, California will follow suit with other states that do allow for digital notarization. SnapFi immediately seized upon this opportunity.
Read More: smartTrade’s Solution Awarded Best Multi-Asset EMS System by Markets Media
As an innovative digital mortgage lender, SnapFi had been successfully working towards the full digitization of the consumer-facing experience during the mortgage process. Having digitized all aspects of the mortgage process, RON was the final step towards a complete e-mortgage experience, making SnapFi the first lender in CA to offer such a forward-thinking product for its many customers stymied by the restrictions in California.
The entire mortgage process was extremely simple thanks to SnapFi’s advanced technology and expertise. The lender first initiated RON for the digital notarization of mortgage documents in the state of Virginia. From there, the documents were sent to the borrower in Santa Clara County (California) and then to SnapFi at their headquarters in San Jose, California.
Read More: Simple Announces Launch of Tax Refund Feature to Automate Savings for Customers
