SEATTLE – (COMMERCIAL THREAD) – HomeStreet Bank’s mortgage division successfully completed its first all-digital close on October 13, becoming one of the first banks in the country to do so. Using Snapdocs’ digital signature solution and Remote Online Notarization (RON) capabilities, HomeStreet offers clients a highly efficient and convenient path to homeownership.
“We are delighted to partner with HomeStreet Bank, a lender already synonymous with exceptional service, to help them become one of the first mortgage lenders in the country to offer a fully digital closing experience to their borrowers,” said Vishal Rana , Vice President of Clientele. Success at Snapdocs.
Rana added, “With Snapdocs’ eClosing technology, HomeStreet Bank offers borrowers the ability to close their homes quickly and without error, from anywhere in the world. The benefits of a RON fence go beyond ease of use: borrowers are reassured that Snapdocs’ industry-backed RON standards guarantee a high level of security, superior to its alternative to the ink on paper, ”he said.
Universal demand for RON is increasing as it removes the pen and paper barrier as well as the physical presence to complete the signature process historically required to get a notarized document.
“At HomeStreet, we are committed to enriching the lives of our customers by providing the services and solutions that make their lives easier,” said Mark K. Mason, President, CEO and Chairman of the Board of HomeStreet Bank. “A fully digital closing option for our mortgage clients helps streamline the home buying process and put time back on their calendars,” he added.
“We pride ourselves on being pioneers in the industry while bringing cutting edge technology to today’s banking platforms,” said Mason.
Founded in 2013, Snapdocs is the leading digital closing platform for the mortgage industry. With its patented AI technology and connected platform, Snapdocs is on a mission to perfect mortgage fencing for everyone. Powering millions of fences a year, Snapdocs is leading the charge to modernize, streamline and improve the mortgage process for lenders, borrowers and settlement. Snapdocs is the only solution proven to create a unique and scalable process for every fence. Every day, more than 130,000 mortgage professionals rely on Snapdocs to automate manual work and digitize the paper-based processes that plague the industry. Snapdocs is a growing San Francisco-based real estate technology company backed by top investors including Sequoia, Y Combinator, Tiger Global, F-Prime, Zigg Capital, Alkeon, Wellington Management, Greenpoint Partners, Maverick, Founders Fund , SV Angel, Gokul Rajaram, Lachy Groom, Jack and Sam Altman and Coyne Lloyd. For more information, please visit snapdocs.com.
About HomeStreet, Inc.
HomeStreet, Inc. (Nasdaq: HMST) (the “Company”) is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii through its various operating subsidiaries. The main business of the Company is community banking, including: commercial real estate loans, commercial loans, residential construction loans, single-family residential loans, retail banking, private banking and banking services. assurance. Its main subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet Bank is winner of the 2022 “Best Small Bank” in Washington News week magazine award. Certain information about our business is available on our bank’s website at http://www.homestreet.com and on our investor relations website at http: //ir.homestreet .com.