Digital closing provider Snapdocs recently announced a partnership with SitusAMC to integrate the Snapdocs eVault to SitusAMC’s ProMerit platform.

The partnership allows warehouse lenders to manage eNote transactions from within their warehouse lending system of record, enabling them to scale eNote, according to a press release.

“Today, eNote 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. To support this growth, warehouse lenders need to manage eNotes at scale,” Camelia Martin, vice president of eMortgage strategy at Snapdocs, said in the release. “Most large warehouse lenders are not realizing the efficiency benefits of eNotes, and our partnership with SitusAMC equips them to manage eNotes from within their existing systems and capture these benefits. This will enable warehouse lenders to better serve the needs of their customers.”

The integration between SitusAMC and Snapdocs allows eNote transactions to securely pass to and from ProMerit and the Snapdocs eVault. As a result, warehouse lenders centralize their eNote management process within ProMerit and eliminate the need for manual workarounds.

Warehouse banks can now accept eNote transfers, initiate outgoing eNote transfers, reconcile eNote data, and view eNote statuses within ProMerit.

 “Today’s market requires integrated technology solutions,” Rich Berg, senior director of Warehouse and Custodial Technology at SitusAMC, said. “This pioneering partnership with Snapdocs gives warehouse banks a competitive advantage, empowering them with an innovative and trusted solution to scale eNotes quickly and efficiently so they can better serve the needs of their customers.”