Case Study: HomeStreet Bank achieves faster hybrid closings and higher NPS with Snapdocs

HomeStreet Bank Realizing the Benefits of Hybrid Closings

HomeStreet Bank, an award-winning community bank serving the west coast and Hawaii, needed a way to offer borrowers Remote Online Notarization (RON) during the COVID-19 pandemic while improving operational efficiency across growing loan volumes. To meet borrowers where they are and create one process for every type of loan closing, HomeStreet turned to Snapdocs and its hybrid closing capabilities.

With Snapdocs, HomeStreet implemented a secure Encompass integration and a hybrid closing workflow that enabled RON when needed and gave borrowers a more flexible, transparent experience. The result was a dramatic reduction in closing time from 1.5 hours to 15 minutes, 85% hybrid closings, and a 10-point increase in NPS during Q1 2021, even as loan volume increased.

HomeStreet Bank

Kristi Baker

Senior Vice President & SFL Operations Fulfillment Director