America First Credit Union (AFCUE) is one of the first lenders to use the integration, according to the company’s press release. The credit union digitized its home equity closings and reported a Net Promoter Score of 100 among its members after implementation.
“Our members can now complete a home equity closing in minutes – either in the office, with a mobile notary or remotely,” said Austin Coleman, senior vice president of mortgage lending at America First Credit Union. “We have turned what was once a slow, paper-heavy process into a seamless, fully digital experience that is faster for our members, easier for our staff and consistent across every loan type.”
Snapdocs said the integration is intended to help lenders cope with growing demand for home equity products as homeowners can tap into the equity they have built. The company noted that the partnership is “well timed” as equity lending increases.
“As homeowners tap into record levels of equity, home lending has become a core growth and retention strategy for many lenders,” said Camelia Martin, vice president of eMortgage strategy and industry affairs at Snapdocs. “By digitizing home equity closings, lenders can meet that demand while improving efficiency and delivering the experience consumers expect.”
According to the Association of Mortgage Bankers (MBA)’s latest Home Equity Study, cited by Snapdocs, shows originations of open-ended HELOCs and closed-end home equity loans increased 7.2% year over year through 2024, while total outstanding home equity debt rose more than 10%. Nearly 40% of consumers use mortgage loans for debt consolidation, the association reports.
“MeridianLink Consumer was built to help lenders make money faster and smarter,” said Wes Zauner, vice president of product management at MeridianLink. “Our partnership with Snapdocs delivers an end-to-end home equity workflow that reduces friction, strengthens compliance and improves borrower satisfaction.”
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