Sells mortgage lenders and title companies the software and settlement and notary network that run the closing (eSign, hybrid, RON and eNote closings), and is extending into AI checks of closing documents, trailing documents and secondary-market collateral delivery.
What is Snapdocs, and which banks use it?
Snapdocs is a private San Francisco company, founded in 2013 and valued above $1.5 billion in its 2021 Series D, that runs digital mortgage closings and uses AI to check closing and funding documents. Among our 100 banks, Zions (eClosing and AI Funding QC), Trustmark and FirstBank (FB Financial) use it, and BNY announced a digital-collateral initiative with it in May 2026. Lender platform pricing is not published; Snapdocs lists prices only for its remote online notarization plans.
Category
Founded
2013
Headquarters
San Francisco, California, US
Ownership
Private and venture-backed. A $150 million Series D in May 2021, led by Tiger Global Management with Y Combinator, Sequoia, F-Prime Capital, Maverick Ventures, Alkeon and Wellington, valued Snapdocs at over $1.5 billion and brought total funding to $260 million; no later round has been announced.[6]
Deployment
Cloud (SaaS) platform connecting lenders, settlement agents and notaries, with loan-origination-system integrations
Pricing
Lender and title products (eClosing, eVault, Quality Control) sold through sales-led contracts; RON plans sold as monthly subscriptions plus per-transaction fees; Notary Connect on annual subscriptions · not published
Banks among the 100
4
- Snapdocs raised a $150 million Series D in May 2021, led by Tiger Global, at a valuation above $1.5 billion, bringing total funding to $260 million; its October 2020 Series C of $60 million was led by YC Continuity.
- Michael Sachdev, president since 2021, became CEO in September 2023; founder Aaron King became executive chairman.
- Snapdocs says it powers one in four US mortgage transactions and that its lender customers reach digital closing adoption at three times the industry average (vendor-reported, October 2024).
- Its AI Funding and Post-Close Quality Control, generally available since March 2025, flags missing signatures, dates and notary stamps; Snapdocs reports 99% fewer pages needing manual review and about $140 saved per loan (customer data, vendor-reported).
- Zions Bancorporation was an early adopter of Funding QC and reported 98% fewer pages needing manual review, per an October 2024 Snapdocs release.
- In May 2026 Snapdocs and BNY announced an initiative to combine BNY's document custody with Snapdocs' eVault, document classification and data extraction for touchless collateral delivery to the secondary market.
- Snapdocs publishes prices only for its remote online notarization plans (from $20 per user per month); pricing for the lender eClosing, eVault and QC products is not published.
What does Snapdocs sell to banks?
| Product | What it does | Status |
|---|---|---|
| eClosing platform[10][7] | Digitizes all loan and closing types (hybrid, eNote and remote online notarization closings) and integrates with lenders' loan origination systems. | Generally available |
| Funding Quality Control and Post-Close Quality Control[11] | Proprietary AI checks that critical-to-fund documents are present, signed, dated and stamped, and indexes post-close packages against the lender's QC checklist, with expert reviewers for post-close. | Generally available |
| Trailing Document Management[11][10] | Tracks and receives final documents from settlement agents and pushes them back to the loan origination system, using AI to confirm documents are accurate and received. | Generally available |
| CD Balancing[10] | Compares Closing Disclosures between lender and settlement agent, surfaces fee differences and pushes corrected fees to the lender's system of record. | Generally available |
| eVault[10] | Secure creation, storage and transfer of eNotes and other digital mortgage documents. | Generally available |
| Notary Connect[3][10] | Notary scheduling and a verified notary network (commission, background check, E&O insurance and ID checked), sold on annual subscriptions. | Generally available |
| Snapdocs RON[2] | Remote online notarization, in-person electronic notarization and eSignature in one platform for notaries, teams and businesses. | Generally available |
| Automated collateral delivery and eCustody (with BNY)[14][13] | Planned end-to-end digital collateral delivery from closing to BNY's custody, combining Snapdocs' eVault and document intelligence with BNY's custody capabilities. | Announced |
How much does Snapdocs cost?
How it is charged: Lender and title products (eClosing, eVault, Quality Control) sold through sales-led contracts; RON plans sold as monthly subscriptions plus per-transaction fees; Notary Connect on annual subscriptions.
| Product | Plan | List price | Unit | Checked |
|---|---|---|---|---|
| Snapdocs RON (remote online notarization; not the lender AI products) | Notary[2] | $20 | per user per month (1 user, 1 free RON; RON $25 per mortgage transaction, $15 non-mortgage; IPEN and eSign $5 per transaction) | Sep 24, 2026 |
| Snapdocs RON (remote online notarization; not the lender AI products) | Team[2] | $50 | per team per month (unlimited users, 3 free RONs) | Sep 24, 2026 |
| Snapdocs RON (remote online notarization; not the lender AI products) | Enterprise[2] | Custom pricing | volume and bulk discounts, APIs and integrations | Sep 24, 2026 |
Pricing for Snapdocs' lender eClosing, eVault, Quality Control and CD Balancing products is not published; the only published prices are for Snapdocs RON, a notarization package aimed at notaries, teams and businesses.
Which banks use Snapdocs?
| Bank | What | Status |
|---|---|---|
| Zions Bancorporation | Hybrid digital mortgage closings across the Zions network of banks, plus early adoption of Snapdocs' AI Funding Quality Control, which cut pages needing manual review by 98% (Zions-provided data, per Snapdocs).[9] | In production |
| Trustmark Corporation | Digital mortgage closings run from Finastra's Mortgagebot loan origination system through a Snapdocs integration that Trustmark National Bank was already using in May 2023.[7] | In production |
| FB Financial Corporation (FirstBank) | FirstBank (Nashville) selected Snapdocs as its digital closing partner in February 2022 and requires all loans to close through the Snapdocs eClosing platform (Snapdocs case study).[4] | In production |
| BNY (Bank of New York Mellon) | Joint initiative, announced May 2026, to deliver automated collateral delivery and eCustody that combines BNY's document custody with Snapdocs' eVault, document classification and data extraction.[14][13] | Announced |
Among the 100 largest US banks on this site, from sources that name the bank: the bank, Snapdocs or the press. Status is the furthest stage a source confirms.
What is Snapdocs digital closing platform?
An eClosing solution for all loan and closing types, an eVault for eNotes and Notary Connect scheduling, plus AI-based Funding and Post-Close Quality Control that checks closing packages for missing signatures, dates and notary stamps.[10][11]
What has Snapdocs done, and when?
- May 14, 2026
- Mar 10, 2026
Hires VP of Lender Growth[12]
Jamie Mottern, formerly of CitiMortgage and Docutech, joined as the company extended into pre- and post-closing workflows.
- Mar 6, 2025
AI Quality Control made available[11]
Funding QC, Post-Close QC and Trailing Document Management became available; Snapdocs reported 99% fewer pages needing manual review from customer data.
- Oct 15, 2024
New brand and AI roadmap[10]
Snapdocs announced AI-powered CD Balancing, Funding QC, Post-Close QC and Trailing Document Management, and said it powers one in four US mortgage transactions.
- Oct 3, 2024
Zions reports results with Snapdocs[9]
Zions reached over 75% hybrid closing adoption in its first month and, as an early adopter of AI Funding QC, cut pages needing manual review by 98%.
- Sep 14, 2023
Michael Sachdev named CEO[8]
President Michael Sachdev succeeded founder Aaron King as CEO; King became executive chairman.
- May 2, 2023
Integration with Finastra Mortgagebot for Trustmark[7]
Snapdocs built an integration with Finastra's Mortgagebot loan origination system to support Trustmark's move to digital closings; Trustmark National Bank was already using it.
- Feb 1, 2022
FirstBank selects Snapdocs[4]
FirstBank of Nashville chose Snapdocs as its digital closing partner in February 2022 after an earlier vendor fell short, and later moved all loans to Snapdocs eClosing.
- May 25, 2021
$150 million Series D at a valuation above $1.5 billion[6]
Tiger Global led the round, which brought total funding to $260 million.
- Oct 12, 2020
$60 million Series C led by YC Continuity[5]
Snapdocs said it had raised $103 million since 2014 and was on track to process 1.5 million digital closings in 2020; DocuSign joined as a new investor.
- Jan 1, 2013
What do banks use Snapdocs for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| AI funding and post-close quality control[11][9] | Automated checks that critical-to-fund and post-close documents are present and correctly executed before a mortgage is funded or sold. | In production | Credit scoring & underwriting |
| Settlement and notary coordination[3][10] | Connects the lender with title and settlement agents and a verified notary network, with credential checks on notaries. | In production | Third-party & vendor AI |
| eNote vault and digital collateral custody[13][10] | eVault storage and transfer of eNotes, and the planned BNY eCustody service with an immutable audit trail and chain of custody. | Announced | Cybersecurity |
| Document classification and data extraction for collateral[14][13] | Classifies collateral documents and extracts data to automate QC and certification in the BNY initiative. | Announced | Generative & agentic AI |
What has Snapdocs disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Series D funding and valuation | $150 million at a valuation above $1.5 billion; $260 million raised in total[6] | May 25, 2021 |
| Share of US mortgage transactions (vendor-reported) | One in four[10] | Oct 15, 2024 |
| Quality Control results (vendor-reported, from customer data) | 99% fewer pages needing manual review; nearly 1.5 hours and about $140 saved per loan[11] | Mar 6, 2025 |
| Zions pages needing manual review after Funding QC (Zions-provided data) | Down 98%[9] | Oct 3, 2024 |
| Digital closings on track for 2020 (vendor-reported) | 1.5 million, more than double 2019[5] | Oct 12, 2020 |
“The speed at which we've adopted hybrid closings demonstrates the effectiveness of the Snapdocs platform and their dedication to our digital closing success.”[9]
Mike Pell · EVP of Enterprise Mortgage, Zions Bancorporation · Oct 3, 2024
“As digital collateral reshapes how loans are financed and traded, we are investing in solutions designed to enable faster, more transparent, and secure asset movement.”[14]
Johnny Wijaya · Head of Structured Finance & Document Custody Solutions, BNY · May 14, 2026
Who runs Snapdocs?
Which rules apply to a bank using Snapdocs?
| Authority | Why it matters here | Documents |
|---|---|---|
| OCC | Snapdocs handles closing packages, eNotes and borrower data for national banks such as Zions, so its platform and notary network are a third-party relationship to manage under OCC Bulletin 2023-17, including oversight of Snapdocs' own subcontracted notaries. | OCC Bulletin 2023-17 |
| Federal Reserve | State member banks using Snapdocs' AI Funding QC to decide which closing pages get human review should treat the vendor's AI checks under SR 26-2's model-risk expectations where outputs drive funding decisions, and the relationship under SR 23-4. | SR 26-2 SR 23-4 |
| FDIC | For FDIC-supervised banks outsourcing digital closings and eNote custody to Snapdocs, the interagency third-party guidance (FIL-29-2023) covers due diligence, contract terms on data and business continuity, and ongoing monitoring. | FDIC FIL-29-2023 |
| NY DFS | A New York-regulated bank sending closing documents with nonpublic borrower information through Snapdocs must cover it under the third-party service provider security policy required by 23 NYCRR Part 500. | 23 NYCRR Part 500 |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness.
What should a bank note before buying Snapdocs?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
Lender pricing is not published
Snapdocs publishes prices only for its RON notarization plans; eClosing, eVault, Quality Control and CD Balancing are sold through sales-led contracts.
02
Results are vendor-reported
The 99% page-review reduction, the $140-per-loan saving and the one-in-four market share figure come from Snapdocs' own releases and customer data; the Zions figures were provided by Zions to Snapdocs.
03
The BNY relationship is an announced initiative
The May 2026 release describes a joint solution to be delivered with BNY; it does not report live volumes, and BNY acts as custodian for other lenders rather than as a closing customer.
04
The AI is concentrated in quality control
Snapdocs' AI claims cover document checks (signatures, dates, stamps, CD fee differences, collateral classification), not credit decisions; the rest of the platform is closing workflow and network software.
05
Funding is from 2021
The last announced round was the May 2021 Series D; no later funding, valuation or financial results are public for this private company.
What are the alternatives to Snapdocs?
Blend
Origination software for mortgages, home equity, consumer loans and deposit accounts; its Autopilot AI agent reviews borrower documents.
Ocrolus
Classifies, extracts and checks lending documents (bank statements, pay stubs, tax forms) and returns cash-flow and income analytics.
Abrigo
Lending, loan review, CECL and AML software for US community and regional banks, with generative and agentic AI assistants added since 2025.
Covecta
Agentic AI for banks and lenders: pre-built agents that read documents, draft credit memos and run loan and deposit operations checks.
How much does Snapdocs cost?
Snapdocs does not publish pricing for its lender products (eClosing, eVault, Quality Control, CD Balancing), which are sold through sales. It does publish prices for Snapdocs RON: $20 per user per month for a single notary, with remote online notarizations at $25 per mortgage transaction and $15 per non-mortgage transaction; $50 per team per month for unlimited users; and custom pricing for enterprises.
Which banks use Snapdocs?
Among the 100 largest US banks we track, Zions uses Snapdocs for hybrid digital closings and was an early adopter of its AI Funding QC; Trustmark closes loans through a Snapdocs integration with Finastra's Mortgagebot; and FirstBank (FB Financial) moved all loans to Snapdocs eClosing after selecting it in 2022. BNY announced a collateral-delivery and eCustody initiative with Snapdocs in May 2026.
Who owns Snapdocs?
Snapdocs is private and venture-backed. Its $150 million Series D in May 2021 was led by Tiger Global Management with Y Combinator, Sequoia, F-Prime Capital, Maverick Ventures, Alkeon and Wellington, valued the company at over $1.5 billion and brought total funding to $260 million. Founder Aaron King is executive chairman; Michael Sachdev has been CEO since September 2023.
What does Snapdocs' AI do?
Snapdocs uses proprietary AI in its Funding and Post-Close Quality Control products to confirm that each closing document is present, signed, dated and notary-stamped, so staff review only flagged exceptions; it also uses AI in CD Balancing and trailing-document tracking, and in the planned BNY initiative to classify collateral documents and extract data.
Is Snapdocs a bank or a lender?
No. Snapdocs is a software and network provider for mortgage closings; it does not lend money. Lenders and title companies use it to coordinate closings, and banks remain responsible for their closing compliance and for managing Snapdocs as a third-party service provider.
Snapdocs vs Blend: what is the difference?
Blend runs the borrower-facing application and origination workflow and also sells closing products, charging per completed transaction. Snapdocs focuses on the closing itself: eSign, hybrid and remote notarization closings, eNote vaulting, the notary and settlement network, and AI checks of closing and funding documents. Some lenders use one vendor for origination and another for closing.
- About Us — Snapdocs (undated page, retrieved 2026-09-24)
- Snapdocs RON - Pricing (undated page, retrieved 2026-09-24)
- Notary Connect Starter — Snapdocs (undated page, retrieved 2026-09-24)
- Case Study: FirstBank Partners with Snapdocs to Reach 100% eClose Adoption (undated page, retrieved 2026-09-24)
- Snapdocs raises $60 million to scale up its digital closing business
- Digital mortgage company Snapdocs mints unicorn status in round led by Tiger Global
- Snapdocs Builds Integration with Finastra to Enable a Seamless Closing Process for Trustmark
- Snapdocs Promotes Michael Sachdev to CEO; Aaron King Becomes Executive Chairman
- Zions Bancorporation Achieves 75% Hybrid Digital Closing Adoption After Just One Month with Snapdocs
- Snapdocs Expands Digital Closing Platform & Unveils New Brand Identity
- Snapdocs Introduces AI-Powered Quality Control to Improve Efficiency and Accuracy in Mortgage Closings
- Snapdocs Welcomes Jamie Mottern as VP of Lender Growth to Advance Digital Adoption Across the Mortgage Ecosystem
- Snapdocs and BNY to Launch Automated Collateral Delivery and eCustody Solution
- Snapdocs and BNY To Launch Automated Collateral Delivery and eCustody Solution
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