HousingWireHousingWire
In its 2025 State of eClose Adoption Report released on Tuesday, Snapdocs revealed that 90% of mortgage lending institutions now offer digital closings to customers.
This year’s figure marked a 22% increase from the prior year. But despite the increase, only 14% of lenders with eClosing technology close more than 80% of their loans digitally — meaning that many lenders have yet to fully realize its benefits.
Snapdocs said that the rise in digital closings is due to the measurable efficiencies and improved experience that digitization delivers. Among lenders that have invested in digital closings, 83% cite improved borrower satisfaction; 82% report greater staff efficiency and faster closings; and 79% see fewer errors on closing documents.
But lenders also reported several barriers that are preventing adoption. These include high technology costs (50%), lack of stakeholder usage (42%) and technology issues (41%).
“Just offering eClosing is no longer the differentiator — it’s driving meaningful adoption that sets lenders apart,” Snapdocs CEO Michael Sachdev said in a statement.
“Slow adoption is preventing many lenders from fully unlocking the speed, efficiency, and improved borrower experience from digital closings. In contrast, the majority of Snapdocs lenders achieve over 80% adoption — more than 3.5x the industry average.”
To encourage adoption, 80% of the lender participants in the report defined their eClosing goals for this year. They mentioned plans to expand hybrid closings across more of their loan portfolio (49%); maximization of eNote and Remote Online Notarization adoptions (41%); and implementations of a new eClosing provider (44%).
The report was derived from blind data collection conducted in February and March 2025. Respondents were managers or executives involved in loan closing, prequalification, origination or processing tasks at a bank, credit union or nonbank lender.
