2019 HW Vanguard: Aaron King – HousingWire
Snapdocs Founder and CEO
Aaron King, a 20-year veteran of the mortgage industry, has led Snapdocs since he founded the company in 2013. Earlier in his career, King used his knowledge as a notary signing agent to launch a nationwide notary signing service.
Eventually, that experience led King to found Snapdocs, which launched with a mobile notary scheduling product that automated the search and coordination of a mobile notary for settlement companies.
In the convening years, King and Snapdocs have worked to ease the mortgage closing process, incorporating more lenders, settlement companies, and even borrowers into the process.
Then, in 2018, Snapdocs expanded its offerings with the launch of a digital closing product for lenders. By utilizing Snapdocs offering, the company’s clients are able to do thousands of hybrid closings.
According to the company, lenders who use Snapdocs typically see more than 80% of their hybrid closings successfully eSigned. The lenders are also able to shorten the closing process by two days and reduce the closing appointment to just 15 minutes.
Snapdocs has seen tremendous growth in the last year. Over 5% of all U.S. real estate transactions currently take place via Snapdocs’ digital closing platform.
Snapdocs’ revenue has also increased by 90%.
Beyond that, the company’s workforce has nearly doubled in size within the last year, growing to more than 90 people. Snapdocs also expanded outside of the San Francisco Bay Area for the first time, opening a new office in Denver, Colorado in September 2019.
What’s the best advice you’ve ever received?
“There’s tremendous power in being a great listener. Most people are decent at listening, but hyper-effective leaders continuously hone this skill. They become adept at quickly getting to the core of the thoughts, beliefs, and observations of those around them.”
The Federal Housing Finance Agency introduced new upfront fees for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac.
Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, CoreLogic reports.
Don’t have an account? Please Sign Up