SouthState Bank has successfully implemented Blend's Close solution, significantly enhancing its mortgage operations. This new technology has reduced closing times for some virtual closings to as little as 20 minutes, a notable improvement from over an hour for traditional wet-sign closings. The solution also supports various eClose scenarios, including hybrid and full Remote Online Notarization (RON) closings.
The adoption of Blend's Close has also boosted operational efficiency by cutting loan processing times. Loans can now be sent to Fannie Mae and Freddie Mac in just 24 to 48 hours, a substantial reduction from the previous five to seven business days. This streamlining leads to cost reductions across the board and frees up loan officers to focus more on client relationships.
The faster and more flexible closing experience improves borrower satisfaction, particularly benefiting customers such as military personnel deployed overseas or individuals unable to attend in-person closings. This strategic technology investment strengthens SouthState's competitive edge in the mortgage market by offering superior customer convenience and operational speed.
Shane Horan, SouthState's Director of Mortgage Strategic Initiatives, highlighted the robustness of the Blend Close solution. He noted that Blend offers all types of eClose scenarios, from hybrid without an e-note to full RON closing with a Blend notary. This comprehensive capability was a clear benefit for the bank's operations.
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