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Collaboration digitizes mortgage collateral transfer, enables touchless delivery, and brings document intelligence to secondary market execution
Snapdocs, the leading digital closing platform for the U.S. mortgage industry, today announced an initiative with BNY (NYSE: BK), a global financial services platforms company, to deliver automated, end-to-end digital mortgage collateral infrastructure.
The joint initiative addresses one of the mortgage industry's most persistent operational gaps: collateral delivery that still relies on numerous manual handoffs between settlement, lenders, warehouse banks, and custodians, causing multi-day delays that can slow secondary market execution and erode per-loan profitability.
The solution will combine BNY's industry leading custody capabilities and investment in next-generation infrastructure with Snapdocs' platform, including its eVault technology, and document classification and data extraction capabilities. The solution will deliver the first connected digital infrastructure for secure, touchless, and auditable collateral delivery across the secondary mortgage market.
"At BNY, we are relentlessly focused on serving clients across the mortgage ecosystem from originators, servicers and warehouse lenders to issuers and investors. 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. Our work with Snapdocs to advance eCustody capabilities modernizes mortgage collateral delivery and review – which will help reduce friction, accelerate execution, and strengthen confidence in asset quality," said Johnny Wijaya, Head of Structured Finance & Document Custody Solutions at BNY .
How The Solution Will Work
The initiative will equip BNY's clients with four core capabilities:
Purpose-built eVault & eCustody infrastructure — manages both digitally-native and imaged documents with full auditability, helping to enable secure storage and management of eNotes and other mortgage collateral.
Touchless collateral delivery — enables automatic digital transfer of collateral from lenders to BNY directly from closing, reducing the costs, delays and risks from fragmented, manual handoffs.
Document intelligence — classifies collateral documents and extracts data to automate QC and certification, surface portfolio insights, and supports real-time risk surveillance.
Designed to extend beyond mortgage collateral — The eVault infrastructure supports mortgage collateral today and is built with scalability in mind, with planned expansion into non-mortgage collateral, positioning BNY to broaden eCustody capabilities across additional asset classes.
"Managing collateral is one of the most expensive and risk-prone processes in mortgage, and until now, one of the least digitized," said Camelia Martin, VP, Digital Collateral Strategy & Partnerships at Snapdocs. "The combination of Snapdocs' eCustody solution and document intelligence with BNY's leading-edge capabilities in custody, will create the digital infrastructure the mortgage industry has long needed. Now lenders and secondary market participants will be able to move assets faster, with complete data visibility, and without the operational drag that has plagued collateral delivery to the secondary market for decades."
What This Means For The Mortgage Ecosystem
For BNY's mortgage lender clients, the opportunity is immediate. eNotes and the vast majority of collateral can be delivered to investors digitally, either as eSigned documents or imaged wet-ink signed documents, meaning most collateral can now automatically move directly from point of execution to custodian, with integrity verified and chain of custody maintained at every step.
This also helps eliminate the manual scanning, reconciliations, and validations that physical delivery requires. In their place: digitized collateral delivery with automated validations, an immutable audit trail, and real-time visibility into delivery and receipt status — reducing cycle time, cutting per-loan operational costs, and improving profitability through faster secondary market execution.
Warehouse banks and investors can meet growing lender demand for digital collateral acceptance through BNY's turnkey eCustody solution — gaining real-time visibility into collateral data and a faster, more competitive loan acquisition process.
About Snapdocs
Snapdocs is the leading digital closing provider, connecting the people, processes, and technologies that power mortgage closings. Its AI-driven platform automates interactions among lenders, title companies, and investors from pre-closing through post-close. Paired with white-glove customer service and connectivity to the industry's largest settlement and notary networks, Snapdocs makes closings fast, accurate, and efficient. For more information, visit www.snapdocs.com .
About BNY
BNY is a global financial services platforms company at the heart of the world's capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals. As of March 31, 2026, BNY oversees $59.4 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com . Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260514744846/en/
Media Contacts
For Snapdocs
Laura Mighdoll
press@snapdocs.com
For BNY
Jessica Thomas
jessica.thomas@bny.com
