When a closing is finished in Snapdocs, you can mark a file as closed in your dashboard. This is a different state than a settlement agent marking a file complete after a signing appointment. You will notice four closing statuses on your dashboard: open, signed, ready to close, canceled, and closed.
- Open: Documents are waiting to be signed
- Signed, ready to close: The settlement agent has marked the signing appointment as complete
- Canceled: The closing has been canceled
- Closed: The file has been closed out
How does it work?
When settlement marks the wet signing appointment complete for a wet closing, they see it placed in a signed, close pending state indicating that the lender can check the file and mark it as closed. If the closing is a hybrid, the settlement agent will see it placed in a signed, close pending state when they mark wet signing as complete, indicating that the lender can check the file and mark it as closed once the eSign package is also complete.
When settlement has completed their tasks on a closing, lenders see signed, ready to close which indicates that they can mark a file as closed, as long as applicable eSign packages are also complete. This will make the closing immutable (no one will be able to edit the closing, or upload documents to the closing) and will remove it from your default dashboard view of open closings. To do so, click Signed, ready to close and then select Closed on the dropdown. Only a lender team member can mark a file as closed. You can still view and download files from a file after it’s been marked closed. You can revert a closed file back to open. Note: If a file has been marked canceled, you cannot undo this status. If you accidentally mark a closing as canceled, please reach out to support for assistance.
Tip: For more information, you can watch this short video.
When Should You Mark a Closing as Closed?
You can mark a closing as closed at any stage of a closing, whether or not settlement has marked the signing appointment complete. Most lenders will wait until all signed documents have been reviewed and loans are funded before marking the file closed.