Enabling Mortgage Originators to Accelerate Digital Mortgage Adoption
April 4, 2018 – MERSCORP Holdings, Inc. (MERSCORP Holdings) and eOriginal, Inc. today launched a new solution offering that will enable originators to accelerate entry into the digital mortgage ecosystem. MERS® eNote Solutions, part of the MERS® eSuite, will enable the creation, execution, registration and management of the electronic promissory note, or eNote, to mortgage originators across the industry.
“MERSCORP Holdings is proud to provide technology-based solutions that add value to our members’ bottom line,” said Brendon Weiss, MERSCORP Holdings Chief Operating Officer. “Our members identified several gaps that need to be addressed to increase eNote adoption, and this new solution fills a significant need for originators seeking to leverage existing vendor relationships.”
MERSCORP Holdings is the owner and operator of the MERS® eRegistry, the national mortgage registry and legal system of record for identifying the controller (holder) and location (custodian) of the authoritative copy of registered eNotes. Interest in the production of eNotes continues to grow as consumers and lenders recognize the value of moving toward a more streamlined, electronic process. With more than 5,000-member organizations, MERSCORP Holdings is central to the growth of digital mortgages, and the new service provides a turn-key solution to those members who are driving toward a paperless process.
“This solution will enable thousands of originators to realize the benefits of a digitally executed promissory note at the closing table. The eNote is the most important document of a digital closing because it is critical for the funding of electronic mortgages by investors,” said eOriginal Senior Vice President and General Manager of Digital Mortgage, Simon Moir. “MERSCORP Holdings, as the operator of the MERS® eRegistry, has been instrumental to the advancement of digital mortgage. We are proud to have eOriginal’s technology power the MERS® eNote Solutions.”
An industry pioneer and recently named to HousingWire’s 2018 HW TECH100™, eOriginal delivers a fully digital mortgage and supports every type of digital closing strategy. By creating a ‘digital original’, eOriginal guarantees trusted transactions of digital financial assets. Major financial institutions, leading law firms and credit ratings agencies have validated and rely on eOriginal as a trusted partner with the greatest depth of digital transaction management expertise to navigate and advise on industry best practices.
MERSCORP Holdings has been a trusted service provider to the mortgage industry for 21 years. To learn more about MERS® eNote Solutions, visit mersinc.org/enotes.
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About MERSCORP Holdings, Inc.
MERSCORP Holdings, Inc. is a privately held corporation that owns and manages the MERS® System, MERS® eRegistry and all other MERS® products and services. Users of the MERS® System include thousands of lenders, servicers, sub-servicers, investors and government institutions. Mortgage Electronic Registration Systems, Inc. (MERS) serves as the mortgagee in the land records for loans registered on the MERS® System, and is a nominee (or agent) for the owner of the promissory note. The MERS®System is a national electronic database that tracks changes in mortgage servicing and beneficial ownership interests in residential mortgage loans on behalf of its members. The MERS® eRegistry is the national mortgage registry and legal system of record for identifying the controller (holder) and location (custodian) for the authoritative copy of registered eNotes. Learn more about MERS® eNote Solutions at www.mersinc.org.
eOriginal guarantees trusted transactions of digital financial assets for all parties from the borrower to the secondary market. We do this by creating a ‘digital original’ document with all the legal and enforcement rights of a paper contract combined with the capital and operational efficiency of digitization. Our proven network provides certainty in how these digital assets are created and maintained, delivering the confidence, visibility and compliance lenders and buyers need. As a pioneer in the space, major financial institutions, leading law firms and credit ratings agencies have validated and rely on eOriginal as a trusted partner for Digital Transaction Management. For more information, visit www.eoriginal.com.