On Wednesday, MERSCORP and eOriginal announced the launch of a new solution both companies say will enable originators to accelerate digital mortgage adoption.
The new offering, called MERS eNote Solutions, is part of the company’s eSuite. The solution will enable the creation, execution, registration and management of the electronic promissory note, or eNote, to mortgage originators across the industry, the companies explained in a press release.
“MERSCORP Holdings is proud to provide technology-based solutions that add value to our members’ bottom line,” said Brendon Weiss, MERSCORP 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 owns and operates the MERS eRegistry, a national mortgage registry and legal system of record for identifying the controller, or holder, and location, or custodian, of the authoritative copy of registered eNotes. The company said in a press release that “interest in the production of eNotes continues to grow as consumers and lenders recognize the value of moving toward a more streamlined, electronic process.”
eOriginal, a recent winner of HousingWire’s 2018 Tech100, guarantees trusted transactions of digital financial assets for all parties from the borrower to the secondary market, delivers a fully digital mortgage and supports all types of digital closing strategy.
“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.”