MERSCORP Holdings and eOriginal have launched MERS eNote Solutions, a new offering that allows originators to accelerate entry into the digital mortgage ecosystem.
Part of the MERS eSuite, eNote Solutions enables the creation, execution, registration, and management of the electronic promissory note, or eNote, to mortgage originators across the industry.
MERSCORP owns and operates the MERS eRegistry, the national mortgage registry and legal system of record for identifying the holder and custodian of the authoritative copy of registered eNotes. MERSCORP said the new service targets its members who are driving toward a paperless process.
“MERSCORP Holdings is proud to provide technology-based solutions that add value to our members’ bottom line,” MERSCORP COO Brendon Weiss. “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.”
“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 Simon Moir, eOriginal senior vice president and general manager of digital mortgage.