Texas Capital Bank to warehouse and purchase eMortgages

Fully digital mortgages remove all paperwork from the process

Texas Capital Bank to warehouse and purchase eMortgages

Texas Capital Bank has launched its eMortgages program, through which it will warehouse and purchase fully digital mortgages, its parent company Texas Capital Bancshares has announced.

With the launch, Texas Capital Bank becomes the first bank in the US to fully support eMortgages, the company said. The program aims to solve the liquidity issue for lenders and bridge the financial gap required to help eMortgages take off.

"The team is proud to be at the forefront of the evolution of the mortgage industry," said Vince Ackerson, chief lending officer and president, Texas at Texas Capital Bank. "We recognize that the future is digital, so we strive to pave the way for our client's success by adopting new technologies early in their lifecycle. We are excited to be a part of this change."

Through eMortgages, Texas Capital Bank offers borrowers a quick and convenient way to secure a mortgage by removing all paperwork from the process. The mortgages are evidenced by a promissory note that exists in electronic format, also known as an eNote.

"In the long term, eMortgages hold the promise to help lenders gain operational efficiencies, realize cost savings, and experience increased borrower satisfaction," said Jack Nunnery, president of mortgage finance. "Having a knowledgeable counterparty that can help remove some of the uncertainty can be essential to a mortgage lender's success as they embark on their own digital transformation."

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