Fannie, Freddie certify SimpleNexus as an eClosing solutions provider

Servicers can now use the platform to submit eMortgages to both GSEs

Fannie, Freddie certify SimpleNexus as an eClosing solutions provider

Digital mortgage platform SimpleNexus has announced that it has been certified as an eClosing solution provider by government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

In a statement, SimpleNexus said that the designation affirms that its Nexus Closing eMortgage platform “meets both GSEs’ technical requirements for eClosing, eNote, and eVault functionality and has been tested for compatibility with the GSEs’ respective eNote delivery systems.”

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The Nexus Closing solution provides borrowers with end-to-end, single-sign-on homebuying capabilities that the firm says increases repeat and referral business.

“Now, approved Fannie Mae and Freddie Mac seller/servicers desiring to deliver eMortgages to Fannie Mae and Freddie Mac can use Nexus Closing to create and submit eMortgages to both GSEs,” the firm said in its statement. “Lenders that work with a pre-tested eMortgage vendor like SimpleNexus can expedite the GSE approval process to deliver eMortgages.”

“Nexus Closing gives lenders the flexibility to make the closing experience as digital as they want,” said Cathleen Schreiner Gates, chief executive officer of SimpleNexus. “In addition to giving borrowers more time to review and understand closing documents, Nexus Closing offers lenders substantial ROI with improved operational efficiency, increased data integrity and faster delivery of loans to the secondary market.”