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Mortgage Servicing in the Digital Age
Fannie Mae and Freddie Mac have approved RoundPoint
Mortgage Servicing Corporation to service and purchase electronic
promissory notes, or eNotes. e agreement allows RoundPoint to
service new loan types, and makes it a "one-stop shop" for counterparts
looking to sell mortgage servicing rights, the release states.
"We are one of only a handful of servicers approved by
the GSEs to service eNotes," said Craig Freel, SVP, Portfolio
Management for RoundPoint Mortgage Servicing Corporation.
"We're proud of the partnership with eOriginal as it demonstrates
RoundPoint's commitment to eNotes. We recognize they are the
way of the future, and we intend to play a key role in the digital
age. e partnership is also a tangible example of our continued
investment in new trends and technology."
Interest in the production of eNotes, driven by the GSEs,
continues to grow as consumers and lenders recognize the value
of the digital process, which is more streamlined, helps eliminate
errors, and captures operational efficiencies.
RoundPoint sought approval for servicing eNotes by
implementing a digital mortgage solution approved to use the
MERS eRegistry. e solution was tested by Fannie Mae and
Freddie Mac, along with a review of all policies and procedures
surrounding the management of eNotes.
RoundPoint selected eOriginal's solution to connect with
the established digital ecosystem for the mortgage industry. e
release states eOriginal is on both Fannie Mae and Freddie Mac's
technology solution provider lists and offers solutions for mortgage
servicers that assists in the management of life-of-loan events in a
digital environment.
"e eOriginal solution is one of the most user-friendly options
out there," Freel said. "e fact that it directly integrates with
MERS eRegistry and the GSEs was also extremely important
to us. ey were a pioneering vendor in this space, so they have
a tremendous amount of experience which made them an ideal
choice for RoundPoint."
