48
WOLTERS KLUWER
LAUNCHES
OMNIVAULT FOR
REAL ESTATE
FINANCE
Wolters Kluwer Compliance Solutions
has launched its OmniVault for Real Estate
Finance solution. OmniVault for Real
Estate Finance uses the company's eVault
technology to support digital home equity
lending, both HELOCs and home equity
loans, in addition to already supported
conventional, U.S. government, and jumbo
first mortgages.
Wolters Kluwer's technology enables
banks and credit unions to originate digital
HELOCs as a Digital Original, rather
than just a PDF or a paper document.
When a HELOC is created within the
OmniVault for Real Estate Finance offering,
it establishes the Digital Original of the
HELOC, ensuring verifiable ownership and
control, and enabling the sale, transferability,
pledging, syndication, and securitization of
these digital assets. e offering includes
a digitally sealed audit trail providing an
irrefutable chain of custody and evidence for
the digital assets.
Digital HELOCs can be stored,
managed, and easily transferred in and
out of an eVault on a single platform. e
OmniVault Real Estate Finance solution
provides clients with the same user
experience and visibility across all asset
classes.
"Banks, credit unions and, to some
extent, mortgage banks are focusing on home
equity lending, with mortgage refinances
down and homeowners having high home
equity gains over recent years," said Steven
Meirink, EVP and General Manager of
Wolters Kluwer Compliance Solutions.
"Being able to offer digital HELOCs will
help lenders differentiate their customer
experience, while our OmniVault will give
institutions simple, consistent ways to
originate and manage digital real estate
assets across their organizations. Many
of the largest financial institutions are
already Wolters Kluwer eOriginal clients,
so leveraging OmniVault by adding digital
HELOCs can easily be done under their
current MSAs."
Industry Updates
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