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This solution opens the door to implementing eNotes for all lenders – particularly small to mid-dimension originators. Enhanced security, improved knowledge quality, strong audit trail capabilities, and increased borrower satisfaction are just some of the benefits MERS® eNote Options will present.
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In keeping with the Mortgage Bankers Affiliation, mortgage manufacturing prices reached an alltime high of $eight,957 in the first quarter of 2018, an increase of practically $500 from the earlier quarter. Utilizing Digital Close Enterprise, lenders can execute and submit eNotes to the MERS® eRegistry, leading to important value savings by eliminating paper, printing costs and time, and the expense of delivery enotes paper paperwork backwards and forwards to borrowers and title corporations. Digital Close Enterprise also supports the power for the lender to electronically perform a postclose audit of the file and eDeliver the loan bundle and collateral to the investor, in the end saving fraud and danger mitigation prices as nicely.
Curiosity in the production of digital promissory notes, or eNotes, continues to develop as consumers and lenders acknowledge the worth of transferring towards a extra streamlined, digital course of. By means of the automated integration into eOriginal’s eNote expertise, LendingQB is offering enotes originators of all sizes with accelerated entry into the digital mortgage ecosystem, while gaining course of efficiencies and improving high quality control by eliminating guide entries and reviews by means of LendingQB’s loan origination system.
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