eOriginal Inc. and LendingQB have completed an integration that supports the generation, execution and management of eNotes. In October, eOriginal began an eNotes program with Wells Fargo Home Lending and joined with MERSCorp Holdings to offer MERS eNote Solutions.
“LendingQB’s work with eOriginal is another milestone in the creation of an open ecosystem for technology and service providers working together to benefit originators,” said Simon Moir, senior vice president and general manager of digital mortgage of eOriginal. “This integration continues eOriginal’s commitment to innovative solutions for the industry that focus on capital efficiency and market execution, while minimizing impact to our client’s business and technology operations.”
Interest in the production of electronic promissory notes, or e-notes, continues to grow as consumers and lenders recognize the value of moving toward a more streamlined, digital process. Through the automated integration into eOriginal’s eNote technology, LendingQB is providing originators of all sizes with accelerated entry into the digital mortgage ecosystem, while gaining process efficiencies and improving quality control by eliminating manual entries and reviews through LendingQB’s loan origination system.
“With growing adoption and demand for more transparency, digital mortgage is delivering a competitive advantage and operational efficiencies that cannot be obtained through paper processes. eOriginal’s technology is designed to provide clients with an enhanced experience, bringing greater scale, efficiency, and accuracy,” said David Colwell, vice president of LendingQB Strategy. “The solution delivers a fully digital mortgage that meets regulatory requirements and is accepted by top lenders, the government-sponsored enterprises, and other stakeholders across the mortgage ecosystem.”
In the wake of Fannie Mae and Freddie Mac’s increasing acceptance of e-notes, this partnership is the latest in the expansion of the digital mortgage ecosystem. LendingQB will begin offering this integration to a select group of lenders in 2018, which will be followed by a broader offering in 2019.
