eOriginal to provide Fannie Mae eVault technology


Digital transaction management company eOriginal has been selected to provide the technology for Fannie Mae’s next generation electronic vault. The announcement was made at LendIt in New York City.

“Fannie Mae is committed to enhancing the digital mortgage revolution and removing obstacles to eMortgage adoption through a modern, secure, and scalable platform,” eOriginal said in a statement. “eOriginal’s hosted platform enables the secure management of electronically signed assets (eNotes) throughout their post-execution lifestyle.”

Fannie Mae vice president of customer digital experience Cindy McKissock recognizes technology’s ability to deliver a superior customer experience.

“We continually look for ways to help lenders who want to deliver an end-to-end digital mortgage experience. In addition to investing in new eVault infrastructure, we are also simplifying eMortgage adoption by transitioning to the MISMO SMART Doc™ Version 3.0 format in 2017. This will reduce complexity and allow lenders and technology solution providers to adopt eMortgage with greater ease.”

The challenging combination of customer expectations and regulatory requirements make it imperative institutions seek out an experienced provider, eOriginal general manager of digital mortgage Simon Moir said.

“With increasing pressure from borrowers for a better mortgage experience, and ever-increasing scrutiny on compliance by regulators, it is time for lenders who are still bound to paper to take the steps to embrace the digital mortgage process. Fannie Mae’s commitment to electronic mortgage is further evidence that the industry is ready for a digital transformation that can improve the borrower experience and deliver operational and capital efficiencies to the lender.”