RoundPoint Mortgage Servicing Corp. reports that it has been approved by Fannie Mae and Freddie Mac to service and purchase electronic promissory notes, or e-notes.
The arrangement allows RoundPoint to service new loan types and makes it a “one-stop shop” for counterparts looking to sell mortgage servicing rights (MSRs).
“We are one of only a handful of servicers approved by the GSEs to service e-notes,” says Craig Freel, senior vice president, portfolio management for RoundPoint, in a release. “We’re proud of the partnership with eOriginal as it demonstrates RoundPoint’s commitment to e-notes.
“We recognize they are the way of the future and we intend to play a key role in the digital age,” Freel adds. “The partnership is also a tangible example of our continued investment in new trends and technology.”
Driven by acceptance by the government-sponsored enterprises (GSEs), interest in the production of e-notes continues to grow as consumers and lenders recognize the value of moving toward a more streamlined, digital process that eliminates errors and captures operational efficiencies.
Documents produced, signed and tracked digitally save all parties time and money.
Recognizing this, RoundPoint set out to be approved for servicing e-notes by implementing a digital mortgage solution approved to use the MERS e-registry. The solution went through detailed testing with Fannie Mae and Freddie Mac along with a comprehensive review of all policies and procedures surrounding the management of e-notes.