Planet Home Lending reports that it is boosting speed and efficiency for its correspondent sellers through its acceptance of e-notes.
Planet accepts electronic promissory notes (e-notes) for Fannie Mae, Freddie Mac and Ginnie Mae loans, thus aiding correspondent sellers looking to quickly capitalize on the latest rate decreases through refinances.
With e-notes, approved lenders gain a faster, more efficient way to deliver loans — while improving execution, eliminating signature errors and enhancing borrower satisfaction, the company says in a release.
“Giving lenders even the slightest edge in this market — like the ability to close loans faster — benefits the entire industry, and e-notes do exactly that,” says Jason Mac Gloan, senior vice president of correspondent sales at Planet Home Lending. “Planet’s e-note acceptance reflects our ongoing commitment to providing correspondent lenders with competitive pricing, streamlined delivery, and the operational flexibility they need in any market climate.”
The digital equivalent of paper promissory notes, e-notes are a key component of a fully digital mortgage transaction. They enable seamless delivery through the MERS eRegistry and offer faster turn times, fewer errors and enhanced security.
“Accepting e-notes is another way we’re simplifying delivery and increasing efficiency for our correspondent partners,” says John Bosley, president of mortgage lending at Planet Home Lending. “We’re continually investing in tools and technology that help sellers scale their digital mortgage capabilities.”