RoundPoint Mortgage Servicing Corporation (“RoundPoint”), one of the nation’s top 10 non-bank mortgage servicing companies, has been approved by Fannie Mae and Freddie Mac to service and purchase electronic promissory notes, or eNotes. 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 eNotes,” said Craig Freel, Senior Vice President, Portfolio Management for RoundPoint Mortgage Servicing Corporation. “We’re proud of the partnership with eOriginal as it demonstrates RoundPoint’s commitment to eNotes. We recognize they are the way of the future and we intend to play a key role in the digital age. 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 eNotes 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 eNotes by implementing a digital mortgage solution approved to use the MERS® eRegistry. 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 eNotes.
RoundPoint selected eOriginal’s solution to connect with the most trusted and established digital ecosystem for the mortgage industry. The solution has been pivotal to the scalability and adoption of technology for companies such as Fannie Mae, and MERSCORP Holdings, Inc. eOriginal is on both the Fannie Mae and Freddie Mac technology solution provider lists and offers solutions for mortgage servicers that assists in the management of life-of-loan events in a digital environment.
“This integration is part of the growing momentum to digitally connect the mortgage industry,” said Bill Mitchell, Director of Business Development at eOriginal, Inc. “As a leading servicer and lender, RoundPoint has positioned itself as an innovator and will play a critical role in the commitment to drive greater liquidity in the ecosystem through a true end-to-end solution that is proven, reliable and readily deployed.”
“The eOriginal solution is one of the most user-friendly options out there. The fact that it directly integrates with MERS eRegistry and the GSEs was also extremely important to us. They were a pioneering vendor in this space, so they have a tremendous amount of experience which made them an ideal choice for RoundPoint,” said Freel.