Fannie Mae and Freddie Mac eMortgage/eNotes
We are excited to announce that Cenlar is approved and ready to service your Fannie Mae and Freddie Mac eMortgage/eNote loans.
The main difference between eNote servicing and paper mortgage servicing is the MERS eRegistry, which requires updates to be done by the Client in that system for life of loan events. The eNote will be stored and maintained by you in an investor-approved electronic storage system or eVault.
Here are some important points:
- Clients will now be responsible to perform all MERS eRegistry updates and have an eRegistry vault.
- Cenlar is prepared and will supply all necessary reporting to you to update the MERS Registry and eVault.
- Clients must be approved by the investor before they can process that investor’s eMortgages.
- Clients will be required to request investor approval for Cenlar to service eMortgages on your behalf.
- Cenlar is currently exploring eVault solutions.
If you are interested in Cenlar servicing eNote/eMortgage loans on your behalf and are looking to obtain more information, please contact your Relationship Manager or me. And remember to visit www.cenaccess.com for more Cenlar news and advisories.