MRG Document Technologies (MRG), a provider of mortgage document preparation software and compliance technology to banks, credit unions and other lenders nationwide, has successfully completed full lifecycle eNote certification through Xerox Mortgage Services' BlitzDocs eVault. A sample eNote in the form of a MRG Category 1 classified SMARTDoc was successfully delivered to Xerox’s BlitzDocs eVault, a virtual repository that connects directly to the MERS eRegistry and eDelivery systems, where it was electronically signed and registered. The eNote also went through a series of mortgage lifecycle events, including sale and delivery to end investors, initiation of servicing transfers and pay off events, all without errors. Category 1 requires the most complete data validation of the five SMARTDoc classifications.
“As a document preparation provider, it is imperative for MRG to provide the most advanced document capabilities in the marketplace. eMortgage is going to become the industry standard and we are here to support our customers in the transition to paperless mortgages with a tested, proven eNote,” said Kathleen Mantych, senior marketing director with MRG.
By working with Xerox on its eNote initiative, MRG is able to provide customers with the efficiency of paperless mortgages backed by the security of Xerox’s electronic vaulting services. The Xerox eVault currently manages approximately 20 percent of all the eNotes registered to-date, making it one of the largest eVault providers in the industry.
“Xerox is driving the transition to eMortgages by offering the necessary services to make the move cost-effective and seamless for our customers,” said Nancy Alley, vice president of product management for Xerox Mortgage Services.
