has signed Baltimore-headquartered eOriginal Inc. to be its provider for eVault software and services.
According to the agency, eOriginal will work with Ginnie Mae to implement its digital collateral pilot program, with goal of enabling the use of electronic notes as acceptable collateral for Ginnie Mae MBS.
“Creating a digital mortgage ecosystem, from loan application through securitization, increases access to credit for many Americans,” said Angel Hernandez, Director of MBS Policy and Program Development. It will also enhance the integrity of Ginnie Mae collateral by reducing the risk from defects in loan instruments. For these reasons, Ginnie Mae is investing to develop and implement the policies, technology and operational capabilities necessary to take in digital promissory notes and other digitized loan files as acceptable collateral for our securities.”