Freddie Mac is now offering an automated eNote certification solution for third-party eNote custodians that is designed to offer a system-to-system integration from Freddie Mac’s Loan Selling Advisor.
According to the government-sponsored enterprise (GSE), this solution will allow third-party eNote custodians to digitally compare lender-delivered loan data with information included in the borrower’s signed eNote and then pass along the results of the certification to the lender. Freddie Mac will remain as an eNote custodian option for its sellers and servicers and will notify them in advance of any changes to the custodian options.
“The ability to integrate with third-party eNote custodians for automated eNote certification is a digital needle mover for Freddie Mac eMortgage Sellers and Servicers,” said Samuel E. Oliver III, vice president of single-family major projects at Freddie Mac. “In addition to minimizing the need for the current bifurcated custody model for eMortgage Seller/Servicers, this integration lays the foundation for potential solutions to minimize some of the technology setup costs required in the eNote process.”