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SimpleNexus, a homeownership platform developer for loan officers, borrowers, real estate agents and settlement agents, is now a Fannie Mae- and Freddie Mac-reviewed eClosing solution provider. This means SimpleNexus' Nexus Closing eMortgage solution meets both GSEs' technical requirements for eClosing, eNote and eVault functionality and has been tested for compatibility with the GSEs' respective eNote delivery systems.
SimpleNexus supports eMortgages because eMortgages are faster, have better data quality, and are cheaper to execute compared to traditional mortgages. Now Fannie Mae and Freddie Mac Seller/Servicers can use Nexus closing to create and submit eMortgages to both GSEs.
Lenders have plenty to benefit from working with a pre-tested eMortgage vendor like SimpleNexus, including an expedited GSE approval process to deliver eMortgages. The eMortgage solution offers integrated remote online notarization (RON) and eSigning, automatic generation of a tamper-sealed eNote document, and delivery of the eNote into a secure eVault for delivery to the MERS eRegistry.
“Nexus Closing gives lenders the flexibility to make the closing experience as digital as they want,” said SimpleNexus CEO Cathleen Schreiner Gates. “In addition to giving borrowers more time to review and understand closing documents, Nexus Closing offers lenders substantial ROI with improved operational efficiency, increased data integrity and faster delivery of loans to the secondary market.”
To view Fannie Mae's complete eClosing Technology Service Provider List, visit: https://singlefamily.fanniemae.com/applications-technology/eclosings-emortgages.