Wolters Kluwer Expert Shares eVaulting Technology Insights

Key Considerations Including Assessing Business Needs And Digital Readiness

Mortgage Banker Magazine
Mortgage Banker Magazine
Bank vault door

Wilzbach wrote that a common misperception of eVaults is that they are just for the storage of eNotes and other documents, including paper documents that have been wet-signed and uploaded into the eVault as part of a hybrid transaction. “But they also must be compliant, provide a comprehensive audit trail to track various activities and actions, be seamlessly integrated with the Mortgage Electronic Registry System (MERS) eRegistry, and have the scale and connectivity to enable capital market transactions.”

“The true purpose of an eVault … is to reliably establish the person or entity to whom the single, transferable record of the digital loan is assigned, issued or transferred,” Wilzbach wrote. “It provides an immutable, tamper-proof eNote that financial institutions can rely on when they pledge, sell and securitize eNotes.”

This capability, he said, is crucial today for capital market transactions. Fannie Mae and Freddie Mac both use eVaults and encourage eNote sales. Having an eVault is a requirement for delivering eNotes to these entities— and an opportunity to increase capital market efficiencies.

“Various types of lenders may experience different advantages to using eVaults. A portfolio lender, for example, might want to add an eVault to offer eClosings and eNotes that enhance their borrower experience and help them compete more effectively against national retail lenders,” Wilzbach explains.

“As a critically important component in digital mortgage lending, it’s not a matter of if lenders adopt eVault technology, but when and how,” concluded Wilzbach. “And more importantly, how successful they are in selecting an eVault provider with a proven track record to deliver.”

Mortgage Banker Magazine
Mortgage Banker Magazine
This article was originally published in the Mortgage Banker July 2022 issue.
Published on
Jul 20, 2022
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