Secure, robust eVault functionality is integral to mortgage digitization journey

Lenders across the U.S. that are eligible to participate in Ginnie Mae’s recently expanded Digital Collateral Program may now experience the benefits of the eVault technology that is integrated within Ginnie Mae’s mortgage ecosystem—and provided by Wolters Kluwer Compliance Solutions.

This spring, Ginnie Mae, the U.S. Government National Mortgage Association, announced it would begin taking new applications, effective June 20, 2022, for its expanding Digital Collateral Program. This program is available to lender issuers, eCustodians and subservicers of mortgage loans. One of the criteria for becoming an e-Issuer under the new program is having an eVault and demonstrating experience with creating, registering and transferring eNotes.

The Wolters Kluwer eVault technology has been integral to the Digital program’s success since its deployment in October 2019. For lenders, the eVault delivers a high level of assurance that their loans are created and managed throughout their lifecycle in a secure, compliant manner.

“Very simply, our eVault provides lenders who work with Ginnie Mae the confidence—what we call Digital Asset Certainty—to ensure that their digital loans are being created, stored and assigned in full accordance with all industry compliance standards. At the same time, it maintains the highest level of legal enforceability throughout the life of each digital loan,” said Simon Moir, Vice President, Banking Compliance Solutions at Wolters Kluwer Compliance Solutions. “We are pleased to be contributing to the success that Ginnie Mae and its stakeholders are experiencing on the digitization journey. The program’s expansion will only help further advance industry adoption of eMortgage capabilities.”

The applicant pool expansion follows a successful pilot phase and further builds on Ginnie Mae’s Digital program, which securitized its first eNote in January 2021 and has since securitized more than $8 billion in eNotes.

Wolters Kluwer eOriginal is a recognized leader in eVault and eNote creation and is the primary provider of Ginnie Mae’s digital modernization program. Through January 2022, Wolters Kluwer eOriginal is the industry’s leading eVault provider, managing 92% of all eNotes registered on the MERS eRegistry – 1,143,427 out of 1,241,561 loans. In addition to Ginnie Mae, its eVault technology is used by Fannie Mae and leading lenders such as Wells Fargo and Rocket Mortgage.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. insurers, banks and credit unions, and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.

Wolters Kluwer’s GRC division provides an array of expert solutions to help financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal® suite of purpose-built, digital lending solutions, for example, helps lenders digitize their transactions and features electronic signatures, collateral authentication, and an electronic vault. Compliance Solutions’ OneSumX® for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content through a single data feed that is paired with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. The division’s legal solutions businesses are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance and banking regulatory compliance.

Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance, and legal sectors. Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,800 people worldwide.

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