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Wolters Kluwer eVault capability now open to more US lenders through Ginnie Mae Digital Collateral Program

By on July 27, 2022 0

MINNEAPOLIS–(BUSINESS WIRE)–Lenders across the United States who are eligible to participate in Ginnie Mae’s recently expanded digital collateral program can now enjoy the benefits of eVault technology integrated into the Ginnie Mae mortgage ecosystem and powered by Wolters Kluwer Compliance Solutions.

This spring, Ginnie Mae, the U.S. government’s National Mortgage Association, announced that it will begin accepting new applications, beginning June 20, 2022, for its expanding digital collateral program. This program is available to lender issuers, eCustodians and mortgage loan sub-services. One of the criteria for becoming an electronic issuer under the new program is having an electronic safe and demonstrating experience creating, saving and transferring electronic notes.

Wolters Kluwer eVault technology has been integral to the success of the digital program since its rollout in October 2019. For lenders, the eVault provides a high level of assurance that their loans are originated and managed throughout their loan lifecycle. secure and compliant manner.

“Very simply, our eVault gives lenders who work with Ginnie Mae the confidence – what we call Digital Asset Certainty – to ensure their digital loans are created, stored and issued in full compliance with all industry compliance standards. At the same time, it maintains the highest level of legal enforceability throughout the life of every digital loan,” said Simon Moir, Vice President, Banking Compliance Solutions at Wolters Kluwer Compliance Solutions. We are excited to contribute to the success of Ginnie Mae and her stakeholders on the digitalization journey, and expanding the program will only help to further industry adoption of eMortgage capabilities.

The expansion of the applicant pool follows a successful pilot phase and further leverages the digital program of Ginnie Mae, which securitized its first e-note in January 2021 and has since securitized over $8 billion in e-notes .

Wolters Kluwer eOriginal is a recognized leader in the creation of electronic safes and electronic notes 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 eRegister – 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 US insurers, banks, credit unions and securities firms. The company, part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions effectively manage risk and regulatory compliance obligations, and gain the insights needed to focus on better service to their customers and the growth of their business.

Wolters Kluwer’s GRC division provides a range of expert solutions to help financial institutions manage regulatory obligations and risk. The eOriginal® suite of purpose-built digital lending solutions from Wolters Kluwer Compliance Solutions, for example, helps lenders digitize their transactions and offers e-signatures, collateral authentication and an e-vault. OneSumX® for Regulatory Change Management from Compliance Solutions tracks regulatory changes and organizes them to create value-added structured content through a single data feed combined with an easy-to-use software solution. Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR), meanwhile, is a global market leader in providing 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 and Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency and deliver better business results. GRC offers a portfolio of expert technology 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 healthcare, tax and accounting, risk and compliance, finance and legal. Wolters Kluwer achieved annual sales of €4.8 billion in 2021. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in more than 180 countries, maintains operations in more than 40 countries and employs 19,800 people worldwide.