Wolters Kluwer eVault capability now open to more U.S. lenders via Ginnie Mae Digital Collateral Program

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.

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.