SimpleNexus has been certified as an eClosing provider for Fannie Mae and Freddie Mac (the Enterprises), meaning the company’s Nexus Closing eMortgage solution meets both organizations’ technical requirements for eClosing, eNote and eVault functionality and has been tested for compatibility with the Enterprises’ respective eNote delivery systems.
“Nexus Closing gives lenders the flexibility to make the closing experience as digital as they want,” SimpleNexus CEO Cathleen Schreiner Gates said in a release. “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.”
In addition to providing an end-to-end, single-sign on homebuying experience, Nexus Closing also has integrated remote online notarization and eSigning, automatic generation of a tamper-sealed eNote documents, and delivery of the eNote into a secure eVault for delivery to the MERS eRegistry.
Approved Enterprise servicers who want to deliver eMortgages to Fannie Mae and Freddie Mac can use Nexus Closing to create and submit eMortgages to either Enterprise. Working with a pretested vendor like SimpleNexus can expedite the approval process for lenders.