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A fast explainer on what an eNote is. An eNote is an electronic version of the promissory word, the record of the duty to repay the mortgage. Previously, tis document was a paper doc, however in recent enotes times , a move towards digitization in the mortgage enterprise saw an increase in a digital model of the doc, known as an eNote.
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Wells Fargo will start buying eNotes from a select group of lenders, to be adopted by a broader market providing throughout 2019. This is the second vital digital initiative launched by Wells Fargo Home Lending in 2018. Earlier in the yr, Wells Fargo launched an online mortgage utility for its retail origination consumers.
Interest in the manufacturing of electronic promissory notes, or eNotes, continues to grow as customers and lenders acknowledge the worth of shifting towards a extra streamlined, digital process. Through the automated integration into eOriginal’s eNote technology, LendingQB is providing enotes originators of all sizes with accelerated entry into the digital mortgage ecosystem, while gaining process efficiencies and enhancing quality management by eliminating handbook entries and evaluations by way of LendingQB’s loan origination system.
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