Thread by @krollbondrating

#ICYMI: Here are our takeaways for "eNotes, eVaults, and eClosings: Pursuing an end-to-end Digital Mortgage Process" session today at the #SFVegas2020. @SFAssociation

@SFAssociation M - eClosings – if any required closing document is accessed, presented and signed electronically. | #SFVegas2020

@SFAssociation P: eNotes can be sold into the GSEs (Fannie and Freddie) and it happens today. An incremental approach to transitioning to eClosings discussed. For example some eDocs and paper notes. | #SFVegas2020

@SFAssociation P: The transition takes significant effort but the cost savings and efficiencies are attractive. | #SFVegas2020

@SFAssociation P: eNote – the promissory document is obviously key and requires significant infrastructure.

eNote – legality established in 1999 and subsequent legislation which facilitates the ability to create and transfer eNotes free from intervening claims. | #SFVegas2020

@SFAssociation P: GSEs have a uniform instrument that sets forth the nature of the note and where it is stored. | #SFVegas2020

@SFAssociation P: Definitive copy of the eNote is held in the eVault.

P: MERS has become market standard and the MERS eRegistry tells you what is the authoritative version, who the owner is, what eVault stores eNote, and MERS records transfers. | #SFVegas2020

@SFAssociation P: eVaults store “authoritative” legally operative document. | #SFVegas2020

@SFAssociation P: MERS indicates that Custodian holds an authoritative copy in the eVault and can be transferred to other eVaults. | #SFVegas2020

@SFAssociation P: MERS is like reverse blockchain technology. Over 80% of jurisdictions accept eClosings. | #SFVegas2020

@SFAssociation P: Efficiency of eClosings, eNote, and eDelivery usage is compelling. | #SFVegas2020

@SFAssociation P: Benefits – faster delivery and better collateral control, automation of QC processes, reduced costs of shipping, etc. | #SFVegas2020

@SFAssociation P: Annual eNote registrations have taken off since 2017, with over 120,000 eNote registrations in 2019. | #SFVegas2020

@SFAssociation This concludes our coverage of #SFVegas2020 for today! Stay tuned for our conference recap! In the meantime, make sure you sign up to access our ratings and research for free: kbra.com