Freddie Mac approves LoanCare as eNote servicer
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Industry News
Tuesday, October 16, 2018
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Freddie Mac has approved LoanCare as the first subservicer to begin servicing eNotes through its own eVault, the company announced.
eDeliveries now may be received in LoanCare’s eVault and transfers of control and/or location may be transferred to Freddie Mac from LoanCare’s eVault. LoanCare said it will monitor for events in the portfolio which require reporting and perform the updates needed in its eVault to drive the updates to MERS eRegistry.
“We believe that Freddie Mac’s approval has officially positioned LoanCare as the industry’s leader for eMortgages. We continue to invest in our technology and leverage our expertise in the industry to shape the future of subservicing,” LoanCare President Dave Worrall said in a release. “We continue to expand the servicing products we offer to our clients and provide them with market differentiators.”
Additionally, LoanCare has created a standard eNote solution that is being utilized to support its current and potential clients’ needs around eNotes. LoanCare said the solution allows clients to cut costs, operate more efficiently and save time when transferring or selling their eNote loan to Freddie Mac.
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