Deutsche Bank’s US Document Custody eVault handles both the safe-keeping of eNotes as well as the movement from and to eVaults over the eNote lifecycle. The fully developed platform will cater to both online originators as well as brick and mortar participants extending to both the private-label and agency sectors
Warehouse lender and mortgage originators will be expanding both their eClosing footprint, from which eNotes are generated, as well as their ability to purchase and sell these notes. While varying regulatory entities across states and counties that are still paper-based present challenges, there is a wide commitment to address these issues and expand where eClosings are supported by jurisdictional electronic platforms. In addition, managing eNotes to comply with industry standards and developing processes that allow eNotes to move seamlessly across technology platforms are still in the early stages.
In May 2018, Deutsche Bank launched an eVault with a prominent US mortgage warehouse lender and a US mortgage originator along with government sponsored entities. Many more clients have expressed interest in using Deutsche Bank’s eVault.
As this space continues to develop, it is critical that early adopters of the electronic platform help the industry evolve by creating and complying with common standards that are meant to increase efficiency and improve accuracy.
The eNotes are compliant with Mortgage Industry Standards Maintenance Organization (“MISMO”) standards and the eVault system fully interacts with the Mortgage Electronic Registration Systems (“MERS”) central registry platform.
- Market leadership: The Deutsche Bank eVault is the first of its kind and demonstrates the Bank’s commitment to innovation and investment in the document custody business.
- Technology: eVault is built to scale so that additional volumes can be brought to the platform in a simple and efficient manner.
- Expertise: The Trust and Agency Services leadership team has over 20 years of document custody experience with a strong history of making clients our main priority.
- Strategic Partners: We partner with top public and private commercial banks and lenders in addition to government sponsored entities.