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ComplianceFinanceOctober 25, 2019

Ginnie Mae selects eOriginal in support of 2020 technology modernization initiative

Growing the most trusted digital mortgage ecosystem for the industry

eOriginal, a digital lending technology pioneer, today announced that Ginnie Mae will deploy eOriginal’s eVault technology as part of its digital transformation and modernization initiative.

“Ginnie Mae and eOriginal share a common goal of minimizing risk and providing liquidity and stability for the mortgage industry” said Brian Madocks, CEO, eOriginal. “We view Ginnie Mae’s support of eNotes as integral and a key accelerator of digital adoption in the mortgage industry, and eOriginal is committed to providing the most trusted and compliant solution for Ginnie Mae and their partners.”

“This announcement underscores Ginnie Mae’s commitment to modernizing its MBS program and platform, as outlined in our Ginnie Mae 2020 white paper, “The Road to Modernizing and Enhancing our Programs,” said Angel Hernandez, Ginnie Mae Director, MBS Policy and Program Development. “Creating a digital mortgage ecosystem, from loan application through securitization, increases access to credit for many Americans. It will also enhance the integrity of Ginnie Mae collateral by reducing the risk from defects in loan instruments.

“We have been at the forefront of innovation for the digital mortgage industry, said Madocks, and enabling Ginnie Mae and their issuers through the implementation of digital mortgage is no exception.”

This further complements the digitization of the mortgage ecosystem currently powered by eOriginal: Quicken Loans, Wells Fargo Home Lending, and Fannie Mae to name a few. In addition, over one-half of all eClosing providers approved by both Fannie Mae and Freddie Mac are enabled as solution extensions of eOriginal, and 95% of year to date eNote registrations through the MERS eRegistry were driven by eOriginal customers.

“We’re honored to be selected by Ginnie Mae” said Madocks, “and we recognize that with this opportunity comes an important responsibility to enable the smart digital growth of the mortgage industry through robust technology and the rigor of digital asset certainty standards that will protect the health of our financial markets.”

In December 2020 Wolters Kluwer Governance, Risk & Compliance signed an agreement to acquire eOriginal, a leading provider of cloud-based digital lending software, for approximately €231 million in cash.

Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

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Paul Lyon
Paul Lyon

Senior Director, External Communications: Global Branding & Communications

Wolters Kluwer
David Feider
David Feider
Associate Director, External Communications
Financial & Corporate Compliance
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