What is an eNote?
Used in a digital mortgage, an eNote is an electronic version of a conventional promissory note that is digitally created, signed, transferred, and managed.
Containing the same information as a paper note, such as loan amount, property address, and interest rate, an eNote can be transferred between a lender, investors, warehouse lenders, document custodians, servicers, and subservicers. In this way, it forms the cornerstone of the end-to-end system that enables fully digitized mortgage closing.
eNotes enable a remote and contactless digital loan experience, offering speed, security, and accuracy. They help lenders meet both stringent regulatory requirements and consumers’ need for convenient and smooth digital experiences.
