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eMortgages

Get Started with eMortgages

The use of eMortgages (a mortgage with an electronic promissory note) and other electronic closing documents is steadily becoming a market practice. Such mortgages help simplify and facilitate the closing process for your borrowers and your business.

To help determine your operational readiness to sell and/or service eMortgages to Freddie Mac you’ll need to:

  • Determine that you have and will maintain adequate resources, technology, polices and procedures to conduct eMortgage business.
  • Discuss with your business partners (title/settlement agents, warehouse lenders and vendors) their readiness to support electronically closed documents.

Complete eligibility requirements to originate, deliver and service eMortgages are found in the Single-Family Seller/Servicer Guide Chapter 1402.

Lender Benefits

  • Potential for increased liquidity due to shorter timeframes from origination to sale of the loan in the secondary market.
  • The risk of losing the original paper Note is eliminated and so is the need for affidavits when Notes are lost. This reduces the associated delays in loss mitigation activities.
  • Potential for reduced cost for warehouse lines.
  • Potential for reduced cost of storage with a Custodian.
  • Improved data quality with an automated certification process for eNotes. Data can be pulled directly from source documents, reducing the need for "stare and compare" and the potential for human error.

Click Here to launch eClosing Benefits Calculator

 

"The fact that eNotes and documents from an eClosing move across our ecosystem in seconds instead of days keeps our business moving at lightspeed."

kyle symoniak
Kyle Symoniak
SVP of Capital Markets, Rocket Mortgage
 

"The efficiencies we have gained through Freddie Mac’s eMortgage process is a major contributor of our remaining profitable over the past two years.”

jeff bode
Jeffrey Bode
Chief Executive Officer, Click 'n Close
 

"As we’ve moved further into eNote production the most exciting impact has been the reduction in lost notes. We look forward to a world where torn open packages, UPS/FedEx investigations and LNAs are all things of the past.”

Vivian Knouse
Vivian Knouse
Director of Operations, Guaranteed Rate
 

"Since integrating this technology, our borrowers have saved up to 45 minutes in the actual closing process. That’s a lot of time that the borrower saves not sitting in front of a notary that doesn’t work for our bank.”

Jaylene O'Brien
Jaylene O'Brien
Senior Vice President, Mortgage Operations, nbkc Bank

How eMortgages and Digital Efficiencies Elevated Primary Residential Mortgage, Inc.

Avoid the constant frustration and see how a lender like you, Primary Residential Mortgage, Inc., successfully implemented eMortgages to elevate their business to save $258 per loan and reduce errors by 80%.

Featured Resources

eMortgage Supporting Document Delivery Requirements

Get clear directions on how to deliver your supporting documents for eMortgages.

Electronic Loss Mitigation Documents Quick Reference Guide

Learn the requirements for leveraging electronic loss mitigation documents, and where to find this information.

Guide Chapter 1402: Freddie Mac eMortgage Requirements

Browse this guide to better understand the Freddie Mac eMortgage process.

eMortgage Review/Approval Requirements

To sell eMortgages to and/or begin servicing eMortgages for Freddie Mac, you’ll need to get your eClosing and eNote systems approved first.

Interactive eClosing Implementation Roadmap

Ready to begin your digital closing journey? Use our roadmap as your guide to successful eClosing adoption.

eClosing Implementation Roadmap Overview

Review our five key checkpoints for successful eClosing implementation.

eNote Foreclosure Educational Aid

Get help from the educational aid resource, intended to address a barrier to eMortgage adoption identified in the 2016 joint GSE eMortgage outreach survey.

Closepin

In today's mortgage lending marketplace the interests of consumers, lenders, and closing agents are in conflict. The result is a cumbersome process of risk management which is challenging for closing agents, increases liability to lenders, and decreases consumer choice.

Electronic Loan Documents FAQ

Get answers about Freddie Mac's requirements for electronic loan documents and electronic signatures.

eMortgage Guide Security Best Practices

The guidance below provides best practices to consider when developing your eMortgage systems and governing policies. Share this information with your IT and information security teams as they prepare to implement your eMortgage systems.

From Necessity to Longevity: SouthState Bank’s Road to “e”

SouthState Bank is embracing the digital evolution, with 50% of their production volume being eMortgages. Get their story and insights for implementation in our latest case study.

Going to New Depths with eMortgages

eMortgage adoption is gaining as lenders push to get loans across the finish line faster in a bid to provide borrowers with greater speed and convenience. Learn more about Freddie Mac's role in expanding eMortgages and remote or hybrid closings.

Fairway Independent Mortgage Corporation's Fix for a Future of eClose

This eMortgage case study provides insights from Fairway Independent Mortgage Corporation and how they leveraged eClosings to exceed their clients’ expectations.

5 Key Insights on Going Digital

In the first few months of 2022, Raj Penugonda attended various conferences and events to address the benefits of going digital. View his top insights in this article.

eClosings: The Myth of "All or Nothing"

Adopting eClosings doesn’t have to be an all or nothing approach. Learn how going digital with hybrid and bifurcated eClosings can scale your eMortgage production.

Evergreen Home Loans Leverages Freddie Mac Solutions

The digital mortgage space is a constantly evolving industry that has only fast-tracked during the pandemic. How can you keep up with industry trends to increase business growth and efficiency?

eMortgage - Learn from Lenders Like Yourself

Are you ready to start implementing eMortgages? Hone in on the challenges and successes of Atlantic Bay Mortgage Group’s journey to adopting digital closings.

Accelerating eMortgage Adoption with the eMortgage Quick Start Program

Together with Snapdocs, Freddie Mac is solving the common challenges lenders experience in adopting eClosings by offering both the tools and support needed to effectively implement the use of eMortgage technology.

Let's Get Digital. eMortgages Are Here to Stay

Ready to start your eMortgage journey? Freddie Mac product expert, Raj Penugonda, in partnership with industry leaders, share best practices for eMortgage implementation.

Freddie Mac Single-Family Expert Roundup

Many companies have focused on digitizing their mortgage processes and have seen wins with efficiency, process and quality. What’s in store for the future? Freddie Mac experts weigh in on eMortgage benefits.

eMortgage Fact Sheet

Not all mortgage lenders are ready to go "e" all the way. With Freddie Mac, you can choose how you integrate the use of electronic loan documents and electronic signatures into your business.

eClosing Benefits Calculator

This tool will help you determine the benefits of implementing the eClosing process. Some of the benefits will be applicable only if the eClosing process includes eNotes.

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