BNY Mellon Corporate Trust has introduced an eVault service that will allow it to receive, process and store electronic mortgage documents on behalf of its clients.
By transforming the current paper-based process into one that is completely electronic, eVault boosts efficiency, creates transparency and allows for faster delivery to the secondary market, BNY Mellon Corporate Trust says. The company has partnered with eSignSystems, a provider of life-cycle management tools for e-mortgage processing that provides full integration with Mortgage Electronic Registration Systems (MERS).
‘As one of the industry's largest document custodians, we will work with MERS and the other utilities driving this electronic movement to continue to develop what the custodial role should be in the future,’ states Rick Stanley, executive vice president and head of structured credit at BNY Mellon Corporate Trust.
SOURCE: BNY Mellon