Ginnie Mae Seeks Input on Digital Mortgage Guidelines

October 29, 2019

Ginnie Mae issued a Request for Input (RFI) on the requirements that address the acceptability of digital promissory notes and other electronic documents as well as participation in its Digital Collateral Pilot.

Among the requirements in Ginnie's proposal are ones that would require e-notes to be Version 1.02 MISMO Category 1 SMART Docs generated, displayed and signed electronically using a qualified electronic closing system. The electronic documents also would have to be secured by a tamper seal. The RFI follows an announcement Ginnie Mae made last year about a pilot program in which digital pools and loan packages cannot contain any traditional paper files.

Responses are due Dec. 1, 2019 and should be sent to

"This announcement underscores Ginnie Mae’s commitment to modernizing its mortgage-backed securities (MBS) program and platform in order to create a digital mortgage ecosystem, from loan application through securitization, that increases access to credit for many Americans,” said Angel Hernandez, director of Ginnie Mae’s MBS Policy and Program Development. “It will also enhance the integrity of Ginnie Mae collateral by reducing the risk from defects in loan instruments. For these reasons, Ginnie Mae is investing in the development and implementation of the policies, technology and operational capabilities necessary to take in digital promissory notes and other digitized loan files as acceptable collateral for our securities.”

Earlier this month, Ginnie Mae announced it selected eOriginal to provide e-vault software and services to the agency.

“Ginnie Mae and eOriginal share a common goal of minimizing risk and providing liquidity and stability for the mortgage industry,” said Brian Madocks, eOriginal CEO. “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.”

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