ICE Mortgage Technology Announces MERS Expansion to Include Industry-Wide Remote Online Notarization Video Storage Solution
October 18 2021 - 12:00PM
Business Wire
Industry Utility for Remote Online Notarization
(RON) Videos to Drive Digital Adoption
ICE Mortgage TechnologyTM, part of Intercontinental Exchange,
Inc. (NYSE: ICE), a leading global provider of data, technology and
market infrastructure, today announced that MERSCORP Holdings,
Inc., the mortgage industry’s national electronic loan registry, is
expanding its capabilities to now include industry-wide, secure
storage of Remote Online Notarization (RON) videos for lenders,
investors, and servicers. The MERS RON video storage solution will
provide a secure way to store, provide access to, and retrieve
copies of RON video recordings for notaries, RON platform
providers, and authorized parties during post-closing review, loan
purchase as well as downstream events such as foreclosure.
“MERS has long been the industry’s system of record for
registering and tracking residential mortgages and this extension
of capabilities perfectly complements and extends the value that
MERS delivers for the entire industry,” said Joe Tyrrell, President
of ICE Mortgage Technology. “Because MERS technology solves complex
retention, tracking and accessibility issues, while instilling
confidence across multiple stakeholders, the industry is now
finally able to fully embrace the power of eClosings.”
MERS will extend its registration capabilities to meet this
critical industry need with an initial release at the end of the
year. The solution will be available by both user interface and
API. Planned enhancements in 2022 will expand the functionality to
include validation, custom storage durations, and other extended
features.
“The MERS video storage solution is a tipping point for RON
adoption,” said Chris King, Senior Vice President, Business
Development at Mr. Cooper®. “This enhancement gives investors the
confidence they need during the life of the loan to access RON
videos in a secure and centrally located storage facility. MERS is
the obvious choice.”
“Having a single, independent place to house and provide access
to the industry’s RON videos will answer a big issue in the
industry today,” said Michael Lyon, Executive Vice President at
Nexsys®. “As one of the leading contributors of eNotes to the MERS
eRegistry, Nexsys is excited to be part of this solution that will
accelerate industry adoption.”
Find out more information about MERS and its solutions by
accessing the latest here: https://www.mersinc.org/index.
ICE Mortgage Technology combines technology, data and expertise
to help automate the mortgage process, from consumer engagement
through loan registration, and every step and task in between. ICE
Mortgage Technology is the leading cloud-based loan origination
platform provider for the mortgage industry, with solutions that
enable lenders to originate more loans, lower origination costs,
and reduce the time to close, all while ensuring high levels of
compliance, quality and efficiency. Visit icemortgagetechnology.com
or call (877) 355-4362 to learn more.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500
company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate exchanges,
including the New York Stock Exchange, and clearing houses that
help people invest, raise capital and manage risk across multiple
asset classes. Our comprehensive fixed income data services and
execution capabilities provide information, analytics and platforms
that help our customers capitalize on opportunities and operate
more efficiently. At ICE Mortgage Technology, we are transforming
and digitizing the U.S. residential mortgage process, from consumer
engagement through loan registration. Together, we transform,
streamline and automate industries to connect our customers to
opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for certain
products covered by the EU Packaged Retail and Insurance-based
Investment Products Regulation can be accessed on the relevant
exchange website under the heading “Key Information Documents
(KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2020, as
filed with the SEC on February 4, 2021.
© 2021 ICE Mortgage Technology, Inc. All rights reserved.
Encompass® and the ICE Mortgage Technology logo are trademarks of
the entities of ICE Mortgage Technology, Inc.
Source: Intercontinental Exchange
ICE-CORP
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PRESS CONTACT Sara Holtz ICE Mortgage Technology (925)
227-2193 sara.holtz@ice.com Jenny Gendron ICE Mortgage Technology
(925) 227-3490 jenny.gendron@ice.com ICE INVESTOR RELATIONS
CONTACT Mary Caroline O’Neal marycaroline.oneal@ice.com (770)
738 2151 investors@ice.com
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