A change in one warehouse lender’s funding process through the utilization of digital notes is expected to speed up the mortgage funding process by days.

A news release Wednesday from Flagstar Bank indicated that the financial institution will now accept eNotes in order to fund its warehouse lending transactions.

According to the Troy, Michigan-based company, once the eWarehouse line is requested and approved, an eNote is instantly delivered to Flagstar’s eVault and registered with MERS.


Source: Mortgage Daily