Announcement: GNMA eNotes

Effective June 16^th, Onity is excited to announce that we are now approved and accepting locks for the purchase of fixed rate GNMA eNotes in our Delegated Correspondent Lending Channel. The Correspondent Seller Guide (Section 2.7.9 Approval to Deliver eNotes/eMortgages and Chapter 9 eMortgages) will be updated soon to align with this expansion.

GNMA eNotes

• Available to our Delegated Correspondent Lenders only.
• Sellers must be approved with GNMA for eNotes.
• Sellers must complete testing and obtain separate eNote approval with Onity to submit eMortgage’s:
  • If a seller is already eNote approved with Onity and was GNMA approved at initial approval with Onity, a new approval or testing is not needed.
    • Note: Warehouses may require updates, so sellers will need to confirm this with their specific warehouses.
  • If at the time of initial approval with Onity the seller was not GNMA eNote approved, reconfirmation of approval and potential new testing will be needed.
• Sellers are encouraged to notate eNotes in their bid tapes to ensure accurate delivery.

GNMA eNotes for PIIT

• GNMA PIIT is approved for delivery. Please contact your Sales Executive for more information.

If you have any questions, please contact your Correspondent Specialist, Sales Executive or contact us via the support line at 1-800-929-4744.