Ginnie Mae recently announced that it will permit the issuance of mortgage-backed securities (MBS) backed by mortgage loans documented using electronic promissory notes (eNotes) under its Pools Issued for Immediate Transfer (PIIT) program beginning February 1, 2026.  The PIIT program is a “co-issue” program that allows loan originators to pool loans with Ginnie Mae, and simultaneously transfer the issuer and servicing responsibility to a purchaser of the related servicing rights.  Loans backed by eNotes are a quickly growing part of the residential lending market – in its announcement Ginnie Mae states that since it began accepting digitally backed loans (the pilot program launched in 2020) at least $92 billion dollars in eNote backed assets have been included in Ginnie Mae MBS, with over 50 issuers participating in the program.  Until now, however, Ginnie Mae was unable to accommodate eNotes in the PIIT program.  Fannie Mae and Freddie Mac already have co-issue programs for the purchase and pooling of loans backed by eNotes.Continue Reading Ginnie Mae Accommodates Further Use of eNotes