The MERS system recently released an update (version 23.1) on July 9, 2023. This update allows non-MOM loans to be submitted through the MERS Online Registration channel for immediate registration, making the process easier and quicker. The eRAMP batch processing system has also been updated to take advantage of the non-MOM change, effective starting July 18, 2023. This update enables one to thousands of MOM and non-MOM loans to be submitted in batches to MERS through their Online Registration channel.
Prior to release 23.1 seasoned loans over 270 days were required to be registered using the MERS SFTP batch overnight process. eRAMP continues to manage loan registration submissions following MERS data requirements including the 270 day rule. Any loans exceeding this threshold will be automatically set up to submit to the SFTP batch process.
eRAMP has been the leading batch transaction management system for MERS Registration, Transfer of Rights and over a dozen different transaction types with MERS since 2003. It works with all LOS systems and features an intelligent rules engine to ensure smooth operations.
If you want more information about eRAMP’s support for the latest changes in MERS release 23.1 or would like a demo of our eRAMP MERS transaction management system, visit our website at www.OnCyberlink.com.