Electronic Note Registry System definition
Electronic Note Registry System. A system of recording the existence and ownership of a Mortgage Note that is signed electronically. Eligible Depository: (a) Any Federal Reserve Bank, (b) any Federal Home Loan Bank, or (c) any other depository institution that:
Electronic Note Registry System. A system of recording the existence and ownership of a Mortgage Note that is signed electronically. [MERS e-note registration system][emphasis added]
Examples of Electronic Note Registry System in a sentence
If and to the extent that a Mortgage Note is an electronically signed document, then in lieu of delivery or endorsement of the Mortgage Note to the Trustee or Custodian, all necessary steps will be taken on the applicable Electronic Note Registry System for the Trustee to be considered in control of that Mortgage Note.