Falcon Digital Mortgage January 2023 Newsletter

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Falcon Digital Mortgage January 2023 Newsletter

More eNote Opportunities

Lenders, if you think the GSEs are your only viable outlet for the sale of eNotes…think again. This was the key takeaway from the “eNote Outlets Beyond the GSEs” panel at the recent MISMO Winter Summit. The panel, moderated by our Senior Manager, Tim Renner, featured Lynne Chandler of Ginnie Mae, Mike May of FHLB Pittsburgh, Brian Pannell of DocMagic, and Leah Price of Figure Lending/DART. Among the topics discussed by the panelists was the tremendous growth over the past 2 -3 years of the eNote landscape.

The Ginnie Mae Digital Collateral Program is up to 15 eIssuer participants who have securitized more than $18 billion in eNotes, there are now 8 FHLBs accepting eNotes as pledged collateral, and an increasing number of credit unions, warehouse lenders, aggregators, and servicers are incorporating eNotes into their business processes. The operational efficiencies gained, mitigation of risks, and the cost savings all associated with eNotes and other digital loan products are maximized when organizations can digitize as much of their origination volume as possible. Let’s hope the word is beginning to spread that the opportunity to digitize is there and lenders just need to seize the opportunity. – Armando

 

The Benefits of eNotes

Security? Check. Speed? Check. Efficiency? Check. eNotes – the digital equivalent to the promissory note during closing – are integral to a digital closing process and are quickly replacing their paper counterparts. But why? Check out Blend’s overview of the benefits of using eNotes

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New Survey Shows 60% of Respondents Believe That Using Technology Will Expedite the Loan Process

Wolters Kluwer surveyed 100 lenders and found that 47% used closing technology. According to the new survey, lenders are still hesitant about closing technology. However, 60% of respondents believed that using technology will expedite the loan process. Of the digital solutions implemented by the respondents, 46% said they use eSignatures, nearly 40% said RON, and 27% use an eVault. Commenting on the results of the survey, Wolters Kluwer’s Kevin Wilzbach said: “The industry as a whole needs to be more evangelical about explaining the benefits of digital closings. We also need to do a better job in terms of articulating the value of digital lending by defining it in terms of the overall consumer experience.”

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New Leadership at MISMO

Congratulations are in order for both Seth Appleton and Jan Davis. Appleton, MISMO’s former President will now be the   President of U.S. Mortgage Insurers. Davis, MISMO’s long-time VP of Operations, will assume the role as acting President until the position is filled.

 

Vendor & Integration News

Flueid recently announced a new partnership with Notarize to make RON data and services accessible through the Flueid Decision platform. Flueid lenders and title customers can now check eClosing and eRecording availability within Flueid Decision.

Indecomm has significantly expanded the number of jurisdictions where it offers its eRecording services, bringing the total number to 1,900. By enhancing its eRecording capabilities, Indecomm drastically reduces document recording turnaround times for its lender and title company clients.

Last month, Coastal Credit Union completed its first fully digital eClosing with RON in North Carolina within two weeks of fully implementing DocMagic’s Total eClose solution.

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Security & eClosings

Since the first discussions about eClosing, remote online notarizations (RONs), eMortgages, and similar digital closing tools, have been held up as being more secure than paper transactions. Many settlement services providers have felt confident in touting these products, lobbying legislators and regulators for their use and encouraging other industry members to get on board. But what makes these transactions secure, and how can we play a part in ensuring their security?

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Upcoming Events

The Falcon team will be at ICE Experience 2023 2/27 – 3/1. Contact Tim Renner to schedule a meeting.

 

Have an eMortgage related news item you want to share? Want to make sure you and your team are on our distribution list? Have a question about Falcon’s digital mortgage advisory services? Send us a note at [email protected]

Falcon Digital Mortgage December Newsletter

2022 Year in Review

What a year! We started relatively strong, coming off the best year ever in terms of originations. But as we all know, interest rates doubled over the course of the year causing a precipitous drop in volume, which in turn stalled the real estate market.

Market headwinds caused some firms to delay or shelve large-scale digital transformations, while other firms used the slowdown to shift IT resources to projects that could increase efficiency, drive profitability and enhance their customer experience. Overall, lenders are more focused now more than ever on technology. They are recognizing that technology can benefit them in both up and down markets, but there is certainly no one-size-fits-all approach.

Over the course of the year, there were some notable events that will serve to support digital adoption going forward. These include:

  1. Ginnie Mae’s Digital Collateral Program. Ginnie Mae reopened the application window for its Digital Collateral Program and began accepting new applicants for the This paves the way for even more approved Ginnie Mae issuers to securitize government loan pools consisting of eMortgages — a major step forward for eMortgage adoption.
  2. Increased RON acceptance. We entered 2022 with 38 states having permanent RON laws and we’ve added a few more to close out the year at On the federal level, for the first time we saw a RON bill (the SECURE Notarization Act) pass in the House. While it didn’t make it out of the Senate, this marks progress nonetheless so hopes are high for 2023.
  3. ROI Studies. One of the hurdles that advocates of digital lending have faced in convincing their companies to undertake a major digital transformation has been the ability to show hard And this year, not one but two studies came out (commissioned

by Notarize and ICE respectively) that drilled down into the benefits of eClosing solutions and put specific numbers against them.

Notarize’s study found that lenders can save up to $444 per loan and title agents up to $100 per loan when using an eClosing solution. ICE’s study found that lenders can save 70 minutes per loan and shave two days off the loan cycle using the company’s hybrid eClosing system.

We are certainly looking forward to what 2023 brings!

-Armando

 

Data from FHFA and CFPB Shows Digital Processes Are Increasingly Important When it Comes to Picking a Lender

The FHFA and CFPB recently released updated data from the National Survey of Mortgage Originations. The data highlights borrowers’ experiences with the mortgage process during the height of the pandemic. One of the key findings was that in 2020 a higher share of borrowers reported that a paperless online mortgage process was more important to them (48 percent) than in 2019 (42 percent). In addition, 46% of purchase applicants stated that a paperless online process was an important factor in their lender choice.

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Figure-Affiliated SPAC Plans to Merge With Mortgage Bank

Figure Technologies has signed a letter of intent to merge with a warehouse lender and bank holding company, aiming to bring its blockchain technology to the acquired financial institution. The SPAC would take the bank public and allow it to leverage Figure’s technology,              potentially introducing a system of originating loans as fully digital assets that can be traded in real-time as digital tokens.

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Vendor News, Integrations & Partnership Updates

Guaranteed Rate and Stavvy recently announced a partnership designed to accelerate adoption of digital closing technology. The companies said that together they will drive digitization and enable relationships across the mortgage ecosystem, “from title and settlement agents to real estate professionals.”

Notarize has added four states to its notary sourced transaction (NST) platform. NST allows notaries to make use of RON and set their own pricing structures.

 

Digital HELOC Round Up

A lot of companies are making news in the digital HELOC space and competing to see who can fund HELOCs the fastest… loanDepot’s mello unit is now offering an all digital

HELOC that allows consumers to apply and get approved online in a matter of minutes and get access to funds within seven days. Movement Mortgage and Figure have partnered to give Movement’s borrowers access to their equity with approval in five minutes and funding within five days. Finally, fintech startup, Hitch, just entered the game and is promising borrowers access to funds within three days once approved.

 

 

IPEN – The Simple Way to Close Loans Electronically And Efficiently

Last month Tim Cooper was joined by executives from EscrowTab, Federal Title and Union Bank & Trust for an in-depth discussion on IPEN.

Some of the key takeaways from the panel were:

  • Title, notaries and lenders have limited knowledge of IPEN and education is key.
  • IPEN provides efficiencies in the process for title companies, notaries attorneys and lenders including reduced shipping, printing and paper costs, error reduction, reduction in time to return documents and quicker recording.
  • There are far fewer complexities and investor requirements for IPEN than for RON.

Click here to access the full on-demand session.

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Upcoming Events

Heading to the MISMO Winter Summit in Delray Beach, FL next month? Be sure to check out the panel “eNote Outlets Beyond the GSEs: The Who, What Why and When”, which will be moderated by Falcon’s Tim Renner.

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Have an eMortgage related news item you want to share? Want to make sure you and your team are on our distribution list? Have a question about Falcon’s digital mortgage advisory services? Send us a note at [email protected]

Falcon Digital Mortgage November Newsletter

Digital Closing Updates

Well, RON is back in the news again. Over the summer things were looking good for the SECURE Act when it passed in the House of Representatives. However, this important federal legislation has now hit a roadblock in the Senate, following opposition from California’s senators who believe RON closings are less secure and have a higher potential for fraud. Fortunately, there is widespread adoption of RON at the state level. We’re not there yet, but we are inching closer to a federal law.

Meanwhile, a recent survey from Solidifi, a leading settlement services provider, shows that many borrowers still want an in-person closing and only 19% of respondents preferred RON. Of those who prefer a face-to-face process, 60% want paper documents, 25% would choose a hybrid process.

Traditional, in-person closing ceremonies are often encouraged by loan officers and real estate agents for purchase transactions. But an in-person ceremony doesn’t have to mean paper and wet-ink signatures; it can involve the use of eSignatures and eNotarization (i.e., IPEN). Jim Voth, the Managing Director of our Digital Mortgage Practice, recently wrote about this trend in MBA Newslink, and, later this month, Tim Cooper will be speaking about it at the Maryland Mortgage Bankers Association.

After two and half years of the pandemic, the creation of nearly 2 million eNotes and new studies showing that digital closings can save somewhere between $300 and $400 per loan, you’d think the business case for RON and digital closings would be obvious. But apparently not everyone is there yet.

-Armando

 

FirstClose and Evolve Collaborate on Digital eHELOC Solution

FirstClose, a fintech provider of data and workflow solutions for home equity lenders, and Evolve Mortgage Services are partnering to automate the HELOC origination process. The new solution will enable lenders to approve HELOCs within 7 minutes and eClose lines within 7 days.

The solution reduces time to close from weeks to days with automated workflows, including ordering of required settlement services. It uses RON eClosing to decrease closing time from 50 minutes to 15 minutes. In addition, it allows investors to eRegister and board loans the same day for quicker, accurate funding.

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M&A News

MeridianLink, a leading LOS, has acquired OpenClose, a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders.

Commenting on the announcement, Nicolaas Vlok, CEO of MeridianLink, said: “Combining the strengths of our organizations is great for the industry as we further enable our customers to deliver fast, frictionless mortgage lending experiences, from application through closing.”

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Falcon Names Kara Ward General Counsel, Managing Director

We are excited to welcome Kara Ward to the Falcon team! Kara brings more than 14 years of experience in banking, finance, housing, as well as deep knowledge of the legislative and regulatory process. She is especially well- versed in complex, cross-governmental matters with intricate legal, policy and financing aspects.

Commenting on the new addition to the Falcon team, Armando Falcon said: “Kara’s role will be to focus on the intersection of consumer financial services innovation and government. Her expertise perfectly aligns with sectors our firm is actively serving: the single-family mortgage market, Community Development Financial Institutions (CDFIs), small business lending, and federal grants/loan guarantee management. In addition, she has deep experience with distributed ledger technology (blockchain) and cryptocurrency. Kara will be a valuable addition to our growing consulting team as well as a key strategic counselor to our government, private sector and digital transformation clients.”

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The Benefits of Blockchain- Backed Mortgages

Lenders can use blockchain technology to originate fully digital, tokenized mortgage assets on the chain. How does it work, and how can mortgage companies benefit from integrating with this technology?

Check out what Daniel Wallace, Figure‘s GM of Lending, has to say about the benefits of originating and managing mortgage assets with blockchain technology.

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Upcoming Events

Join Tim Cooper at the Maryland Mortgage Bankers and Brokers Association’s Breakfast & Learn session November 16. Tim will be joined by Brendon Weiss from EscrowTab, Todd Ewing from Federal Title and Allison Cole from Union Bank & Trust for an in-depth discussion on IPEN, the reason for the recent surge in popularity and the key differences from RON.

LEARN MORE

 

Have an eMortgage related news item you want to share? Want to make sure you and your team are on our distribution list? Have a question about Falcon’s digital mortgage advisory services? Send us a note at [email protected]

Falcon Digital Mortgage October Newsletter

See you in Nashville!

Not sure what’s next on your company’s digital transformation journey? Need strategic counsel on your company’s ESG policies? Looking for insight and strategy into business process reengineering?

Swoop on by the Bird’s Nest Lounge aka the Presidential Suite of the Home2 Suites Monday (10/24) & Tuesday (10/25) at MBA Annual and meet with Falcon’s team of strategic business and digital mortgage advisors.

Our team has successfully helped financial services companies, mortgage industry participants, technology providers and government agencies overcome their biggest challenges and achieve their goals. Whether that means leveraging and adopting technology or implementing new strategies, we can help!

So come on by, grab a drink & some light refreshments andlet’s start the conversation!

-Armando

 

Armando Falcon Selected as one of HousingWire’s Vanguard Winners

Congratulations to our very own, Armando Falcon, on being named one of this year’s HousingWire Vanguard Award winners.

The HousingWire Vanguard Award recognizes 100 senior-level executives in the housing finance industry who have led their organizations toward greatness while tackling challenges the housing economy has faced over the past 12 months. The honorees were selected by HousingWire’s selection committee and chosen for their vital contributions to their companies and the dynamic way they are changing the industry.

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ALTA Survey Shows RON years. Closings Are Expected to Increase

According to ALTA’s recent 2022 Digital Closing Survey, title companies offering RON services expect those types of closings to increase in 2023. In fact, 60% of title professionals offering RON that were surveyed said they believed RON closings will only increase in the coming years.

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Talking Digital Adoption

Jim Voth recently sat down with MBA Newslink to discuss the state of digital mortgage adoption. Check out the interview to learn more about what lenders can do to make the eClosing process more purchase friendly and how to ensure the adoption of a digital mortgage program across both purchase and refinance.

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Vendor Partnership Updates

SnapDocs has completed its integration with BeSmartee’s digital mortgage platform. The integration enables lenders to offer a modern borrower experience that spans loan origination to closing, driving faster closing times and reducing operating costs. The new solution employs machine learning to automate and streamline the borrower’s closing document review and signature steps.

Stavvy and Guaranteed Rate have just announced a partnership designed to “drive digitization and enable relationships across the mortgage ecosystem.” Together, the companies are planning to accelerate the number of electronic closings and drive digital transformation in the industry, while simultaneously allowing stakeholders to connect, sign and notarize documents.

 

IPEN vs. RON, What’s the Difference?

IPEN (In-Person Electronic Notarization) and RON (Remote Online Notarization) are both forms of electronic notarization, but there are key differences between them.

With IPEN, the signer is physically present but the documents are presented,  signed and sealed electronically. RON, on the other hand, involves a signing ceremony where the signer and notary are in separate locations. The ceremony is facilitated by the use of audio-video communication technology and the documents are presented, signed and sealed electronically.

Check out the National Notary Association’s latest article for more on the differences between IPEN and RON.

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Have an eMortgage related news item you want to share? Want to make sure you and your team are on our distribution list? Have a question about Falcon’s digital mortgage advisory services? Send us a note at [email protected]

Falcon Digital Mortgage September Newsletter

MISMO Fall Summit Takeaways

Earlier this month, our team attended the MISMO Fall Summit in D.C. Since it was held in D.C., government and agency attendance was high and the overall attendance was strong.

The event kicked off with Ginnie Mae’s President Alanna McCargo’s opening address that discussed the agency’s modernization, ESG and housing affordability efforts. And she shared the early progress of Ginnie’s Digital Collateral Program effort that our firm has been consulting on (see Ginnie Mae’s Total eNote Usage Tops $11 Billion story).

Ginnie Mae’s focus, she said, has been on delivering new tools and services to its customers. “We are moving to a cloud-based environment for all of our operations—all the innovation we want to do in the future is based on this,” McCargo said. “Over the past year we have been involved in an eMorgage pilot program. This is an important step in our strategic plan in which we are committed to digitization. We want our partners to cut costs through digital technology so they can pass those savings to our customers.”

As for housing affordability, the current economic environment poses unique challenges. “Housing supply and housing affordability are top of mind right now, and they remain difficult for the typical government borrower. It’s very difficult for first-time home buyers—and we serve 80 percent of the first-time buyer market. We used to be able to say that this was a ‘California thing,’ but the problem is everywhere.”

In addition to the sessions, numerous workgroups also met at the summit, including the MISMO eVault Standards Development workgroup, which is chaired by Tim Renner from our team and Camelia Martin of Snapdocs. That workgroup reviewed proposed requirements for eVault audit trails and eVault validations of eNotes and other electronic records. Falcon team members participated in several other workgroups as well, such as the ones on RON, Commercial eNotes and eVault/eNote Interoperability.

All in all, it was a good conference, focused on critically important issues to our industry and our country.

-Armando

 

New Study Spotlights Opportunities for Lenders to Optimize Borrower Experience

A new study — The State of the Borrower Experience — conducted by Stratmor and Snapdocs took a closer look at common pain points during the mortgage process and offered recommendations for lenders to improve the overall borrower experience.

The study surveyed 7,000+ U.S. borrowers who had recently completed a mortgage transaction. Some of the key findings included:

  • Investing in technology and process improvements downstream in the mortgage process can improve borrower experience.
  • Borrowers are generally happy with the application process.
  • Document collection and processing issues damage the borrower experience.
  • Borrowers experience more frequent and significant issues during closing.

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Network Transaction Solutions Launches RON Service in Texas

Network Transaction Solutions (NTS), a provider of title support services has recently introduced  RON  service in Texas. NTS has completed nearly 1,000 RON closings in Texas since entering the market earlier this year.

Commenting on the announcement, NTS Operations Manager Andrea Somers said: “Customers want more streamlined, digital solutions, and we have significantly increased the number of RON transactions conducted by NTS in Texas in just a few months to meet those demands. The feedback is strong and demand is growing. “We’re confident this is just the beginning, as the usage of online notarizations and eClosings by lenders and title agencies alike is only accelerating.”

Somers further noted that RON activity is not only spiking in Texas, but Florida as well, where NTS has delivered RON services since March 2020. She observed that, in those two states combined, NTS has now facilitated nearly 10,000 RON closings.

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Ginnie Mae’s Total eNote Usage Tops $11 Billion

Since reopening in June, the latest phase of the Ginnie Mae Digital Collateral Program has seen tremendous progress.

To date, Ginnie Mae has closed 42,000 eNotes with a value of $11 billion and is seeing big growth in the digital collateral space moving forward. The total volume issued since the program began in July of 2020, was just over $8 billion.

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Amrock Rolls Out eClosing Technology

Amrock, the title and settlement services arm of Rocket has just introduced a new technology that will allow borrowers to close a mortgage directly through their mobile device. Through this “first-of-its-kind” technology, the company said, clients can go close on a mortgage by connecting with the closing agent or notary from their smartphone.

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Let’s Connect at MBA Annual

Heading to Nashville next month for MBA Annual? Looking to start or enhance your organization’s digital transformation? Let’s  Connect! Contact Jim Voth to schedule a meeting.

CONTACT US

 

Have an eMortgage related news item you want to share? Want to make sure you and your team are on our distribution list? Have a question about Falcon’s digital mortgage advisory services? Send us a note at [email protected]

Falcon Digital Mortgage August Newsletter

RON is Heating Up

RON has been getting a lot of attention the past few weeks. At the end of last month, the House officially passed the Securing and Enabling Commerce Using Remote and Electronic Notarization (SECURE) Act which creates federal minimum standards to allow notaries nationwide to perform RON transactions. Around the same time, the Wall Street Journal also ran an article on how mainstream this type of closing has become.

As of today, RON is allowed in 43 states, up from 22 at the outset of the pandemic and in Delaware, Massachusetts and Washington D.C. there are RON-related bills close to becoming law.

If the SECURE Act becomes federal law, and most observers believe it will, this will give significant relief to homeowners and buyers by allowing immediate, nationwide use of RON technology and making digital closings much easier.

The legislation has garnered much support from industry associations including the Mortgage Bankers Association (MBA), American Land Title Association (ALTA) and the National Associations of REALTORS® (NAR).

– Armando

 

Mid-Year eUpdate

We are more than halfway through 2022 and despite the market slowdown, digital adoption is still growing. Check out our summary of some of the biggest developments in the digital mortgage space so far this year.

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People on the Move

eMortgage expert and veteran, Carmelo Bramante, is the new Senior Policy Advisor at Ginnie Mae. Bramante will be working on the agency’s Modernization initiatives, such as The Digital Collateral Program. Prior to joining Ginnie, Bramante was with Navy Federal Credit Union for 9 years as the Manager of Regulatory Compliance and Public Policy.

 

 

 

MISMO Seeks Public Comment on eMortgage Resources

MISMO is seeking public comment on three key industry resources — The MIMSO Business Glossary, The eMortgage Glossary and the eModification Reference flyer– to help
accelerate the industry’s digital transformation. Comments for the Business Glossary are due by 9/5; comments for the eMortgage Glossary are due by 10/4, and comments for the eModification Flyer are due by 10/4. Comments should be sent directly to [email protected].

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Industry Veteran Walter Allen Joins Falcon

We’re excited to announce that Walter Allen has joined Falcon Capital Advisors as Managing Director. In this role, Allen will be responsible for business development across Falcon’s major practice areas: financial institutions and government advisory services and our eMortgage
consulting practice. Welcome to the team, Walter!

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Community Bank Now Offering Hybrid Closings

OSB Community Bank, an Illinois- based bank, is now using SimpleNexus’ Nexus Closing to support hybrid closings. The bank will use the tools from SimpleNexus to facilitate a “from anywhere” borrower experience from application to closing.

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Upcoming Events

It’s almost that time — Fall Conference Season! Next month, Falcon will be attending:
MBA Risk Management, Quality Assurance and Fraud Prevention Forum 9/11-9/13 National Mortgage News’ Digital Mortgage Conference 9/13-9/15
MISMO Fall Summit 9/25-9/29

Contact [email protected] to set up a meeting. See you there!

 

 

Have an eMortgage related news item you want to share? Want to make sure you and your team are on our distribution list? Have a question about Falcon’s digital mortgage advisory services? Send us a note at [email protected]

Falcon Digital Mortgage July Newsletter

Tipping Point for eMortgage Adoption?

I recently came across a study in the latest issue of the Journal of Structured Finance by MBA Chief Economist Mike Fratantoni about the acceleration of eMortgage adoption. The study looks at the jump in eMortgage adoption over the past few years, specifically fueled by the pandemic, and why the market may currently be at a tipping point moving toward a period of more rapid adoption.

Some key findings of the study show that while eMortgages are likely to result in lower costs and a faster process, cost advantages alone have not been sufficient enough to spur adoption.

“Mortgage industry participants should begin to consider the implications of this technological change. With more widespread adoption, multiple aspects of the mortgage process will accelerate, likely shortening application-closing and closing-sale time frames. Although it may not be business imperative to be able to handle eMortgages today, it may well be soon. As has been seen with other episodes of technology adoption in the financial world, once the ground shifts, it can shift further quickly.”

So what is holding lenders back from adopting digital solutions? I discuss some of these obstacles in my latest HousingWire Q&A (featured below). As always, our team of digital experts are here to field any questions you have about how to start or further your company’s digital journey.

-Armando

Guaranteed Rate Launches End-to-End, Digital, Fixed-Rate HELOC

Guaranteed Rate launched a new fixed-rate digital HELOC designed to help homeowners quickly access their equity through an end-to-end digital platform. A timely solution considering homeowners gained a whopping 35% in equity in 2021, resulting in more homeowners choosing to tap their home’s value to pay off high-interest debt or fund home improvement projects without affecting their home’s low mortgage rate.

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The Obstacles to a Digital Mortgage are Changing

There’s no question that a digital-first way of doing business is becoming the norm and the demand for digital in the mortgage industry is only growing. HousingWire recently spoke with our C E O Armando Falcon about the continued growth of digital mortgage solutions such as eClosings and what lenders can do to implement eMortgages into their business models.

 

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Can Digital Closings Help with Housing Affordability?

ALTA CEO Diane Tomb believes so. In a recent HousingWire article, Tomb said: “With revenue tightening and volume slowing, it is becoming increasingly important for companies to adjust costs. As a result, lenders and title companies are seeking ways to invest and implement solutions that will further streamline operations, grow market share, remain competitive, and improve borrower experience while providing increased ROI. One avenue to reduce cost and streamline the closing process is to offer digital closings.” To help drive the adoption of digital closings, ALTA partnered with MISMO to be the sole provider of title and settlement agent data for the MISMO e-Eligibility Exchange, powered by Snapdocs. The e-Eligibility Exchange serves as a central source of information on the criteria that impact digital closings.

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RON Updates

Two more states have passed RON legislation — North Carolina and Delaware — bringing the total number of states with RON legislation to 41 and SoftPro has just released a new product that has both eSign and RON functionality. So, what’s on the horizon for RON? It’s unclear, especially as we wait for Congress to enact legislation that would permit RON nationwide. However, according to Savvy, there are still some remaining obstacles that stand in the way of full adoption, including lack of awareness, regulatory acceptance, and training/education.

 

 

Former Head of FHFA Mark Calabria Joins Evolve’s Advisory Board

Mark Calabria, the former Director of the FHFA from 2019-2021, has just joined Evolve Mortgage Services‘ advisory board. Commenting on the news, Evolve CEO Paul Anselmo
said: “Mark has impressed us with his business acumen, the caliber of achievements, and invaluable expertise. The vast array of talent and knowledge Calabria brings will help accelerate our growth and expand our digital footprint as we continue to evolve our solutions to change the way loans are bought and sold in the marketplace.”

 

 

Have an eMortgage related news item you want to share? Want to make sure you and your team are on our distribution list? Have a question about Falcon’s digital mortgage advisory services? Send us a note at [email protected]