Jim Voth leads the Digital Mortgage practice at Falcon Capital Advisors, Washington, D.C., where he manages digital transformation engagements for GSE, government, and banking clients. He can be reached at [email protected]. Q: Conventional wisdom is that digital mortgages thrive in a refinance environment, and less so in a purchase market. Is this in fact the […]
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 ROI. Everyone believes in the potential of digital – faster, cheaper, more efficient – but there’s been a lack of hard numbers to prove it – until now. Recently two different surveys, commissioned by Notarize and ICE respectively, drilled down into the benefits of eClosing solutions and put hard 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 2 days off the loan cycle using the company’s hybrid eClosing system.
The U.S. Department of Housing and Urban Development (“HUD”) has announced the latest HUD-Held Vacant Loan Sale (“HVLS 2022-1”).
On November 10, 2021, HUD will offer multiple residential mortgage pools consisting of approximately 1,700 notes and a loan balance of approximately $417 million.
The sale will consist of due and payable Secretary-Held loans. The loans are first liens secured by 1 to 4-unit, vacant residential properties where the last surviving borrower is deceased. This sale will include increased bidding opportunities for non-profit and state & local government purchasers.
Entities interested in participating can contact the Office of Asset Sales Single Family Transaction Specialist at 1-844-709-0763 or email [email protected] for more information.
