MISMO’s recent Winter Summit in Clearwater, FL attracted a like number of in-person and virtual attendees: 154 vs. 154. (Full disclosure: I was scheduled to go but at the last minute tested positive and had to go virtually)

Based on the sessions I attended, the overall mood of the conference was upbeat. There was a fair amount of discussion about new people coming into the digital mortgage sector and generally positive outlooks of increased adoption in the new year. For the first time since the pandemic began, representatives from the GSEs were able to attend in person, and they reiterated their goal of keeping everyone focused on the digital mortgage initiatives.

In terms of new technology, the community saw a demo of a new eVault validation tool for eNotes. The project, which was funded by MISMO, was well received by the attendees who felt it will help address interoperability issues.

An update was given on the status of the approval of MISMO version 3, the expectation among the MISMO community was that the doc form would be fully approved by Q2 and most likely would initially be used on other document types besides eNote: for example, closing estimates, appraisal forms, HELOC agreements.

From a government news perspective, Lynne Chandler of Ginnie Mae discussed the investors new APM on eModifications of paper notes.


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FHFA Credit Initiative: Five Areas of Lender Impact

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  DOWNLOAD PDF For additional information on how Falcon Capital Advisors can support your advocacy and transition contact Phil Bracken at [email protected] or Jim Voth at [email protected].

Falcon Digital Mortgage View

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“Leadership is the art of seeing the invisible” – Jonathan Swift I was thinking of that quote the other day as I was reading about the recent blockchain transaction between Figure Lending and Apollo. To me, the nature of the eNote mortgages on-boarded as unique digital assets and the use of blockchain in their transfer […]

09.16.21 – Announcing the HUD-Held Vacant Loan Sale 2022-1 (“HVLS 2022-1”).

09/15/2021

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.