FHFA Request For Input on the Enterprises’ Single-Family Pricing Framework

An opportunity to advocate for eMortgages presented itself in May when the FHFA issued a Request for Input (RFI) on the Enterprises’ Single-Family Pricing Framework and how it can enhance FHFA’s ability to ensure that the Enterprises fulfill their mission. We saw the connection of this RFI to eMortgages and moved to coordinate a collective industry response.

On August 14th we submitted a response urging the FHFA and the Enterprises to continue to lead the market on eMortgage innovation and incentivize their adoption by reducing the upfront and/or ongoing guarantee fees for loans originated and delivered to the Enterprises as eMortgages.

With many of you supporting as co-signers our RFI response laid out the rationale for why widespread eMortgage adoption would help the Enterprises reduce their risk profile and capital requirements, and advance their mission- related goals, specifically in the areas of affordable housing, market liquidity, process efficiency, innovation, and environmental, social, and governance (ESG).

My hope is that at a minimum this collective industry response will lead to greater dialogue and out-of-the box thinking for how we can accelerate digital transformation within our industry for the benefit of all. Thank you for coming along side us and continuing to advocate for eMortgages

Please see the following link to view the submission:

FHFA RFI Submission_eMortgages

-Armando


Startup Stavvy Acquires Mortgage Servicing Rival Brace

Stavvy, a fintech company specializing in digital and remote collaboration for lending and real estate companies, and Brace, a digital mortgage servicing platform will offer a collective solution that empowers homeowners with self-service capabilities encompassing every critical stage of default servicing.

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Vendor News

Propel™ by Asurity® has integrated their document generation solution with NotaryCam’s® remote online notarization (RON) services and eClosing technologyLEARN MORE

Snapdocs has launched Connected Closings, an integration between the Snapdocs Digital Closing and Notary Scheduling platforms.LEARN MORE

Digital mortgage platform SimpleNexus has integrated with Finastra’s loan origination system, MortgagebotLOS.
LEARN MORE

INDUSTRY COMMENTARY AND EDUCATION

Why Is Your eClose Technology Investment Not Paying Off?

Docutech recently posted a blog that emphasized the importance of making eClosing the default way to close in order to maximize your investment.

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Time to Double Down on the Consumer Experience.

Matthew Woodhouse from ServiceLink discusses the importance of enhancing the borrower experience through technology, transparency, and education through the lens of their 2023 ServiceLink State of Homebuying Report (SOHBR).

LEARN MORE


Falcon CDFI Practice

On July 27, 2023, our CDFI Advisory practice offered a webinar entitled, “CDFI 101 for Non-Bank Mortgage Lenders.” The presentation reviewed current and expected rules and regulations that govern the space and offered important considerations for anyone in the mortgage industry looking to learn more about the CDFI model. To learn more and view the presentation, click here.

Our Services

CDFIs. FCA will help you prepare your CDFI Certification Application and provide everything you need to get your CDFI off the ground, from navigating the regulatory process, to setting up your lending platform with tools and best practices. For those seeking to do business with CDFIs, we vet candidates and advise on best practices.

  • Manage the CDFI Certification Process
  • Provide a federal compliance cloud-based compliance system
  • Develop lending policies
  • Advise on mortgage lending
  • Perform risk analysis of CDFI relationships for banks, investors, and donors
  • Advise on the FHLB membership process

Contact Jim Voth at [email protected] to learn more.


Join Our Webinar

MERS® Annual Report & Third-Party Review Process. Learn how to remain compliant with MERS® System requirements with Falcon experts.

September 7th, at 3pm ET.

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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]


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Falcon Digital Mortgage View

03/16/2022

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.

Ask Us Anything About Digital Mortgage Closings

04/21/2020

Got Digital Mortgage Closing questions? We've got answers...

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.