Falcon Digital Mortgage August 2024 Newsletter

MISMO Fall Summit

The MISMO Fall Summit is just around the corner. This year’s summit will be held in Reston, VA from August 26th to 29th and Falcon Capital Advisors is proud to be a Gold Sponsor. For those planning to attend, we invite you to the evening reception Falcon is sponsoring on Monday, August 26th, at 5pm. Our MISMO- certified consultants will be onsite throughout the four-day conference, available to discuss your MISMO and digital mortgage needs.

Please reach out to Tim Renner at [email protected] to schedule a time to connect, or simply find us at the Monday reception. We would love to meet you face-to-face and explore how we can support your digital mortgage initiatives.

 

 

 

Industry News

Private Label eNote Securitization by Rocket

The RCKT Mortgage Trust 2024-INV1 deal, featuring 27.9% electronic promissory notes, marks a significant step toward broader

eNote adoption in private-label RMBS, driven by Rocket’s influential role. This move reflects growing market acceptance, supported by legal validations and infrastructure advances, and could lead to more eNote heavy securitizations.

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KeyBank Enhances Digital Home Lending with Automated Verification

KeyBank has introduced a digital enhancement to automate the verification of borrowers’ income, assets, and employment, simplifying the loan process and enabling faster closing times.

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Mr. Cooper acquires Flagstar MSRs and TPO platform

Mr. Cooper Group is set to acquire a third-party origination platform and $356 billion in mortgage servicing rights from Flagstar Bank for $1.4 billion, adding 1.3 million customers.

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Industry Commentary and Education

Transforming Mortgage Staffing with Technology-Driven Efficiency

The mortgage origination industry has traditionally adjusted staffing based on volume, but new technology allows for a more efficient approach. By thoughtfully implementing automation and simplifying processes, lenders can reduce the need for cyclical hiring and layoffs, making operations more scalable and adaptable.

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Industry Conferences and Webinars

MISMO Fall Summit | August 26-29, 2024

MBA Compliance and Risk Management Conference | September 22-24, 2024

MBA Annual Convention | October 27-30, 2024

Please contact us if you have an event you would like to be included here.

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Brief Takeaways from MISMO’s Winter Summit By Tim Cooper, Manager, Digital Practice
02/08/2022

The U.S. Department of Housing and Urban Development (“HUD”) has announced an update to the date for the upcoming HUD-Held Vacant Loan Sale (“HVLS 2022-1”). The new date for this sale is now December 1, 2021, which replaces the previous sale date of November 10, 2021.

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.

For prospective bidders to this sale, please refer to the section on this webpage entitled, For Prospective HUD Asset Sale Bidders, to become a qualified bidder and receive the Bidder Information Package for HVLS 2022-1.

Falcon Digital Mortgage March 2024 Newsletter
03/27/2024

Welcome to the latest edition of the Falcon Digital Mortgage View. This month we spotlight recent movement in the digital mortgage technology space, federal housing agencies partnering with MISMO on a new standardization initiative, and insights from Forbes on AI technology’s impact on mortgage lending. A quick reminder that it’s time for servicers to start […]

2022: Mid-Year eUpdates
08/17/2022

A look back at some of the biggest developments in the digital mortgage space so far this year.