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.



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].



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!



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.


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]

Explore More

Falcon Digital Mortgage November Newsletter


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.

Falcon Digital Mortgage July Newsletter


I recently came across a study in the latest issue of theJournal 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.

Falcon Digital Mortgage View


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.