MISMO Fall Summit
Last month, Falcon Capital Advisors attended the MISMO Winter Summit in Miramar Beach, Florida. Jim Voth, managing director of Falcon’s digital mortgage practice, led a panel on the current state of mortgage industry eClose adoption. He was joined by representatives from US Bank, Mr. Cooper, NotaryLive, and ICE Mortgage Technology, with Snapdocs also contributing. The panel, which brought together perspectives and insights of an originator, aggregator, consulting firm, and technology providers, discussed trends from the past few years as well as projections for the future.
Expansion of aggregator readiness and increased eClose utilization among organizations that have already adopted are drivers of increased industry-wide eClose adoption, with currently 9% of mortgage loan originations consisting of eNotes. Snapdocs forecasts an annual eNote adoption growth rate of approximately 35% over the next several years, which would bring industry adoption close to 30% by 2028. Falcon is optimistic that current eClose momentum will be sustained based on early returns in 2025.
Whether you’re considering adopting or have made the transition and are struggling to scale, Falcon can help with everything from technology review and selection to process reengineering, implementation, training, and more.
Industry News
ProNotary Expands RON Technology to
Three More States
Remote online notarization (RON) provider, ProNotary has
expanded its services to Montana, Iowa, and Missouri. Notaries and businesses in these states will now be able to use the ProNotary platform to conduct RON transactions.
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Blend Labs Partners with PHH Mortgage for Enhanced Loan Operations
Blend Labs has partnered with PHH Mortgage to streamline home lending operations using its Mortgage Suite solution, including tools like Blend Close for digital closings. This partnership aims to automate workflows, reduce loan cycle times, and enhance borrower experiences.
Mr. Cooper Boosts Refinancing Efficiency with Remote Online Notarization
In 2024, Mr. Cooper utilized remote online notarization (RON) for approximately 25% of its refinances says Eric Armstrong, SVP of Enterprise Program Management. The emphasis on RON yielded a number of benefits including streamlining operations, enhancing customer satisfaction, reducing closing times, and minimizing signing errors.
Old Republic Title Partners with Qualia, Sells Ramquest and eClosing Platform
Old Republic Title is selling its Ramquest title production business and eClosing platform to Qualia Labs as part of a strategic partnership. The move aims to enhance technological innovation and efficiency in title production, leveraging Qualia’s expertise while maintaining Old Republic’s leadership in the industry.
Industry Commentary and Education
Advancing Mortgage Digitalization: Beyond Integration to Innovation
The mortgage industry is embracing technology-driven differentiation, requiring lenders to adopt modular, API-driven architectures for flexibility and innovation. Custom integrations are costly and pose challenges. To stay competitive, lenders must map their current tech stack, define strategic priorities, and choose between incremental or all-at-once upgrades.
