More eNote Opportunities

Lenders, if you think the GSEs are your only viable outlet for the sale of eNotes…think again. This was the key takeaway from the “eNote Outlets Beyond the GSEs” panel at the recent MISMO Winter Summit. The panel, moderated by our Senior Manager, Tim Renner, featured Lynne Chandler of Ginnie Mae, Mike May of FHLB Pittsburgh, Brian Pannell of DocMagic, and Leah Price of Figure Lending/DART. Among the topics discussed by the panelists was the tremendous growth over the past 2 -3 years of the eNote landscape.

The Ginnie Mae Digital Collateral Program is up to 15 eIssuer participants who have securitized more than $18 billion in eNotes, there are now 8 FHLBs accepting eNotes as pledged collateral, and an increasing number of credit unions, warehouse lenders, aggregators, and servicers are incorporating eNotes into their business processes. The operational efficiencies gained, mitigation of risks, and the cost savings all associated with eNotes and other digital loan products are maximized when organizations can digitize as much of their origination volume as possible. Let’s hope the word is beginning to spread that the opportunity to digitize is there and lenders just need to seize the opportunity. – Armando


The Benefits of eNotes

Security? Check. Speed? Check. Efficiency? Check. eNotes – the digital equivalent to the promissory note during closing – are integral to a digital closing process and are quickly replacing their paper counterparts. But why? Check out Blend’s overview of the benefits of using eNotes



New Survey Shows 60% of Respondents Believe That Using Technology Will Expedite the Loan Process

Wolters Kluwer surveyed 100 lenders and found that 47% used closing technology. According to the new survey, lenders are still hesitant about closing technology. However, 60% of respondents believed that using technology will expedite the loan process. Of the digital solutions implemented by the respondents, 46% said they use eSignatures, nearly 40% said RON, and 27% use an eVault. Commenting on the results of the survey, Wolters Kluwer’s Kevin Wilzbach said: “The industry as a whole needs to be more evangelical about explaining the benefits of digital closings. We also need to do a better job in terms of articulating the value of digital lending by defining it in terms of the overall consumer experience.”




New Leadership at MISMO

Congratulations are in order for both Seth Appleton and Jan Davis. Appleton, MISMO’s former President will now be the   President of U.S. Mortgage Insurers. Davis, MISMO’s long-time VP of Operations, will assume the role as acting President until the position is filled.


Vendor & Integration News

Flueid recently announced a new partnership with Notarize to make RON data and services accessible through the Flueid Decision platform. Flueid lenders and title customers can now check eClosing and eRecording availability within Flueid Decision.

Indecomm has significantly expanded the number of jurisdictions where it offers its eRecording services, bringing the total number to 1,900. By enhancing its eRecording capabilities, Indecomm drastically reduces document recording turnaround times for its lender and title company clients.

Last month, Coastal Credit Union completed its first fully digital eClosing with RON in North Carolina within two weeks of fully implementing DocMagic’s Total eClose solution.




Security & eClosings

Since the first discussions about eClosing, remote online notarizations (RONs), eMortgages, and similar digital closing tools, have been held up as being more secure than paper transactions. Many settlement services providers have felt confident in touting these products, lobbying legislators and regulators for their use and encouraging other industry members to get on board. But what makes these transactions secure, and how can we play a part in ensuring their security?



Upcoming Events

The Falcon team will be at ICE Experience 2023 2/27 – 3/1. Contact Tim Renner to schedule a meeting.


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

2022 Year in Review


Take a look back at some of the biggest developments in the digital mortgage space in 2022.

Jim Voth of Falcon Capital Advisors on Digital Mortgage Adoption


Jim Voth leads the Digital Mortgage practice at Falcon Capital Advisors, Washington, D.C., where he manages digital transformation engagements for GSE, government, and banking clients. He can be reached at [email protected] Q: Conventional wisdom is that digital mortgages thrive in a refinance environment, and less so in a purchase market. Is this in fact the […]

Brief Takeaways from MISMO’s Winter Summit By Tim Cooper, Manager, Digital Practice


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.