“Leadership is the art of seeing the invisible” – Jonathan Swift

I was thinking of that quote the other day as I was reading about the recent blockchain transaction between Figure Lending and Apollo. To me, the nature of the eNote mortgages on-boarded as unique digital assets and the use of blockchain in their transfer demonstrates that innovation is alive and well in the mortgage industry. This was also the case last Fall when Redwood Trust and Liquid did the first blockchain non-agency RMBS securitization.

Clearly, these leaders have seen and acted on something that the broader market is just beginning to recognize. In fact, the most recent Fannie Mae Mortgage Lender Sentiment Survey® (MLSS) found that only 25% of lenders said they were familiar with blockchain and its possible applications in the mortgage business.

Will blockchain transform the secondary market? Maybe in the long-term. But in the nearer-term, high-visibility deals like this one will make the private-label market more receptive to eNotes. – Armando


Digital Transformation Will Continue Despite Slowdown

Will a slowdown in the mortgage market result in lenders cutting back on tech investments? Not necessarily. Check out Jim Voth’s latest interview with MortgageOrb on why now is not the time to pause a digital transformation.

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People on the Move

Last month was a big month for leadership changes across the industry. Ginnie Mae named Sam Valverde Executive Vice President and Chief Operating Officer and Felecia Rotellini as Senior Advisor and Chief of Staff to the President.

Stavvy appointed Brooke Adams General Counsel and Chief Compliance Officer. Truist announced Dontá L. Wilson will now lead its Retail Community Banking and Marketing activities.

 

ICE Mortgage Creates eClose Ties with 3 POS Platforms

ICE Mortgage Technology has integrated with three leading point of sale vendors — Roostify, Maxwell and Floify — to allow for cross-platform operability for eClosings. Commenting on the integrations, ICE’s SVP of Business and Client Development, Parvesh Sahi said,
“We are making it easy for lenders to adopt automation and start gaining the competitive advantages that come with our eClose solution.”

 

New MERS eRegistry Participants

Last month 4 new members — 2 originators, an investor and an eVault provider — completed their integration with the MERS® eRegistry. The new members include Nova Financial & Investment Corp., Zillow Home Loans, Colorado Housing & Finance Authority and International Document Services, Inc. Congratulations to these innovators for joining the growing list of organizations that can transact eNotes across the mortgage ecosystem!

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eSigning Technology Enhancements

Qualia, a digital real estate closing platform, launched a series of new features and updates to its RON technology. Qualia RON is now available in Texas, Tennessee, Washington, Maryland, Utah and Nevada. Pavaso, a digital real estate closing technology company, has also updated its eSigning experience with new process improvements and an entirely new look and feel

 


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Q&A with Tim Renner, Co-Chair of the MISMO eVault Standards Development Workgroup

05/12/2022

What are the MISMO eVault Standards DWG? • The MISMO eVault Standards DWG is a development workgroup formed by MISMO to create mortgage industry standards for eVaults. Why are eVault Standards important to the mortgage industry? • Two primary functions of eVaults are to store electronic records such as eNotes and to send and receive […]

Falcon Digital Mortgage July Newsletter

07/28/2022

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 September Newsletter

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Earlier this month, our team attended the MISMO Fall Summit in D.C. Since it was held in D.C., government and agency attendance was high and the overall attendance was strong. The event kicked off with Ginnie Mae's President Alanna McCargo's opening address that discussed the agency's modernization, ESG and housing affordability efforts.