“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.

LEARN MORE

 

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!

LEARN MORE

 

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

 


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]


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10.26.21 – Update: New Date for HUD-Held Vacant Loan Sale 2022-1 (“HVLS 2022-1”) – Now December 1, 2021.

09/21/2021

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 View

04/20/2022

"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. LEARN MORE  

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! LEARN MORE  

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  
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]

Falcon Digital Mortgage View

03/16/2022

"To Measure is to Know" - Lord Kelvin

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. The bottom line is that with an eClosing solution in place lenders can close loans faster with fewer errors and save more money than with an in-person or legacy paper process. These studies are an important step for our industry, and something we look forward to helping our clients understand. - Armando

Wolters Kluwer Acquires IDS

Wolters Kluwer recently announced the acquisition of IDS. IDS will become part of Wolter Kluwer's Governance, Risk, and Compliance Group, a leading provider of compliance software for U.S. banks, lenders, credit unions, insurers, and securities firms. The acquisition further builds out Wolters Kluwer's presence in the eClosing space. At the end of 2020, the company also acquired eOriginal. LEARN MORE

MISMO Looking to Create Standards for eVaults

MISMO has issued a call for participants for its new development workgroup (DWG) focused on creating eVault standards that improve the current process, enhance digital mortgage scalability and help ensure the seamless transfer of eNotes to facilitate their sale to investors. The new eVault Standards DWG will work with industry participants, government agencies, and other stakeholders to create a single set of standards to streamline eVault operations. LEARN MORE

Your MERS Annual Report is Coming

It's never too early to start planning for your MERS Annual Report. Although it is not due until December 31, MERS servicers can submit the Annual Report beginning in June. Falcon Capital Advisors is one of a handful of approved Annual Report third-party review firms. We can schedule our review of your organization's MERS policies and procedures to occur any time in the year and then work with you during the submission window to submit your Annual Report to MERS. Contact us at [email protected] to get started. CONTACT US

Servicers Going Digital with eModification

In a recent interview with DS News, Tim Anderson, the President of Evolve Mortgage Services' eMortgage Division discusses the benefits of eModification for servicers. Anderson said, "With an eModification, the entire loan modification process - including notarizing the new loan - can all be done online. An eModification enables servicers to process loan modifications more quickly and easily than they would under traditional, antiquated, paper-based processes." LEARN MORE

Snapdocs First to Achieve MISMO Certification for eClosing System

Snapdocs’ eClosing platform, procedures, and policies have been certified as compliant with MISMO's requirements. Snapdocs is the first, and at the moment only, eClosing provider to achieve this certification from MISMO. LEARN MORE

New Hampshire Completes First RON eClosing

Summit Title just completed the first RON eClosing in the state of New Hampshire. As consumers are increasingly demanding fully remote access to facilitate loans and mortgages, states are establishing or expanding RON measures, New Hampshire passed RON into law last year. Summit used Stavvy's digital closing and RON tools. LEARN MORE