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 copies of such records, and information about them, to/from other eVaults. Having a single set of standards for the mortgage industry will help to ensure interoperability among different eVault providers and serve as baseline requirements that can be leveraged by investors and other interested parties when evaluating eVaults, as well as by technology providers when developing them.

What are some examples of things that might be addressed by the planned eVault standards?
• The eVault standards are intended to cover the functionality, features, and security aspects of eVaults. One such item planned for consideration by the DWG is a set of rules for the validation of SMART Doc eNotes sent and received between eVaults.

Who is participating in the eVault Standards DWG?
• The DWG is open for participation by all MISMO members. It currently consists of representatives from mortgage lenders, the GSEs, Ginnie Mae, the Federal Home Loan Banks, and technology providers.

How can one participate in the eVault Standards DWG?
• MISMO members can sign up for the DWG via MISMO Connect. It currently meets on the second and fourth Wednesday of each month from 11 am – 12 pm ET. The next meeting is on May 25th.

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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 December Newsletter
12/06/2022

What a year! We started relatively strong, coming off the best year ever in terms of originations. But as we all know, interest rates doubled over the course of the year causing a precipitous drop in volume, which in turn stalled the real estate market.

How the Caps on DTI, LTV and Credit Score Impact Homebuyers and Shift Credit Risk to other Federal Mortgage Programs
03/26/2021

BACKGROUND: On January 14, 2021, the Treasury Department and the Federal Housing Finance Agency (FHFA) amended the GSE’s Senior Preferred Stock Purchase Agreements (SPSPAs), which shape the terms in which Treasury supports Fannie Mae and Freddie Mac. This analysis looks at how the caps on the GSE’s “Acquisition of Certain Loans” can disproportionately impact homebuyers. […]