In its continued path toward greater digitization, Ginnie Mae backed its first pool of mortgages made up of eNotes.
Hi title world,
The digital revolution for the mortgage industry continues as Ginnie Mae continues to take new leaps forward. This past week, Ginnie guaranteed its first digital MBS, which contained about $24 million in eNotes originated by none other than Rocket Mortgage.
Ginnie Mae said it expects to see escalating levels of growth in the volume of eNotes securitized under its MBS Program for 2021. And Rocket told me the same thing in an interview late last year - that's positive news for those rooting for more eClosings.
In a podcast this week, I will be talking to Ginnie about the latest updates to its mission to digitize. I'll ask about how far they've come and what's coming next. Stay tuned to next week's email for more on that!
Kelsey Ramírez
HousingWire Senior Financial Reporter
P.S. This is the last email I'll be sending for a while - I have a little one scheduled to arrive on Wednesday. But don't worry, our dedicated team here at HousingWire will take over these emails and continue to bring you the latest news from the title and escrow front. Wish me luck and I'll be back soon!
This year, eClosings rose significantly in popularity amid increased technology acceptance and COVID-19 concerns that kept many borrowers from being able to close their mortgage in person.
Old Republic International Corp. reported positive earnings overall for 2020, but this came despite a decrease in general earned premiums that the company attributes to COVID-19 and remote working.
The low interest rates this year have led to increased revenue and high loan volumes. Unfortunately, the threat of wire and title fraud risk has also increased. Working with FundingShield tools can help prevent these issues while increasing overall production and cutting costs, leading to higher profits. Presented by FundingShield
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