The implementation of electronic signature technology that has led to 75% to 95% closed loan ratios for online mortgages at Guaranty Bank was a centerpiece at Saturday's eLynx user conference held in Phoenix, just prior to the 2004 MBA national technology show.The uSign automation, which was built in compliance with the Uniform Electronic Transactions Act and the Electronic Signatures in Global and National Commerce Act, was designed to deliver disclosure packages and other loan documents online without incurring mail and courier fees or experiencing delays in receiving signed documents. Powered by Silanis, the technology allows borrowers to view documents at their convenience before signing electronically. eLynx first introduced its uSign electronic signature technology at the 2003 MBA Tech conference. In 2003, some 20% of the Guaranty Banks's total loan origination volume was sourced to the Internet. To increase its percentage of online business - and the closed loan rate for Internet borrowers - Guaranty began using uSign in December 2003 at its mortgage company, Guaranty Mortgage.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18