Industry Briefs July 28, 2021

NotaryCam Partners with RUTH RUHL PC, Adds RON to Loss Mitigation Services

NotaryCam, Newport Beach, Calif., partnered with RUTH RUHL P.C., a Texas-based law firm, to add security and automation to the firm’s loss mitigation services through remote online notarization.

RUTH RUHL P.C. works with mortgage servicers and subservicers in all 50 states to provide state and federally compliant loss mitigation document preparation services. Using NotaryCam’s RON platform, RUTH RUHL will provide its clients with a secure eSign and eNotary process that improves efficiency and reduces risk of fraud.

NotaryCam engages multiple forms of identity authentication and verification methods and provides audio and video recording of each notarization. NotaryCam’s platform also allows multiple parties to join the signing ceremony in person or from anywhere in the world and is supported by a robust, nationwide network of trained eNotaries available 24/7/365.

HUD Makes $19 Million Available to Fight Housing Discrimination

HUD announced it is making $19.4 million available to help HUD Fair Housing Initiatives Program agencies conduct activities that will address discriminatory housing practices related to the COVID-19 pandemic.

The funds, which are provided through the American Rescue Plan Act of 2021, will allow private fair housing enforcement organizations to respond to fair housing inquires and complaints, conduct fair housing testing, and implement education and outreach activities related to the COVID-19 pandemic. Funds will also be used to address fair housing issues affecting individuals and families experiencing housing instability, including those who may face displacement due to discriminatory evictions and foreclosures. 

Applications must be received by August 18.

Sales Boomerang releases Q2 2021 Mortgage Market Opportunities Report

Sales Boomerang, Washington, D.C., released its inaugural Mortgage Market Opportunities Report. According to the report, refinance opportunities continue to dominate the market, but a promising uptick in new listings was also evident in the Q2 data.

The Mortgage Market Opportunities Report draws on Sales Boomerang system data to identify market opportunities of relevance to today’s borrowers and lenders. To generate the report, Sales Boomerang reviewed data from more than 125 residential mortgage lenders that use its borrower intelligence and retention tools to monitor millions of customer and prospect records.

“Industry experts have been pushing the idea that the refinance market has dried up since early 2021, but our data shows that plenty of borrowers still have the opportunity to improve their rates,” said Sales Boomerang CEO Alex Kutsishin. “Meanwhile, the housing inventory shortages that have stymied the purchase market’s potential may finally be turning a corner, as our customers saw significant gains in new listings in Q2.”

Tavant Launches Touchless Mortgage

Tavant, Santa Clara, Calif., announced availability of its new Touchless Mortgage platform. This AI-powered lending-as-a-service platform maximizes use of data-driven processes to provide an end-to-end loan manufacturing experience. Touchless Mortgage will enable lenders to originate more mortgages faster, while also reducing costs.

Loan officers, processors and underwriters can use Touchless Mortgage’s optimized workflows to engage with data and make decisions faster, instead of relying on physical documentation and manual data entry. Touchless Mortgage integrates with existing systems, including the LOS, and automates loan production.

Redfin: One in Three Remain Interested in Relocating

Redfin, Seattle, said nationwide, 31.1% of users looked to move to a different metro in the second quarter, up from 27.6% during the same time last year.

Movement from one part of the country to another started rising with the onset of the coronavirus pandemic as remote work allowed homebuyers to prioritize affordability and living near family and friends above proximity to the office. Though the share of users searching outside their home metro slipped slightly from the first quarter to the second quarter, it is still well above pre-pandemic levels.

“Some pandemic trends are here to stay, and moving to a more affordable part of the country is part of the new normal,” said Redfin Chief Economist Daryl Fairweather.

Phoenix, Las Vegas, Sacramento, Miami and Tampa were the most popular migration destinations of any major metros in the U.S. in the second quarter. Meanwhile, more users moved away from New York, San Francisco, Los Angeles, Washington, D.C. and Denver than any other metro area in the second quarter.

The report can be accessed here.  

Ginnie Mae Enhances Platinum Data Disclosure

Ginnie Mae, Washington, D.C., enhanced data disclosure for its Platinum securities to provide investors with information that supports their sustainable investing decisions and solutions. The new environmental, social and governance data provide investors with Platinum pool level aggregate information about the extent of UPB dollars that are in low- and moderate-income areas.

Ginnie Mae Platinum securities are formed when investors combine multiple smaller dollar value, less-liquid MBS into a larger, single new Platinum security, which increases asset liquidity and operational efficiency while reducing administrative cost.

ATTOM Integrates Transportation Noise Data in Property Data Warehouse

ATTOM, Irvine, Calif., integrated transportation noise data into its U.S. property data warehouse, expanding the ATTOM Table of Data Elements with another layer of details to enhance property valuations and deliver insights into the housing market.

ATTOM’s transportation noise data feature noise scores for roads, highways, airports, railroads, railroad crossings and hospital/fire vehicle stations. Also included are noise source names and distances where appropriate. Spanning the nation, noise data can be pinpointed and located via latitude/longitude or down to the address level.

Black Knight: 1.86 Million Remain in Forbearance Programs

Black Knight, Jacksonville, Fla., reported a 2,000-increase in active forbearance plans over the past seven days, leaving volumes essentially flat for the second week in a row.  As of July 20, 1.86 million borrowers remain in COVID-19 forbearance plans, making up 3.5% of all active mortgages and 2.1% of GSE, 6.2% of FHA/VA and 4.1% of Portfolio/PLS loans.

The report said weekly improvement among GSE forbearance plans (-8,000) was more than offset by a 9,000 rise among portfolio/PLS forbearances and 1,000 additional FHA plans.

Sales Boomerang Webinar July 28: Becoming Mortgage Category Kings & Queens

Sales Boomerang, Washington, D.C. will hold a webinar on Wednesday, July 28 on Becoming Mortgage Category Kings and Queens.

Don’t you want to know if you’re doing it right? Join Sales Boomerang in an unscripted chat LIVE with Christine Beckwith of 2020 Vision for Success Coaching, to discuss Becoming a Category King and Queen Lender. The webinar will discuss Marketing, Branding, Sales and more during these changing times and will also feature Sales Boomerang’s Alex Kutsishin and Pablo Troncoso. The webinar begins at 2:00 p.m. ET. For more information, click