Industry Briefs Aug. 23, 2023

Federal Agencies Still Providing Mortgage Assistance for Those Impacted by Maui Fires

The Government National Mortgage Association (Ginnie Mae), Federal Housing Administration, Federal Housing Finance Agency, United States Department of Agriculture and United States Department of Veterans Affairs released a joint notice Aug. 18 reminding those impacted by the Maui, Hawaii, wildfires of mortgage assistance services.

“As fire suppression and search and rescue efforts continue, federal housing agencies are engaging with state officials and local partners, and in interagency efforts, to monitor the impact to households and the housing sector and ensure awareness of available disaster assistance for homeowners,” the statement said.

“We are committed to providing homeowners flexibilities and assistance so they feel the security of knowing they will have the option to return and rebuild when it is safe to do so. This community will need all the support it can get, including federal aid and private sector involvement. FHFA through Fannie Mae and Freddie Mac, Department of Veterans Affairs, USDA, Ginnie Mae and FHA have tools to help lenders, servicers and issuers meet the needs of homeowners in this difficult time. Additionally, USDA and HUD are working to provide assistance and resources to tenants who have been displaced in federally assisted multifamily rental homes, as well as impacted owners and operators,” it continued.

Propel by Asurity Partners With NotaryCam

Asurity Technologies, Washington, D.C., announced its mortgage document generation platform, Propel, is integrated with NotaryCam, Newport Beach, Calif., which provides remote online notarization and eClosing technology.

The companies say the integration will help in reducing turn-times as well as the costs associated with loan modifications, and diminish the need for overnight shipping of documents.

Cenlar Outpaces Industry Standard on Digital Adoption Rates    

Mortgage loan subservicer Cenlar FSB, Ewing, N.J., announced it is outpacing the industry standard on digital adoption across every measurable metric, according to the Mortgage Bankers Association 2023 Servicing Operations Study and Forum.

The key metrics used within the study included: website/mobile app registration, self-service payments, automated payments and paperless adoption.

For example, the study reveals that 81% of Cenlar’s loans have registered through the homeowner website or the mobile app in June 2023, above the industry average of 78.2% for June 2022.

Additionally, Cenlar loans enrolled in autopay for the end of Q2 were 47% versus the average of 36%. Self-service digital payments reached 93% compared with the industry’s standard of 85%.

CWDL Partners Invest in Firstline Compliance

Firstline Compliance, Flower Mound, Texas, announced  Mark Wilson, Managing Partner, and Dustin Pfluger, Partner and Mortgage Banking Practice Leader, at mortgage banking audit, accounting and tax specialists CWDL, made a significant strategic investment.

The new investors join Troy Garris, Co-Managing Partner of Garris Horn LLP, and Josh Weinberg, President of Firstline Compliance.

CWDL, Firstline Compliance and Garris Horn continue to be separate entities and maintain distinct branding and leadership structures.