Ginnie Mae on what’s next for the digital mortgage
Today’s Mortgage Desk segment of HousingWire Daily features an interview with Angel Hernandez, Ginnie Mae director of MBS policy and program development.
Ginnie Mae recently began accepting eNotes, and even guaranteed its first digital pool of mortgage backed securities, made possible by its ongoing Digital Collateral Program.
This new focus on digital at Ginnie Mae could have major consequences for the housing market. The company said it expects to see escalating levels of growth in the volume of eNotes securitized under its MBS Program for 2021. And Rocket Mortgage, which has originated the first eNotes under Ginnie Mae’s pilot program, agreed that the housing industry will soon see higher adoption rates of the digital mortgage, saying the program could even become much more popular by the end of 2021.
Here is a small preview of today’s interview. The transcript below has been lightly edited for length and clarity:
Kelsey Ramírez: What is the value added to the housing market of Ginnie Mae’s digital efforts, including its acceptance of eNotes?
Angel Hernandez: What the ultimate objective would be, and what impact this would have in the industry overall as it stands today, I think our digital efforts really do enable our industry to make a significant leap forward into the creation of a digital mortgage ecosystem – something that I think quite a few of us have been after for a very long time. And this is an ecosystem that really takes the experience from a borrower’s loan application all the way to securitization – one that is capable of increasing efficiencies and reducing costs. Throughout the loan’s lifecycle, an ecosystem that we believe can increase access to credit and overall enhance the safety and soundness in our industry segment.
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