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Eye on the Industry: Updates on Fannie Mae, Ellie Mae, and More

From awards and recognition to technology and new appointments, get the latest buzz on the industry in this weekly update.

The Climate Bond Initiative, as part of the Third Annual Green Bond Pioneer Awards, recognized Fannie Mae as the 2017 Largest Issuer of Green Bonds in the world. The awards are a globally recognized symbol of innovation and achievement in green bond market development. In 2017, Fannie Mae issued $27.6 billion in Green Mortgage-Backed Securities (MBS) backed by either green building certified properties or properties targeting a reduction in energy or water consumption, up from $3.6 billion in 2016 and $111 million in 2015. The 2017 Green MBS issuance volume is in addition to the $3.4 billion in Green REMIC tranche issuance volume. The Multifamily Green GeMS REMIC security is now included in the Bloomberg Barclays MSCI Green Bond Index–a measure of the global market for fixed-income securities issued to fund projects with direct environmental benefits. “This acknowledgment of our Green Financing business by The Climate Bonds Initiative is an exciting development,” said Jeffery Hayward, EVP, and Head of Multifamily, Fannie Mae. “Fannie Mae is committed to transforming the multifamily market by helping each owner realize their property’s full financial and environmental potential.”


Ellie Mae, a cloud-based platform provider for the mortgage finance industry, announced Encompass Data Connect, their newest digital mortgage solution in the Connection suite. This solution is designed to “help mortgage lenders make smarter decisions faster using real-time data.” The solution is currently limited in availability and will be available to all lenders in the second quarter of 2018. The solution allows lenders real-time access to their standard and custom loan data fields, allowing them the opportunity to make timely, data-driven decisions in efforts to increase the velocity, efficiency, and effectiveness of their business operations, and realize any significant competitive advantage. Additionally, the Encompass Data Connect solution gives lenders secure access to their cloud-based, encrypted data at any time and from anywhere. This access allows full maximization of the existing reporting and business intelligence, as well as gaining actionable data insights faster to create innovative business opportunities and drive profitability. Encompass Data Connect leverages Amazon Web Services and their proven cloud services expertise to reduce labor costs and simplify the process of data management. In addition to near real-time data access, this solution gives lenders a standard query interface for easier data access and provides high performance by decoupling data from the solution so that production systems are not impacted.


LoanCare, a national provider of full-service subservicing and interim subservicing headquartered in Virginia Beach, Virginia, announced that Rodney Moss will succeed Gene Ross in the role of EVP of Strategy and Business Development and that Ross will retire after almost three decades at the company. “LoanCare would not be the company it is today without Gene’s leadership,” said Dave Worrall, President of LoanCare. “During his time as president, Gene helped the company navigate through exponential growth, changes in ownership and deep economic troughs. As our head of business development for the last two years, Gene has been instrumental in the company almost doubling in size.” Moss brings more than 25 years' experience in the financial services industry to the position. Prior to joining LoanCare, he served as the SVP of Sales and Business Development for the lender-placed insurance division of National General Insurance with responsibility for strategic accounts. Moss was also the SVP of Business Development for Subservicing for Flagstar Bank and served as director of business development for Ocwen Loan Servicing from 2007 through 2015. Prior to Ocwen, he spent 10 years in the debt capital markets division of SunTrust Robinson Humphrey.


The North Carolina-based non-bank mortgage servicing company RoundPoint Mortgage Servicing Corporation (RPMS) announced its selection as a subservicing partner for Neighborhood Lending Services (NLS). NLS is Illinois’ largest nonprofit mortgage lender and an affiliate of Neighborhood Housing Services of Chicago, Inc. (NHS), a nonprofit neighborhood revitalization organization. RPMS services loans for a variety of community banks, credit unions, private equity firms, and mortgage banks, as well as a dedication to providing asset management services to the nonprofit sector. In recognition of the company’s commitment, NLS has chosen RPMS as its subservicer. “We chose RoundPoint Mortgage Servicing because of its best-in-class systems, customer-centric operating model, and robust reporting tools. The transfer of our initial loans could not have gone smoother,” said Robin Coffey, NHS’s Chief Credit Officer. RPMS is a fully licensed agency and non-agency subservicer, able to service loans in all 50 states, the District of Columbia, and the U.S. Virgin Islands. The corporation is currently servicing over $75 billion worth of mortgage assets, comprised of its own assets and loans subserviced for many other investor types nationwide.


Florida-based OpenClose, a multi-channel loan origination system (LOS) and mortgage fintech provider, has announced the appointment of long-time industry veteran Tom Rice as VP, Enterprise Account Executive. Rice has experience with multiple LOS platforms as well as other enterprise-class mortgage technology solutions. He will be responsible for covering the West Coast territory the company said in a statement. In his role as VP enterprise account executive, Mr. Rice will work with lending entities of various types and sizes to utilize OpenClose’s end-to-end LOS and additional software solutions including the OpenClose LenderAssist LOS, DecisionAssist PPE, ConsumerAssist borrower direct websites, OC Correspondent lending module, OC Optics data and analytics reporting solution, mobile technology and also new innovative, disruptive products that OpenClose will be launching in 2018. “Tom has an outstanding reputation for developing and maintaining rapport-based, long-term business relationships with all types mortgage professionals from different functional areas at lending entities,” said Vince Furey, SVP of Lending Solutions at OpenClose. “He is an experienced sales executive who is solution-oriented and accustomed to operating in fast-paced, dynamic software environments. He fits well with our corporate culture and we are pleased to welcome him to the OpenClose family.”


About Author: Radhika Ojha

Radhika Ojha is an independent writer and editor. A former Online Editor and currently a reporter for MReport, she is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.

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