Marianne Sullivan, SVP of Credit Portfolio Strategy Underwriting & Pricing, for Fannie Mae, recently gave a speech addressing the ‘next frontier’ of mortgage evolution. Sullivan predicts that eMortgages may be "the next frontier" in origination. In her speech, she pointed out that there are currently only 250,000 such electronic loans on the MERS database.
Looking over the industry, Sullivan seemed confident that her mortgage finance colleagues could achieve this next front based on the recent implementation of Uniform Appraisal Data, or UAD.
Besides, is it really that far off to get your eMortgage? Now you can purchase gas and pay at the checkout electornically or, pay by mobile, with products like Google wallet, Juno, boku, Isis initiative, and iWallet to name a few.
Michael Hobbs, PahRoo Appraisal & Consultancy
Twitter @PahRoo
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