The number of eNotes being added to the MERS eRegistry is sharply increasing, indicating a growing use of eClosings. Some 36,000 eNotes were added in the third quarter compared with 17,000 in all of 2018.
For the fiscal year ending Sept. 30, 2018, MBA took in $65.1 million of revenue versus expenses of $54.4 million, according to a newly released tax filing. Roughly half of its annual revenue comes from its hugely popular annual convention.
Limited housing supply hurt lenders’ efficiency metrics in 2018, according to a benchmarking study by Mortgage Cadence. The average time to close a mortgage increased sharply and pull-through rates declined.