1st Advantage Mortgage recently executed a cash sale of an electronic loan to an investor through the Mortgage Electronic Registration System, claiming it was the first such transaction in the industry. While the transaction was a first, it wasn’t the momentous occasion you’d expect. “We did it quietly, under the radar, and Fannie Mae bought it,” said Paul Leuken, president of Chicago-based 1st Advantage. The lender had piloted a similar transaction last summer also using…