MReport August 2020

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6 | M R EP O RT MTECH lateral" or electronic promissory notes and other loan files as collateral in its securities. Issuers may apply to participate in the early phase of the Digital Collateral Program, and approved e-Issuers will be able to securitize government-backed mortgages with digital collateral. Each e-Issuer will be given eMortgage Issuance Authority for a limited number of eMortgage loans, regardless of loan size, according to the announcement from Ginnie Mae. Ginnie Mae will begin review- ing applications on July 20 and interested parties may continue to apply through August 15. "This announcement is a major step for Ginnie Mae following two years of collaboration with industry stakeholders to develop the right set of policies that will lead to the successful implemen- tation of Digital Collateral in the government-backed industry segment," said Seth Appleton, Principal EVP at Ginnie Mae. "Moreover, this is an important milestone that was recommended in the HUD 'Housing Finance Reform Plan,'" he added. The Housing Finance Reform Plan was issued by HUD in September 2019 and includes re- forms to Ginnie Mae's securitiza- tion platform and to the integrity of Ginnie Mae securities. "GNMA should develop and implement the policies, technol- ogy, and operational capabilities necessary to accept digital promis- sory notes (eNotes) and other digitized loan files as acceptable collateral for its securities," states the reform plan. Accepting digital collateral will "enable issuers to enhance efficiency, risk management, and customer experience," HUD stated in its plan. The plan also called for Ginnie Mae to "strengthen its risk man- agement analytics;" "implement enforcement, recovery, and resolu- tion reforms to protect taxpayers;" and "fully modernize platform access, data standards, collection, and storage." There are no costs to par- ticipate in the Digital Collateral Program, Ginnie Mae said, and interested issuers must submit their application to before August 15. Online Foreclosure Services Expanded FULL SERVICES NOW AVAILABLE IN OHIO. H ubzu, an online real estate marketing plat- form announced it now offers customers some of the broadest coverage in the country for foreclosure auction services. It recently began conducting full-service online foreclosure auction sales in Ohio, making it one of the first in the industry to do so. With that expansion, Hubzu now provides marketing for foreclosure auctions nation- wide and full-service foreclosure coverage in 17 states with more on the way. The Hubzu online platform is an end-to-end asset management disposition solution for residen- tial foreclosure, short sale, REO, deed in lieu, CWCOT, and retail property auctions. Hubzu simpli- fies the purchase and sales process for buyers, sellers, and brokers of foreclosure and other proper- ties with transparent bidding and streamlined transaction support. Supported by a strong focus on customer feedback, data, and analytics, Hubzu has facilitated the sale of over 221,000 homes nationwide with over 4.5 million bids placed since 2009. The Hubzu platform helps im- prove third-party sales by increas- ing exposure of each property through extensive, multichannel marketing and optimized disposi- tion strategies. Most properties are marketed on over 200 syndication sites, and many with premium placement and customized brand- ing. Properties are also promoted through targeted emails to a database of 1.75 million registered users. Sellers and their listing agents who market their proper- ties on Hubzu also have access to a display advertising network that has driven 8.6 million property views annually and industry- leading SEM strategies that have garnered approximately 53 million advertising impressions to date. Hubzu is one of the first auc- tion companies to utilize newer foreclosure rules in Ohio that allow a private selling officer to conduct the foreclosure sale com- pletely online. It has also incorpo- rated all its auction marketing best practices into Hubzu's easy-to-use online foreclosure auctions in order to help maximize participa- tion, bids and, ultimately, third- party sales rates. "We are very excited to provide full online foreclosure auctions in additional states," said Travis Britsch, Hubzu Vice President of Auctions. "Hubzu is dedicated to providing top auction services to our clients wherever their foreclosure properties are located. Our goal is to enhance the overall auction experience for prospective buyers and maximize live and online sales performance for our clients." Hubzu is in the process of expanding the number of full- service auction states it serves. In late 2020, Hubzu anticipates deploying new integrated online and mobile technology solutions that connect the platform with live on-site foreclosure auctions. This will provide buyers with the ability to place proxy bids, help improve efficiency, and increase third-party sale rates. Accepting digital collateral will "enable issuers to enhance efficiency, risk management, and customer experience."

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