TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/106030
on the web Embracing Expansion The industry's latest web-based initiatives indicate the mortgage marketplace is anticipating progress and planning for growth in the months ahead. INSIDE THE INDUSTRY RES.NET Targets Traditional Real Estate Announcing a new technology solution, the company revealed plans to expand its reach beyond the default sector. R ES.NET Home is expanding beyond the world of defaults and into the realm of traditional real estate, the company announced. Originally introduced in 2004 as a technology solution for the default space, the California-based firm has evolved its platform to enhance retail (or traditional) real estate transactions. In a release, RES.NET said its goal is to enable agents to perform tasks that improve 10 | The M Report communications to "better meet the demands of today's tech-savvy consumers while gaining the accessibility and accountability to operate more productively and improve their businesses." One of the RES.NET platform's cloud-based portals, the Agent Portal, connects agents to other real estate professionals, buyers, and sellers and allows them to handle every aspect of a sale through a single centralized system—or while on-the-go through a mobile application. Agents can define their task workflow, input details on their properties (including photos and videos), and send and sign documents using e-signature technology. The portal also allows agents to access RES.NET's offer submission link tool, enabling them to submit offers to listing agents directly through the platform instead of mailing or faxing paper documents. The system gives agents more control to manage offers, negotiations, and counteroffers, resulting in faster closings. Todd Mobraten, COO and president of RES.NET, said the company's expansion into the traditional market is a response to the growth of its network (which now includes more than 200,000 users) and the continued evolution of real estate. "With more than 80 percent of consumers now beginning their home search online, it is important for agents to leverage technology that meets their expectations," Mobraten said. "With the platform, agents can eliminate communication gaps and securely share information in an automated, paperless environment or even from a mobile device, which minimizes their time in front of the computer and lets them focus on serving homebuyers, cultivating relationships, and increasing their business opportunities." CNB Credits Technology for Lending Success Citing strong partnerships with lending technology providers, the Ohio-based bank completed the launch of a new mortgage unit. C onsumers National Bank (CNB) announced its entry into the mortgage origination business in April 2012, and the company is providing insight into the initiatives that are helping build its lending practices. Highlighting the bank's strategic plans, CNB cited its strong technology partners as the keys to successfully launching its mortgage unit. As CNB prepared to roll out its new mortgage division, the bank selected LendingQB's loan origination system (LOS) as the "backbone of its lending operation." Through utilizing LendingQB's Edoc paperless system in tandem with ComplianceEase and DocMagic, CNB was able to seamlessly integrate, automate, and accelerate critical processes. Prioritizing a strong technology solution, the bank ensured that its