MReport January 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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12 | M R EP O RT MTECH automatically. Credit Plus' inte- gration with Volly also empow- ers borrowers to digitally submit their consent directly to lenders with just a few clicks, thereby eliminating the hassle of collect- ing credit reports for loans. "We're excited to partner with a company that is bringing a fresh perspective to the mortgage industry. Our customers will ex- perience greater efficiencies and can more easily access the infor- mation they need through this integration," said Greg Holmes, Managing Partner at Credit Plus. "Here at Volly, the goal is to provide technology that stream- lines the borrower experience and makes it as easy as possible for a consumer to secure a mort- gage," said Jerry Halbrook, CEO of Volly. "Our partnership with Credit Plus allows us to deliver on both of these fronts." Enhancing Capabilities for Small Lenders WOLTERS KLUWER'S VANECO MORTGAGE SOLUTION HAS EARNED A NEW INDUSTRY ACCOLADE. W olters Kluwer's Com- pliance Solutions busi- ness has earned two additional industry accolades—a 2019 Best in Biz Award as well as a Finance Monthly 2019 Fintech Award for its Vanceo Mortgage solution. The offering was named a Gold winner in the Enterprise Product of the Year, Financial Software category by the 2019 Best in Biz Awards program, and Loan Processing System Launch of the Year, 2019 Fintech Awards, by Finance Monthly magazine. In sharing the news about Vanceo's Gold-level win, the Best in Biz Awards noted that "with a particularly competitive field in the ninth annual program and a high percentage of entrants missing this year's distinction, this is truly an accomplishment to applaud." Vanceo Mortgage is an automated mortgage process- ing system that helps lenders effectively manage the many elements needed to originate compliant mortgage transactions. The solution provides real-time insight into origination details via automated checklists and work queues for the many individuals who participate in originating a mortgage loan, while providing greater transparency and ease of use throughout the entire process. These latest accolades mark a total of eight major industry awards for Vanceo Mortgage this year. "The industry recognitions complement and reinforce the tremendous feedback we have received from lenders who make compliant mortgage workflows a priority and have selected Vanceo Mortgage to enhance their loan processing capabili- ties," says Steven Meirink, EVP and General Manager for Wolters Kluwer's Compliance Solutions. "Vanceo embodies our relentless commitment to delivering expert solutions that provide meaning- ful benefits in operational ef- ficiencies, analytical insights, and ease of use for customers." Compliance Solutions, part of Wolters Kluwer's Governance, Risk & Compliance division, is a market leader and trusted provider of risk management and regulatory compliance solu- tions and services to U.S. banks and credit unions, insurers and securities firms. The business helps these financial institutions efficiently manage compliance obligations tied to loan and deposit origination transactions and workflows, manage risk and other regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business. Leveraging the Power of Home Equity HOMETAP HAS SECURED $100 MILLION TO ASSIST HOMEOWNERS WITHOUT ADDING TO THEIR DEBT LOAD. H ometap, which pro- vides a loan alternative for tapping into home equity without taking on debt, announced that it has secured $100 million in new financ- ing. The capital raise includes ICONIQ Capital, LLC, as well as Hometap's current investors General Catalyst, G20, Pillar, and American Family Ventures, the venture arm of AmFam Insurance. With this additional financing, Hometap plans to continue its nationwide expansion, with the goal of bringing its total reach to approximately 75% of U.S. home- owners. The company will also be expanding its platform capa- bilities and significantly growing its cross-functional team. "We've been working diligent- ly towards our mission of mak- ing homeownership less stressful and more accessible for as many U.S. homeowners as possible, and we've had tremendous suc- cess thus far," said Jeffrey Glass, CEO of Hometap. "But the fact remains that the vast majority of homeowners are currently feeling 'house rich and cash poor', and there's a lot more work to be done to make home equity in- vestments an option that's avail- able to everyone. We're thrilled to have the financial support of such a diverse group of asset- backed and venture investors who can further propel Hometap towards helping millions of Americans free up liquidity from their homes without taking on more debt." According to Hometap's 2019 Homeownership Study, despite having a need for capital, 73% of U.S. homeowners don't want to take on more debt through traditional financing options such as home equity loans or HELOCS. Hometap provides a smart new alternative to these solutions, enabling homeowners to access a percentage of their home's current value in exchange for an agreed upon percentage of the future value of their home. By taking an investment in their home, rather than incurring ad- ditional debt, homeowners are now able to tap into their home equity without the stress of monthly payments and interest. Hometap's unique homeowner- first approach, coupled with its simple and transparent pricing model, has allowed the company to differentiate itself and achieve significant market share within "We're excited to partner with a company that is bringing a fresh perspective to the mortgage industry. Our customers will experience greater efficiencies and can more easily access the information they need through this integration." —Greg Holmes, Managing Partner, Credit Plus.

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