MReport July 2020

TheMReport — News and strategies for the evolving mortgage marketplace.

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4 | M R EP O RT MTECH A Focus on the Customer Improvements and upgrades to technology ensure buyers can utilize tech for all aspects of the homebuying process. Mortgage Cadence Offers Free Software COLLABORATION CENTER SOFTWARE IS A RESPONSE TO REMOTE-WORKING ENVIRONMENT. M ortgage Cadence, an Accenture company, announced that its Collaboration Center software will be free to mortgage lenders for a limited time. This comes in response to the increasing numbers of employees work- ing remotely due to COVID-19, making it critical for lenders to have a secure method of col- laborating over distance. "The coronavirus is chang- ing the way financial institutions operate and many of our clients are managing completely remote teams for the first time," said Dan Green, EVP, Services for Mortgage Cadence. "Through Collaboration Center, we're able to help them pull distributed teams together and focus on getting their bor- rowers to the closing table as quickly and safely as possible. In fact, many of our clients who already use Collaboration Center have recently increased their time on the software and report signifi- cantly faster closings." Collaboration Center is an enterprise-grade communication and collaboration tool that is inte- grated within Mortgage Cadence's Loan Origination Systems. The comprehensive digital tool con- nects mortgage lenders, title and settlement agents, real estate professionals, and others working in the mortgage lending indus- try. It allows teams to automate processes, deliver documents, exchange data, upload video files from remote notarizations, and securely communicate in real- time—all from within the loan. To qualify for the free 90-day offer, lenders must sign up by July 31 and implement the software by December 31, 2020. Cherry Creek Mortgage Enhances Tech IMPROVEMENTS AIMED AT CUSTOMER EXPERIENCE. Y ext, Inc., the Search Experience Cloud company, today, an- nounced its continued work with Cherry Creek Mortgage Company (CCMC) to enhance the company's website with Yext Answers. Following CCMC's success across third-party plat- forms with Yext Listings and Reviews, the company decided to implement Yext's revolution- ary new site search product to improve customers' experience on its own site. The advanced natural language processing behind Yext Answers will equip CCMC's website with a modern search solution capable of understanding complex customer questions about the company's 325-plus mortgage loan officers, over 200 loan programs, and more. Answers will return dynamic, official answers to each search query, including featured snippets answering common loan program questions and custom calls-to-action such as getting directions to a branch or schedul- ing an appointment with a loan officer. "We are excited about our expanded relationship with Cherry Creek Mortgage, which now includes our revolutionary new product, Yext Answers," said Jim Steele, President and Chief Revenue Officer of Yext. "Cherry Creek will now be able to deliver a modern natural language-based search experience accessing facts in their knowledge graph. This important next step in their digital transformation journey will drive its industry leadership in a very competitive mortgage market." "Answers is intelligent enough to tell us exactly what custom- ers are asking for and to offer the answer directly in search results," said David Arnett, VP of Marketing and Communications at Cherry Creek Mortgage. "We can only serve our customers best if we know what they want. Implementing Answers will eliminate the guesswork so we can fully understand our custom- ers' intentions. This approach will enable us to deliver the best possible home financing experi- ence and will also position us as an industry leader." CCMC originally chose Yext

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